Multifamily Property with Rear
For Sale
$1,298,000
265 NE 116th St, Miami, FL 33161
The renovated front duplex includes in-unit laundry, while a separate cottage adds additional living space.
Property Size2,860 SF
Lot Size0.29 Acres
Price / SF$453.85
Days on Market17
Property Features for 265 NE 116th St
General Information
Standard status
Active
Size
2,860 SF
Total Parking Spaces
6
Lot size
0.29 Acres
Property subtype
Duplex
Additional Details
Gross Income
$103,200
Unit Mix
2 x 2BR/1BA
Taxes and HOA fees
Annual Taxes
$14,669
Amenities
in-unit laundry
Building Details
Building Size
2,860 SF
Year Built
1951
Buildings
2
Construction
concrete block
Listing Agency:
Avanti Way Realty LLC
Listed By:
Helene Calini · License #3645215
(305) 331-4464
Source:
Casacollectiongroup
Added: Sep 17
Changed: Sep 28
Last Checked: Oct 3 at 1:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Avanti Way Realty LLC
Investment Insights
Based on property information with market context.
At 265 NE 116th Street in Miami, this 2,860-square-foot multifamily property includes a front duplex and a detached cottage. The duplex has two 2-bedroom, 1-bathroom units of approximately 900 square feet each, with updated kitchens and bathrooms and in-unit laundry. The cottage sits at the rear of the property. Concrete block construction dates to 1951, and the property is zoned 0100.
The 12,750-square-foot parcel measures 75 by 170 feet and includes six parking spaces. Mature trees and a deep backyard occupy the rear portion of the lot.
The 12,750-square-foot parcel measures 75 by 170 feet and includes six parking spaces. Mature trees and a deep backyard occupy the rear portion of the lot.
Key Highlights
- 2,860‑square‑foot multifamily property on a 12,750‑square‑foot lot
- Front duplex has two 2‑bedroom, 1‑bathroom units, approximately 900 square feet each
- Renovated kitchens and bathrooms; laundry is located inside each duplex unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,834
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,056,680
$1.1M
Cap Rate 7%
$754,771
$754.8K
Cap Rate 9%
$587,044
$587.0K
Market Conditions
NOI Build-Up for 2,860 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$103.0K $36.00/SF
− Vacancy
−$6.9K −$2.41/SF
EGI
$96.1K $33.59/SF
− OpEx
−$43.2K −$15.11/SF
NOI
$52.8K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,056,680
Cap Rate 7%
$754,771
Cap Rate 9%
$587,044
Alternative Uses
Best Use
Apartment 5plus
$754.8K
$660.4K – $880.6K
NOI $52,834 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.93M
$1.69M – $2.25M
NOI $135,136 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - The renovated front duplex includes in-unit laundry, while a separate cottage adds additional living space.
Where is this multifamily property located?
The property is located at 265 NE 116th St Miami, FL.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: 2,860‑square‑foot multifamily property on a 12,750‑square‑foot lot; Front duplex has two 2‑bedroom, 1‑bathroom units, approximately 900 square feet each; Renovated kitchens and bathrooms; laundry is located inside each duplex unit
