Duplex with Permitted Rear
265 NE 116th St, Miami, FL 33161
For Sale
$1,298,000
Residential Income, Miami, FL
Property Size2,860 SF
Lot Size0.29 Acres
Price / SF$453.85
Days on Market47
Property Features for 265 NE 116th St
General Information
Property type
Property subtype
Zoning description
Bedrooms
Full bathrooms
Rooms
Parking
Security features
Window features
Patio and Porch features
Exterior features
Fencing
Subdivision
Lot features
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Avanti Way Realty LLC
(305) 229-1146
Listed By:
Helene Calini · License FL #3645215
(305) 331-4464
Added: Sep 25
Changed: Nov 10
Last Checked: Nov 10 at 8:06PM
MLS# A12095976
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The property includes a renovated front duplex with two 2-bedroom, 1-bathroom units of approximately 900 SF each. Updates include kitchens and bathrooms, and both units have in-unit laundry. A separate permitted structure sits behind the duplex. The 1951 building is concrete block construction, and the grounds include a fenced yard, mature trees, and a deck.
The 12,750 SF parcel measures 75' x 170' and is located between Biscayne Park and Miami Shores in Miami. The property is fully occupied and has six parking spaces. A septic tank serves the property.
The 12,750 SF parcel measures 75' x 170' and is located between Biscayne Park and Miami Shores in Miami. The property is fully occupied and has six parking spaces. A septic tank serves the property.
Key Highlights
- 12,750 SF lot measuring 75' x 170'
- Two renovated 2‑bedroom, 1‑bathroom units, approximately 900 SF each
- Detached permitted rear structure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,359
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,147,180
$1.1M
Cap Rate 7%
$819,414
$819.4K
Cap Rate 9%
$637,322
$637.3K
Market Conditions
NOI Build-Up for 2,860 SF
Gross rent
$87.5K $30.60/SF
− Vacancy
−$5.6K −$1.95/SF
EGI
$81.9K $28.65/SF
− OpEx
−$24.6K −$8.60/SF
NOI
$57.4K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,147,180
Cap Rate 7%
$819,414
Cap Rate 9%
$637,322
Alternative Uses
Best Use
Multifamily LT 5
$819.4K
$717.0K – $956.0K
NOI $57,359 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$754.8K
$660.4K – $880.6K
NOI $52,834 @ 7.0% cap · market cap 4.07%
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.
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
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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
$376,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Miami, FL
Properties on Market for Duplexes in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two renovated rental units share the property with a separate permitted structure and six parking spaces.
Where is this duplex 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: 12,750 SF lot measuring 75' x 170'; Two renovated 2‑bedroom, 1‑bathroom units, approximately 900 SF each; Detached permitted rear structure
