Renovated Duplex with Rear
New
For Sale
$1,298,000
265 NE 116th St, Miami, FL 33161
Residential Income, Miami, FL
Property Size2,860 SF
Lot Size0.29 Acres
Price / SF$453.85
Days on Market2
Property Features for 265 NE 116th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
0100
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 4
Parking
6
Security features
Security
Window features
Blinds
Patio and Porch features
Deck
Exterior features
Deck, Fence, Security/High Impact Doors, Room For Pool
Fencing
Fenced
Subdivision
TRESULEE
Lot features
1/4 to 1/2 Acre Lot
Directions
North on NE 2nd Avenue to 116th Street; make a right.
Standard status
Active
APN
30-22-31-040-0050
Size
2,860 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TRESULEE PB 7-141 LOT 11 & E1/2 LOT 10 BLK 1 LOT SIZE 75.000 X 170 OR16803-3260/23813-70 0595 5
Tax Annual Amount
14669
Legal Description
TRESULEE PB 7-141 LOT 11 & E1/2 LOT 10 BLK 1 LOT SIZE 75.000 X 170 OR16803-3260/23813-70 0595 5
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
in-unit laundry
private backyard
Building Details
Year built
1951
Floors in Building
1
Flooring type
Tile - Ceramic, Laminate, Wood, Hardwood
Building materials
Block
Roof type
Shingle
Listing Agency:
Avanti Way Realty LLC
(305) 229-1146
Listed By:
Helene Calini · License #3645215
(305) 331-4464
Added: Sep 25
Last Checked: Sep 26 at 5:06PM
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.
Investment Insights
Based on property information with market context.
This multifamily property includes a renovated front duplex with two 2-bedroom, 1-bathroom units of approximately 900 SF each. Updated kitchens and bathrooms, in-unit laundry, and a detached rear cottage round out the improvements. The buildings total 2,860 SF on a 12,750 SF lot measuring 75' x 170'. Concrete block construction dates to 1951, and the property has six parking spaces, a deck, and a fenced yard with mature trees.
At 265 NE 116th St in Miami, the property is between Biscayne Park and Miami Shores. Nearby new construction is noted on the surrounding block.
At 265 NE 116th St in Miami, the property is between Biscayne Park and Miami Shores. Nearby new construction is noted on the surrounding block.
Key Highlights
- 12,750 SF lot measuring 75' x 170'
- Front duplex has two 2BR/1BA units, approximately 900 SF each
- Detached cottage at the rear
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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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - A fenced backyard and six parking spaces complement the front residence and detached cottage.
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: 12,750 SF lot measuring 75' x 170'; Front duplex has two 2BR/1BA units, approximately 900 SF each; Detached cottage at the rear
