Four-Unit Property with
New
For Sale
$1,400,000
27 NE 60th Ter, Miami, FL 33137
Quadplex offering four two-bedroom apartments, each with a den and one bathroom.
Property Size2,804 SF
Price / SF$499.29
Days on Market4
Property Features for 27 NE 60th Ter
General Information
Standard status
Active
Size
2,804 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/1BA + den
Multifamily Units
4
Additional Details
Opportunity Zone
Yes
Taxes and HOA fees
Annual Taxes
$14,575
Building Details
Building Size
2,804 SF
Year Built
1929
Listing Agency:
Canvas Real Estate
(786) 201-9728
Listed By:
Niky Nammur · License #3493037
Source:
Casacollectiongroup
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 9:35PM
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 Canvas Real Estate
Investment Insights
Based on property information with market context.
This 1929 quadplex contains four apartments within 2,804 square feet. Each residence is configured with two bedrooms, one bathroom, and a den, providing a consistent layout across the property. The building is offered as-is, and its 40-year certification has been completed.
The property is located at 27 NE 60th Ter in Miami, near Magic City Casino, Midtown, Wynwood, and the Miami Design District. It is also situated within an Opportunity Zone. The four-unit configuration offers a straightforward multifamily layout with matching apartment plans throughout the building.
The property is located at 27 NE 60th Ter in Miami, near Magic City Casino, Midtown, Wynwood, and the Miami Design District. It is also situated within an Opportunity Zone. The four-unit configuration offers a straightforward multifamily layout with matching apartment plans throughout the building.
Key Highlights
- Four‑unit quadplex with 4 apartments
- Each apartment includes 2 bedrooms, 1 bathroom, and a den
- 2,804 square feet of property size
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
$56,236
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
4.02%
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%
$1,124,720
$1.1M
Cap Rate 7%
$803,371
$803.4K
Cap Rate 9%
$624,844
$624.8K
Market Conditions
NOI Build-Up for 2,804 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
$85.8K $30.60/SF
− Vacancy
−$5.5K −$1.95/SF
EGI
$80.3K $28.65/SF
− OpEx
−$24.1K −$8.60/SF
NOI
$56.2K $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 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%
$1,124,720
Cap Rate 7%
$803,371
Cap Rate 9%
$624,844
Alternative Uses
Best Use
Multifamily LT 5
$803.4K
$703.0K – $937.3K
NOI $56,236 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$740.0K
$647.5K – $863.3K
NOI $51,799 @ 7.0% cap · market cap 3.70%
Theoretical Best
Specialty Retail
$1.89M
$1.66M – $2.21M
NOI $132,490 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,310
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex offering four two-bedroom apartments, each with a den and one bathroom.
Where is this quadplex located?
The property is located at 27 NE 60th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Four‑unit quadplex with 4 apartments; Each apartment includes 2 bedrooms, 1 bathroom, and a den; 2,804 square feet of property size
