Waterfront Residential Income
For Sale
$250,000
2700 NE 135th Street, North Miami, FL 33181
Residential, North Miami, FL
Property Size640 SF
Price / SF$390.63
Days on Market218
Property Features for 2700 NE 135th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
4700
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Security features
Security
Pets allowed
Yes
Exterior features
Barbecue
Fencing
Fenced
Appliances
Gas Range, Refrigerator
Subdivision
FAIRMONT HOUSE INC - CO-OP
View
Ocean
Elementary school
North Miami
High school
Alonzo and Tracy Mourning
Standard status
Active
APN
0622290690300
Size
640 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FAIRMONT HOUSE INC - CO-OP APT 31 1.7161% OF OWNERSHIP REM FOSTER & SANCHEZ TR PB 31-66 PT TR 1-BEG X OFN/L SEC 27 &BLKHD LINE BISC BAY SW A
Tax Annual Amount
3609
Expense value
150
Expense
Application Fee
Expense freq.
One Time
HOA Fee
$485 Monthly
Legal Description
FAIRMONT HOUSE INC - CO-OP APT 31 1.7161% OF OWNERSHIP REM FOSTER & SANCHEZ TR PB 31-66 PT TR 1-BEG X OFN/L SEC 27 &BLKHD LINE BISC BAY SW A
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Water front
1
Amenities
saltwater pool
tiki hut
BBQ area
marina access
private dockage
Building Details
Year built
1957
Floors in Building
2
Flooring type
Tile
Building materials
CBS
Listing Agency:
The Keyes Company
(305) 822-9800
Listed By:
Stanley Rosen · License #681734
(305) 510-8032
Added: Feb 14
Changed: Sep 17
Last Checked: Sep 20 at 3:06PM
MLS# F10552196
Copyright © 2026 BeachesMLS. 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 640-square-foot, one-bedroom, one-bath residence is located within the Fairmont House, a garden-style complex completed in 1957. The unit features tile flooring, central heating and cooling, a gas range, and a refrigerator. Construction is CBS, with public water and public sewer service. Cable is available.
The property sits directly on the Intracoastal Waterway in North Miami, east of Biscayne Boulevard, and across from Haulover Marina and its sandbar area. Community amenities include a saltwater pool, tiki hut, barbecue area, and marina access with private dockage. A 2-yr rental restriction applies before leasing. The property is identified under zoning code 4700.
The property sits directly on the Intracoastal Waterway in North Miami, east of Biscayne Boulevard, and across from Haulover Marina and its sandbar area. Community amenities include a saltwater pool, tiki hut, barbecue area, and marina access with private dockage. A 2-yr rental restriction applies before leasing. The property is identified under zoning code 4700.
Key Highlights
- 640 square feet with 1 bedroom and 1 bathroom
- Direct Intracoastal Waterway setting in a garden‑style complex
- Saltwater pool, tiki hut, BBQ area, and marina access with private dockage
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
$9,843
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
3.94%
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%
$196,860
$196.9K
Cap Rate 7%
$140,614
$140.6K
Cap Rate 9%
$109,367
$109.4K
Market Conditions
NOI Build-Up for 640 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
$18.7K $29.28/SF
− Vacancy
−$843 −$1.32/SF
EGI
$17.9K $27.96/SF
− OpEx
−$8.1K −$12.58/SF
NOI
$9.8K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /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%
$196,860
Cap Rate 7%
$140,614
Cap Rate 9%
$109,367
Alternative Uses
Best Use
Apartment 5plus
$140.6K
$123.0K – $164.1K
NOI $9,843 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$324.7K
$284.1K – $378.8K
NOI $22,729 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 33181, FL
20,955
Population
9,401
Households
2.2
Avg Household Size
39
Median Age
41%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
6,985
Density / Sq Mi
$56,473
Median Household Income
$40,233
Median Earnings
$1,665
Median Rent
$315,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence in a garden-style complex with pool, marina access, and private dockage.
Where is this residential income property located?
The property is located at 2700 NE 135th Street North Miami, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 640 square feet with 1 bedroom and 1 bathroom; Direct Intracoastal Waterway setting in a garden‑style complex; Saltwater pool, tiki hut, BBQ area, and marina access with private dockage
