Duplex Across from Barry
For Sale
Contact for pricing
283 NE 111th Street # 283, Miami, FL 33161
Duplex with separate electric meters and long-term tenants, offering flexibility for rental investment or owner occupancy.
Property Size1,780 SF
Price / SF$336.52
Days on Market148
Property Features for 283 NE 111th Street # 283
General Information
Standard status
Active
Size
1,780 SF
Property subtype
Multifamily
Zoning
5700
Additional Details
Multifamily Units
2
Building Details
Year Built
1949
Units
2
Listing Agency:
All Points Rlty & Investments
(305) 621-5800
Listed By:
Patrick Samuels · License #0477046
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Jun 20 at 8:08AM
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 All Points Rlty & Investments
Investment Insights
Based on property information with market context.
This duplex property is set up for income use with two electric meters and one water meter. It is currently occupied by long-term tenants, creating an owner-occupant or investor-friendly option for those looking for stable in-place tenancy. The property’s configuration supports separate utility metering, which can simplify ongoing building-level management.
The location places the property a few blocks north of Miami Shores, with the site directly across from Barry University. This proximity to an established education-related anchor can be relevant for tenants evaluating convenience and day-to-day access in the area.
For buyers considering a rental investment, the presence of long-term tenants provides immediate occupancy, and the listing notes that current rents are below market. For owner occupants, the duplex format can allow one side to be used personally while retaining rental income on the other unit. With metered electric service and a single water meter, the building’s utility structure is a practical factor for underwriting and day-to-day operations.
The location places the property a few blocks north of Miami Shores, with the site directly across from Barry University. This proximity to an established education-related anchor can be relevant for tenants evaluating convenience and day-to-day access in the area.
For buyers considering a rental investment, the presence of long-term tenants provides immediate occupancy, and the listing notes that current rents are below market. For owner occupants, the duplex format can allow one side to be used personally while retaining rental income on the other unit. With metered electric service and a single water meter, the building’s utility structure is a practical factor for underwriting and day-to-day operations.
Key Highlights
- Duplex built in 1949
- 2 electric meters and 1 water meter
- Long‑term tenants in place
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
$35,699
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
5.96%
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%
$713,980
$714.0K
Cap Rate 7%
$509,986
$510.0K
Cap Rate 9%
$396,656
$396.7K
Market Conditions
NOI Build-Up for 1,780 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
$54.5K $30.60/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$51.0K $28.65/SF
− OpEx
−$15.3K −$8.60/SF
NOI
$35.7K $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%
$713,980
Cap Rate 7%
$509,986
Cap Rate 9%
$396,656
Alternative Uses
Best Use
Multifamily LT 5
$510.0K
$446.2K – $595.0K
NOI $35,699 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$469.8K
$411.0K – $548.1K
NOI $32,883 @ 7.0% cap · market cap 5.49%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,106 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
537
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with separate electric meters and long-term tenants, offering flexibility for rental investment or owner occupancy.
Where is this duplex located?
The property is located at 283 NE 111th Street # 283 Miami, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Duplex built in 1949; 2 electric meters and 1 water meter; Long‑term tenants in place
