New Construction Two-Story
For Sale
$1,100,000
3051-3053 NW 59th Street, Miami, FL 33142
Energy-efficient design, contemporary finishes, and a spacious layout define this newly built residential property.
Property Size3,000 SF
Price / SF$366.67
Days on Market27
Property Features for 3051-3053 NW 59th Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Duplex
Building Details
Year Built
2026
Stories
2
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Claudienne R Hibbert · License #3022949
(786) 229-6567
Source:
Lehmannflorida
Added: Aug 27
Changed: Sep 21
Last Checked: Sep 22 at 4:17PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This two-story duplex offers 3000 square feet of residential space with a contemporary layout and updated interior finishes. The property was built in 2026 and incorporates high-efficiency features intended to support modern day-to-day use. Open living areas and coordinated design elements contribute to the overall configuration, while the new construction avoids the immediate renovation needs often associated with older properties.
Located at 3051-3053 NW 59th Street in Miami, Florida, the property provides a newly constructed residential asset in an established urban setting. Its duplex classification and recent construction may suit buyers seeking a newer multifamily property with current design standards and energy-conscious features.
Located at 3051-3053 NW 59th Street in Miami, Florida, the property provides a newly constructed residential asset in an established urban setting. Its duplex classification and recent construction may suit buyers seeking a newer multifamily property with current design standards and energy-conscious features.
Key Highlights
- 3000 square feet of property size
- 2026 construction
- Two‑story duplex configuration
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
$60,167
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
5.47%
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%
$1,203,340
$1.2M
Cap Rate 7%
$859,529
$859.5K
Cap Rate 9%
$668,522
$668.5K
Market Conditions
NOI Build-Up for 3,000 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
$91.8K $30.60/SF
− Vacancy
−$5.8K −$1.95/SF
EGI
$86.0K $28.65/SF
− OpEx
−$25.8K −$8.60/SF
NOI
$60.2K $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%
$1,203,340
Cap Rate 7%
$859,529
Cap Rate 9%
$668,522
Alternative Uses
Best Use
Multifamily LT 5
$859.5K
$752.1K – $1.00M
NOI $60,167 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$791.7K
$692.8K – $923.7K
NOI $55,420 @ 7.0% cap · market cap 5.04%
Theoretical Best
Specialty Retail
$2.03M
$1.77M – $2.36M
NOI $141,751 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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 - Energy-efficient design, contemporary finishes, and a spacious layout define this newly built residential property.
Where is this duplex located?
The property is located at 3051-3053 NW 59th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3000 square feet of property size; 2026 construction; Two‑story duplex configuration
