Corner Duplex with Separate Back
For Sale
$850,000
335 NE 114th St, Miami, FL 33161
Corner duplex featuring two separate units with individual back yards on a large lot.
Property Size1,881 SF
Days on Market134
Property Features for 335 NE 114th St
General Information
Standard status
Active
Size
1,881 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$10,066
Building Details
Building Size
1,881 SF
Year Built
1960
Listing Agency:
The Real Estate Lab, Inc.
Listed By:
Gil Terem · License #0690805
(305) 804-4848
Source:
Relinkre
Added: May 6
Changed: Sep 14
Last Checked: Sep 15 at 10:34AM
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 The Real Estate Lab, Inc.
Investment Insights
Based on property information with market context.
This corner duplex offers spacious living with a total of 6 bedrooms and 4 bathrooms. The property consists of two 3/2 units, arranged on a large corner lot with each unit having its own back yard.
Located at the intersection of NE 114th St and NE 4th Ave, the property is positioned just minutes away from Biscayne Park, Miami Shores, and Barry University.
Built in 1960, this layout is well suited for tenants seeking private outdoor space with separate back yards for each unit. The large corner-lot setting also provides room for additional outdoor features such as a pool.
Located at the intersection of NE 114th St and NE 4th Ave, the property is positioned just minutes away from Biscayne Park, Miami Shores, and Barry University.
Built in 1960, this layout is well suited for tenants seeking private outdoor space with separate back yards for each unit. The large corner-lot setting also provides room for additional outdoor features such as a pool.
Key Highlights
- Two 3/2 units make up the duplex on the corner lot
- 6‑bedroom, 4‑bath total configuration
- Each unit has its own back yard
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
$37,724
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
4.44%
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%
$754,480
$754.5K
Cap Rate 7%
$538,914
$538.9K
Cap Rate 9%
$419,156
$419.2K
Market Conditions
NOI Build-Up for 1,881 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
$57.6K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$53.9K $28.65/SF
− OpEx
−$16.2K −$8.60/SF
NOI
$37.7K $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%
$754,480
Cap Rate 7%
$538,914
Cap Rate 9%
$419,156
Alternative Uses
Best Use
Multifamily LT 5
$538.9K
$471.6K – $628.7K
NOI $37,724 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$496.4K
$434.4K – $579.1K
NOI $34,748 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,878 @ 7.0% cap · market cap 10.46%
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
714
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Corner duplex featuring two separate units with individual back yards on a large lot.
Where is this duplex located?
The property is located at 335 NE 114th St Miami, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two 3/2 units make up the duplex on the corner lot; 6‑bedroom, 4‑bath total configuration; Each unit has its own back yard
