Remodeled 4-Unit Multifamily
For Sale
$1,390,000
340 NE 125th Street, North Miami, FL 33161
Two-building property combines a renovated front residence with a rear triplex, separate storage, covered parking, and flexible lease options.
Property Size3,289 SF
Lot Size0.25 Acres
Price / SF$422.62
Days on Market22
Property Features for 340 NE 125th Street
General Information
Standard status
Active
Size
3,289 SF
Total Parking Spaces
10
Lot size
0.25 Acres
Property subtype
Multi Family
Zoning
R-6
Additional Details
Opportunity Zone
Yes
Multifamily Units
4
Building Details
Building Size
3,289 SF
Year Built
1927
Buildings
2
Construction
block
Listing Agency:
EXP Realty LLC
Listed By:
John Salt · License #3270043
(786) 485-0888
Source:
Silverleafrealtygroup
Added: Aug 28
Changed: Sep 16
Last Checked: Sep 18 at 1:29PM
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 multifamily property includes two buildings totaling 3,289 square feet on a quarter-acre site. The front residence has 3 bedrooms and 2 bathrooms, while the rear structure contains a triplex, creating four total units. Separate storage, a large carport, and 10 parking spaces add practical functionality.
Originally constructed in 1927 with block construction, the property has undergone extensive remodeling, including new plumbing, electrical and mechanical systems, HVAC, impact glass, kitchens, bathrooms, fixtures, and stainless-steel appliances. High ceilings and abundant natural light are incorporated throughout the updated interiors.
The property is zoned R-6 and has a stated height limit of 110+ feet. It is identified as being in an Opportunity Zone and a non-flood zone. The address places the property on NE 125th Street in North Miami, with restaurants, shops, and the Museum of Contemporary Art described as walkable nearby amenities.
Originally constructed in 1927 with block construction, the property has undergone extensive remodeling, including new plumbing, electrical and mechanical systems, HVAC, impact glass, kitchens, bathrooms, fixtures, and stainless-steel appliances. High ceilings and abundant natural light are incorporated throughout the updated interiors.
The property is zoned R-6 and has a stated height limit of 110+ feet. It is identified as being in an Opportunity Zone and a non-flood zone. The address places the property on NE 125th Street in North Miami, with restaurants, shops, and the Museum of Contemporary Art described as walkable nearby amenities.
Key Highlights
- Four total units across a front residence and rear triplex
- 3,289 SF of improvements on a quarter‑acre site
- Fully remodeled interiors with new plumbing, electric, mechanical/HVAC, kitchens, baths, and impact glass
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
$50,583
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
3.64%
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%
$1,011,660
$1.0M
Cap Rate 7%
$722,614
$722.6K
Cap Rate 9%
$562,033
$562.0K
Market Conditions
NOI Build-Up for 3,289 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
$96.3K $29.28/SF
− Vacancy
−$4.3K −$1.32/SF
EGI
$92.0K $27.96/SF
− OpEx
−$41.4K −$12.58/SF
NOI
$50.6K $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%
$1,011,660
Cap Rate 7%
$722,614
Cap Rate 9%
$562,033
Alternative Uses
Best Use
Apartment 5plus
$722.6K
$632.3K – $843.1K
NOI $50,583 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,805 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,165
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?
Multifamily property - Two-building property combines a renovated front residence with a rear triplex, separate storage, covered parking, and flexible lease options.
Where is this multifamily property located?
The property is located at 340 NE 125th Street North Miami, FL.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Four total units across a front residence and rear triplex; 3,289 SF of improvements on a quarter‑acre site; Fully remodeled interiors with new plumbing, electric, mechanical/HVAC, kitchens, baths, and impact glass
