Remodeled Multifamily Income
For Sale
$1,390,000
340 Ne 125th St, North Miami, FL 33161
Fully remodeled main house plus three efficiencies with impact windows, modern plumbing, and ample parking on a 11,250 SF lot.
Property Size3,289 SF
Lot Size0.26 Acres
Price / SF$422.62
Days on Market125
Property Features for 340 Ne 125th St
General Information
Standard status
Active
Size
3,289 SF
Lot size
0.26 Acres
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$16,411
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
John Salt · License #3270043
(786) 485-0888
Source:
Exprealty
Added: May 10
Changed: Sep 9
Last Checked: Sep 9 at 8:48PM
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 remodeled multifamily-zoned property features a fully updated main house with three bedrooms and two bathrooms, impact windows, abundant light, and modern improvements including PVC plumbing and a gas-line kitchen. A carport and ample parking support convenient day-to-day access. In addition to the main residence, the property includes three efficiencies and a storage unit, creating immediate rental income potential.
The property is situated just off 125th Street near North Miami’s downtown. BikeScore is 49 and walkScore is 56, with transitScore of 39.
The property has completed its 40-year recertification. The multifamily zoning allows 2 to 9 units, providing flexibility for buyers seeking to keep the current configuration or redevelop for additional units.
The property is situated just off 125th Street near North Miami’s downtown. BikeScore is 49 and walkScore is 56, with transitScore of 39.
The property has completed its 40-year recertification. The multifamily zoning allows 2 to 9 units, providing flexibility for buyers seeking to keep the current configuration or redevelop for additional units.
Key Highlights
- Multifamily‑zoned property allows 2 to 9 units on an 11,250 SF lot
- Fully remodeled main house (built 1927) with 3 bedrooms and 2 baths
- Impact windows throughout the main house
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
$54,827
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%
$1,096,540
$1.1M
Cap Rate 7%
$783,243
$783.2K
Cap Rate 9%
$609,189
$609.2K
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
$82.9K $25.20/SF
− Vacancy
−$4.6K −$1.39/SF
EGI
$78.3K $23.81/SF
− OpEx
−$23.5K −$7.14/SF
NOI
$54.8K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,096,540
Cap Rate 7%
$783,243
Cap Rate 9%
$609,189
Alternative Uses
Best Use
Multifamily LT 5
$783.2K
$685.3K – $913.8K
NOI $54,827 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$722.6K
$632.3K – $843.1K
NOI $50,583 @ 7.0% cap · market cap 3.64%
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
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,154
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?
Quadplex - Fully remodeled main house plus three efficiencies with impact windows, modern plumbing, and ample parking on a 11,250 SF lot.
Where is this quadplex located?
The property is located at 340 Ne 125th St 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: Multifamily‑zoned property allows 2 to 9 units on an 11,250 SF lot; Fully remodeled main house (built 1927) with 3 bedrooms and 2 baths; Impact windows throughout the main house
