Residential Income Property with
For Sale
$899,000
495 Brickell Ave # 1103, Miami, FL 33131
Tenant-occupied residence with a split-bedroom layout, southeast exposure, and bay views.
Property Size1,518 SF
Price / SF$592.23
Days on Market8
Property Features for 495 Brickell Ave # 1103
General Information
Standard status
Active
Size
1,518 SF
Property subtype
Dockominium
Taxes and HOA fees
Annual Taxes
$14,190
Building Details
Building Size
1,518 SF
Year Built
2009
Listing Agency:
Tectum LLC
Listed By:
Katherine Isaza · License #3254034
Source:
Batrare
Added: Aug 27
Changed: Aug 31
Last Checked: Sep 1 at 10:43PM
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 Tectum LLC
Investment Insights
Based on property information with market context.
This tenant-occupied residential income property at Icon Brickell offers two bedrooms plus a den and two bathrooms arranged in a split floor plan. The residence includes marble flooring, custom closets, blackout shades, and premium appliances, with southeast exposure and bay views. Built in 2009, the home combines a defined living layout with upgraded interior finishes.
The property is positioned near Brickell City Centre, dining, shopping, and transportation. The existing lease provides a 60-day termination-upon-sale clause. Showings require 24 hours' notice.
The property is positioned near Brickell City Centre, dining, shopping, and transportation. The existing lease provides a 60-day termination-upon-sale clause. Showings require 24 hours' notice.
Key Highlights
- Two bedrooms plus a den and two bathrooms
- Split floor plan with southeast exposure and bay views
- Marble floors, custom closets, and blackout shades
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
$28,043
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
3.12%
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%
$560,860
$560.9K
Cap Rate 7%
$400,614
$400.6K
Cap Rate 9%
$311,589
$311.6K
Market Conditions
NOI Build-Up for 1,518 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
$54.6K $36.00/SF
− Vacancy
−$3.7K −$2.41/SF
EGI
$51.0K $33.59/SF
− OpEx
−$22.9K −$15.11/SF
NOI
$28.0K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /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%
$560,860
Cap Rate 7%
$400,614
Cap Rate 9%
$311,589
Alternative Uses
Best Use
Apartment 5plus
$400.6K
$350.5K – $467.4K
NOI $28,043 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.02M
$896.6K – $1.20M
NOI $71,726 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
18,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 33131, FL
26,213
Population
18,872
Households
1.4
Avg Household Size
37
Median Age
77%
College-Educated
98%
High-School Grad
0.5 sq mi
ZIP Area
52,426
Density / Sq Mi
$143,114
Median Household Income
$86,331
Median Earnings
$2,847
Median Rent
$621,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Tenant-occupied residence with a split-bedroom layout, southeast exposure, and bay views.
Where is this residential income property located?
The property is located at 495 Brickell Ave # 1103 Miami, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two bedrooms plus a den and two bathrooms; Split floor plan with southeast exposure and bay views; Marble floors, custom closets, and blackout shades
