Two-Unit Mixed-Use
For Sale
$1,850,000
5204 N Miami Ave, Miami, FL 33127
Two-unit property at 5204–5206 N Miami Ave, offered for sale with flexible T-commercial zoning for multiple use types.
Property Size2,943 SF
Price / SF$628.61
Days on Market128
Property Features for 5204 N Miami Ave
General Information
Standard status
Active
Size
2,943 SF
Property subtype
Residential Income
Zoning
T-commercial
Taxes and HOA fees
Annual Taxes
$20,602
Building Details
Tenancy
Multi
Listing Agency:
Borque Group Realty, LLC.
Listed By:
Hilal Fatma Borque · License #3256299
(305) 699-3073
Source:
Exprealty
Added: May 3
Changed: Sep 5
Last Checked: Sep 6 at 12:33PM
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 Borque Group Realty, LLC.
Investment Insights
Based on property information with market context.
This two-unit property at 5204–5206 N Miami Ave is being offered for sale as a mixed-use platform. The site is described as having flexible T-commercial zoning, with support for retail, office, or service-based uses depending on the tenant and operational plan.
Located along Miami’s Little Haiti/Little River corridor, the property is positioned within an active redevelopment environment, with nearby restaurants and creative businesses referenced in the marketing materials. For owner-users and investors seeking a centrally located two-unit asset with zoning flexibility, this property offers a straightforward structure for configuring space across the two units.
Located along Miami’s Little Haiti/Little River corridor, the property is positioned within an active redevelopment environment, with nearby restaurants and creative businesses referenced in the marketing materials. For owner-users and investors seeking a centrally located two-unit asset with zoning flexibility, this property offers a straightforward structure for configuring space across the two units.
Key Highlights
- Two‑unit mixed‑use property at 5204–5206 N Miami Ave
- Year built: 1964
- Flexible T‑commercial zoning supports retail, office, or service‑based uses
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
$59,023
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
3.19%
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%
$1,180,460
$1.2M
Cap Rate 7%
$843,186
$843.2K
Cap Rate 9%
$655,811
$655.8K
Market Conditions
NOI Build-Up for 2,943 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
$90.1K $30.60/SF
− Vacancy
−$5.7K −$1.95/SF
EGI
$84.3K $28.65/SF
− OpEx
−$25.3K −$8.60/SF
NOI
$59.0K $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%
$1,180,460
Cap Rate 7%
$843,186
Cap Rate 9%
$655,811
Alternative Uses
Best Use
Multifamily LT 5
$843.2K
$737.8K – $983.7K
NOI $59,023 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$776.7K
$679.6K – $906.1K
NOI $54,367 @ 7.0% cap · market cap 2.94%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,058 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,633
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property at 5204–5206 N Miami Ave, offered for sale with flexible T-commercial zoning for multiple use types.
Where is this duplex located?
The property is located at 5204 N Miami Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Two‑unit mixed‑use property at 5204–5206 N Miami Ave; Year built: 1964; Flexible T‑commercial zoning supports retail, office, or service‑based uses
