Two-Unit Duplex with Tile
For Sale
$1,850,000
5204 N Miami Ave, Miami, FL 33127
MULTI_FAMILY - Miami, FL
Property Size2,943 SF
Price / SF$628.61
Days on Market37
Property Features for 5204 N Miami Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
3901
Bedrooms
7
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 3, Bedroom 1, Bedroom 7, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 3, Bathroom 2
Parking
3
Subdivision
RAILWAY SHOPS ADDN 2ND AM
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-24-013-0780
Size
2,943 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
RAILWAY SHOPS ADDN 2ND AMD PB 3-183 LOT 24 LESS E10FT BLK 4 LOT SIZE 49.910 X 144 OR 11967-279 1183 1
Tax Annual Amount
20602
Legal Description
RAILWAY SHOPS ADDN 2ND AMD PB 3-183 LOT 24 LESS E10FT BLK 4 LOT SIZE 49.910 X 144 OR 11967-279 1183 1
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
Borque Group Realty, LLC.
(305) 699-3073
Listed By:
Hilal Borque · License #3256299
(305) 699-3073
Added: Jul 18
Changed: Aug 7
Last Checked: Aug 23 at 7:06PM
MLS# A12012030
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex at 5204-5206 N Miami Ave is a block-built property with ceramic tile flooring and shingle roofing. The layout includes seven bedrooms and four bathrooms, with cooling provided by window unit(s) and wall/window unit(s). The property also has public water service and public sewer.
The site is described as part of Miami’s Little Haiti/Little River corridor and offers visibility along a high-traffic commercial corridor. The property is noted as having flexible T-commercial zoning, supporting retail, office, or service-based uses, and it is positioned among new projects, restaurants, and creative businesses.
Built in 1964, the duplex provides a centrally located option for either an owner-user or an income-oriented buyer seeking a property with adaptable use potential in a high-activity area.
The site is described as part of Miami’s Little Haiti/Little River corridor and offers visibility along a high-traffic commercial corridor. The property is noted as having flexible T-commercial zoning, supporting retail, office, or service-based uses, and it is positioned among new projects, restaurants, and creative businesses.
Built in 1964, the duplex provides a centrally located option for either an owner-user or an income-oriented buyer seeking a property with adaptable use potential in a high-activity area.
Key Highlights
- Two‑unit duplex at 5204‑5206 N Miami Ave
- Zoned for flexible T‑commercial uses supporting retail, office, or service‑based uses
- 2,943 SF; block construction with ceramic tile flooring
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
Yes
Paved road access
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 duplex zoned for flexible T-commercial uses with block construction, tile flooring, and public water and sewer.
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 duplex at 5204‑5206 N Miami Ave; Zoned for flexible T‑commercial uses supporting retail, office, or service‑based uses; 2,943 SF; block construction with ceramic tile flooring
