Building Details

Building Size 1,504 SF

Year Built 1948

Stories 1

Listing Agency: Global Pyramid Real Estate

Listed By: Jermaine Young · License #3237313 Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Oct 16 Last Checked: Oct 16 at 10:09AM

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Investment Insights

Based on property information with market context.

This duplex is located between Miami Shores and El Portal, areas known for their proximity to Miami's cultural and commercial centers. Each side of the duplex features two bedrooms and two bathrooms. The property was updated in 2018. It is located a 15-minute drive from Miami Beach, Wynwood, and the Miami Design District, offering access to attractions, restaurants, shopping, and art scenes.

Key Highlights

• Highly desirable location between Miami Shores and El Portal.
• Updated in 2018.
• Each side of duplex has two bedrooms and two bathrooms.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,071

Cap Rate

3.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$501,420 $501.4K

Cap Rate 7%

$358,157 $358.2K

Cap Rate 9%

$278,567 $278.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,504 SF

Gross rent

$37.9K $25.20/SF

− Vacancy

−$2.1K −$1.39/SF

EGI

$35.8K $23.81/SF

− OpEx

−$10.7K −$7.14/SF

NOI

$25.1K $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 Rate 5%

$501,420

Cap Rate 7%

$358,157

Cap Rate 9%

$278,567

Alternative Uses

Best Use

Multifamily LT 5

$358.2K

$313.4K – $417.9K (±1% cap)

NOI $25,071 @ 7.0% cap · market cap 3.93%

Second Best

Apartment 5plus

$330.4K

$289.1K – $385.5K (±1% cap)

NOI $23,130 @ 7.0% cap · market cap 3.63%

Theoretical Best

Office A

$763.0K

$667.7K – $890.2K (±1% cap)

NOI $53,413 @ 7.0% cap · market cap 8.37%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Spa & Massage Center Skin Care Clinic Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

774

Businesses Nearby

Explore this area Business Placement

Demographics for 33168, FL

24,715

Population

6,761

Households

3.7

Avg Household Size

39

Median Age

16%

College-Educated

79%

High-School Grad

3.6 sq mi

ZIP Area

6,865

Density / Sq Mi

$58,636

Median Household Income

$31,984

Median Earnings

$1,576

Median Rent

$329,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Updated duplex near Miami Shores and El Portal.

Where is this duplex located?

The property is located at 534 NW 113th St Miami Shores, FL.

What is the asking price?

The asking price for this property is $638,000.

What are key features of this property?

This property features: Highly desirable location between Miami Shores and El Portal.; Updated in 2018.; Each side of duplex has two bedrooms and two bathrooms.