New-Construction Duplex with Private
For Sale
$2,000,000
55-53 Northeast 60th Street, Miami, FL 33137
Two-unit residential property under construction with three-bedroom layouts and EV-ready parking.
Property Size2,884 SF
Price / SF$693.48
Days on Market277
Property Features for 55-53 Northeast 60th Street
General Information
Standard status
Active
Size
2,884 SF
Total Parking Spaces
2
Property subtype
Multi-Family Income / Duplex
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,491
Building Details
Year Built
2027
Buildings
1
Construction
contemporary
Listing Agency:
The Keyes Company
(305) 531-5803
Listed By:
Manuel Vidal PA · License #3278608
(305) 531-5803
Source:
Compass
Added: Nov 28, 2025
Changed: Aug 30
Last Checked: Aug 31 at 9:37PM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This duplex is under construction and is planned as a two-unit residential property. Each residence includes an open-concept layout with 3 bedrooms and 2.5 bathrooms, along with private carport parking. The design incorporates contemporary finishes, abundant natural light, and EV charging station readiness. The property is scheduled for completion in 2027.
Located at 55-53 Northeast 60th Street in Miami’s Little River area, the property is positioned near cafes, entertainment, cultural destinations, and multiple Michelin-rated and acclaimed restaurants within five minutes. The surrounding district has also seen new companies, creative spaces, and residential development over the past three years.
Located at 55-53 Northeast 60th Street in Miami’s Little River area, the property is positioned near cafes, entertainment, cultural destinations, and multiple Michelin-rated and acclaimed restaurants within five minutes. The surrounding district has also seen new companies, creative spaces, and residential development over the past three years.
Key Highlights
- Two‑unit duplex under construction with completion scheduled for 2027
- Each unit offers 3 bedrooms and 2.5 bathrooms
- Private carport parking for both residences
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
$57,840
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
2.89%
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%
$1,156,800
$1.2M
Cap Rate 7%
$826,286
$826.3K
Cap Rate 9%
$642,667
$642.7K
Market Conditions
NOI Build-Up for 2,884 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
$88.3K $30.60/SF
− Vacancy
−$5.6K −$1.95/SF
EGI
$82.6K $28.65/SF
− OpEx
−$24.8K −$8.60/SF
NOI
$57.8K $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%
$1,156,800
Cap Rate 7%
$826,286
Cap Rate 9%
$642,667
Alternative Uses
Best Use
Multifamily LT 5
$826.3K
$723.0K – $964.0K
NOI $57,840 @ 7.0% cap · market cap 2.89%
Second Best
Apartment 5plus
$761.1K
$666.0K – $888.0K
NOI $53,277 @ 7.0% cap · market cap 2.66%
Theoretical Best
Specialty Retail
$1.95M
$1.70M – $2.27M
NOI $136,270 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,205
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
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?
Duplex - Two-unit residential property under construction with three-bedroom layouts and EV-ready parking.
Where is this duplex located?
The property is located at 55-53 Northeast 60th Street Miami, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Two‑unit duplex under construction with completion scheduled for 2027; Each unit offers 3 bedrooms and 2.5 bathrooms; Private carport parking for both residences
