3-Unit Triplex with Private
New
For Sale
$675,000
600 NW 116th Ter, Miami, FL 33168
Each residence has its own fenced yard, and all three units are currently rented.
Property Size1,584 SF
Lot Size0.14 Acres
Price / SF$421.88
Days on Market5
Property Features for 600 NW 116th Ter
General Information
Standard status
Active
Size
1,584 SF
Lot size
0.14 Acres
Property subtype
Triplex
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 1/1
Multifamily Units
3
Additional Details
Gross Income
$62,700
Taxes and HOA fees
Annual Taxes
$5,780
Amenities
private fenced yards
in-unit laundry
Building Details
Building Size
1,584 SF
Year Built
1956
Tenancy
Multi
Listing Agency:
Sigma Real Estate & Investment
Listed By:
Kristopher Rodriguez · License #3323837
(305) 851-7409
Source:
Vanessafrankmiami
Added: Oct 13
Changed: Oct 17
Last Checked: Oct 16 at 5:17PM
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 Sigma Real Estate & Investment
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Investment Insights
Based on property information with market context.
This 1,584-square-foot triplex contains three one-bedroom, one-bathroom units, each with a separate fenced yard. All three residences have been remodeled and are currently occupied. Two units include in-unit laundry, and two of the tenant arrangements are month to month.
The property occupies a corner lot of more than 6,000 square feet and has off-street parking. Water service is provided through one meter. A new septic system and drain field were installed in September 2026. Built in 1956, the property is located at 600 NW 116th Ter in Miami.
The property occupies a corner lot of more than 6,000 square feet and has off-street parking. Water service is provided through one meter. A new septic system and drain field were installed in September 2026. Built in 1956, the property is located at 600 NW 116th Ter in Miami.
Key Highlights
- Three one‑bedroom, one‑bathroom units totaling 1,584 square feet
- Three separate fenced yards, one assigned to each unit
- All units remodeled and currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,089
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,780
$641.8K
Cap Rate 7%
$458,414
$458.4K
Cap Rate 9%
$356,544
$356.5K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$49.0K $30.60/SF
− Vacancy
−$3.1K −$1.95/SF
EGI
$45.8K $28.65/SF
− OpEx
−$13.8K −$8.60/SF
NOI
$32.1K $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 Rate 5%
$641,780
Cap Rate 7%
$458,414
Cap Rate 9%
$356,544
Alternative Uses
Best Use
Multifamily LT 5
$458.4K
$401.1K – $534.8K
NOI $32,089 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$422.2K
$369.5K – $492.6K
NOI $29,557 @ 7.0% cap · market cap 4.38%
Theoretical Best
Specialty Retail
$1.08M
$945.0K – $1.26M
NOI $75,601 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
976
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has its own fenced yard, and all three units are currently rented.
Where is this triplex located?
The property is located at 600 NW 116th Ter Miami, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three one‑bedroom, one‑bathroom units totaling 1,584 square feet; Three separate fenced yards, one assigned to each unit; All units remodeled and currently rented
