Triplex with Private
For Sale
$699,000
600 NW 116th Terrace, Miami, FL 33168
Three one-bedroom residences include separate fenced yards, and two have in-unit laundry.
Property Size1,584 SF
Lot Size0.14 Acres
Price / SF$441.29
Days on Market19
Property Features for 600 NW 116th Terrace
General Information
Standard status
Active
Size
1,584 SF
Lot size
0.14 Acres
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
3 x 1/1
Multifamily Units
3
Additional Details
Gross Income
$63,000
Utilities to Site
Yes
Tenant in Place
Yes
Amenities
private fenced yards
in-unit laundry
Building Details
Year Built
1956
Tenancy
Multi
Listing Agency:
Sigma Real Estate & Investment
(786) 790-6961
Listed By:
Kristopher C Rodriguez · License #3323837
(305) 336-1843
Source:
Isaacsrealestate
Added: Oct 13
Changed: Oct 28
Last Checked: Oct 28 at 3:39PM
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-SF triplex contains three 1-bedroom, 1-bathroom units, each with a private fenced yard. All three residences are rented and have been remodeled. Two units include interior laundry, and the property is served by one water meter. The roof is described as being in good condition. A septic system and drain field were installed in September 2026.
The property occupies a corner lot of more than 6,000 SF, with off-street parking. Two of the three tenants are on month-to-month terms.
The property occupies a corner lot of more than 6,000 SF, with off-street parking. Two of the three tenants are on month-to-month terms.
Key Highlights
- Three 1‑bedroom, 1‑bathroom units totaling 1,584 SF
- More than 6,000 SF corner lot with three separate fenced yards
- All three units are rented and have been remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,768
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,360
$635.4K
Cap Rate 7%
$453,829
$453.8K
Cap Rate 9%
$352,978
$353.0K
Market Conditions
NOI Build-Up for 1,584 SF
Gross rent
$48.5K $30.60/SF
− Vacancy
−$3.1K −$1.95/SF
EGI
$45.4K $28.65/SF
− OpEx
−$13.6K −$8.60/SF
NOI
$31.8K $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 Rate 5%
$635,360
Cap Rate 7%
$453,829
Cap Rate 9%
$352,978
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,768 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$418.0K
$365.8K – $487.7K
NOI $29,262 @ 7.0% cap · market cap 4.19%
Theoretical Best
Specialty Retail
$1.07M
$935.6K – $1.25M
NOI $74,845 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three one-bedroom residences include separate fenced yards, and two have in-unit laundry.
Where is this triplex located?
The property is located at 600 NW 116th Terrace Miami, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three 1‑bedroom, 1‑bathroom units totaling 1,584 SF; More than 6,000 SF corner lot with three separate fenced yards; All three units are rented and have been remodeled
