Triplex with Private
For Sale
$699,000
600 NW 116th Ter #1-3, Miami, FL 33168
Each of the three residences has a separately fenced outdoor area, with laundry inside two units.
Property Size1,584 SF
Price / SF$441.29
Days on Market19
Property Features for 600 NW 116th Ter #1-3
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Triplex
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$63,000
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,780
Amenities
private fenced yards
laundry
off-street parking
Building Details
Building Size
1,584 SF
Year Built
1956
Buildings
1
Tenancy
Multi
Listing Agency:
Sigma Real Estate & Investment
Listed By:
Kristopher Rodriguez · License #3323837
(305) 823-5516
Source:
Maggirealty
Added: Oct 13
Changed: Oct 29
Last Checked: Oct 29 at 2:43PM
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 three-unit property contains three 1-bedroom, 1-bathroom residences totaling 1,584 SF on a 6,000+ SF corner lot. Each unit has a private fenced yard. Two units include interior laundry, and the property has one water meter. The residences have been remodeled, and all three are currently rented. Two tenants are on month-to-month terms.
Off-street parking serves the property. A new septic system and drain field were installed in September 2026.
Off-street parking serves the property. A new septic system and drain field were installed in September 2026.
Key Highlights
- Three 1‑bedroom, 1‑bathroom units totaling 1,584 SF
- 6,000+ SF corner lot with three separate fenced yards
- All three residences are rented; two tenants are month to month
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
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
Check the figures for this property
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 - Each of the three residences has a separately fenced outdoor area, with laundry inside two units.
Where is this triplex located?
The property is located at 600 NW 116th Ter #1-3 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; 6,000+ SF corner lot with three separate fenced yards; All three residences are rented; two tenants are month to month
