Triplex with Private
For Sale
$699,000
600 NW 116th Ter #1-3, Miami, FL 33168
Residential Income, Miami, FL
Property Size1,584 SF
Price / SF$441.29
Days on Market19
Property Features for 600 NW 116th Ter #1-3
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
6400
Bedrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2
Parking
6
Subdivision
PARKWOOD TERRACE
Lot features
< 1/4 Acre
Standard status
Active
APN
30-21-36-032-0350
Size
1,584 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
PARKWOOD TERRACE PB 22-3 LOT 28 BLK 2 LOT SIZE 56.410 X 108 OR 18359-4940-42 1198 1 COC 23217-3799 03 2005 4
Tax Annual Amount
5780
Legal Description
PARKWOOD TERRACE PB 22-3 LOT 28 BLK 2 LOT SIZE 56.410 X 108 OR 18359-4940-42 1198 1 COC 23217-3799 03 2005 4
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
private fenced yard
in-unit laundry
i95 wall protection from storms
Building Details
Year built
1956
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Buildings
1
Listing Agency:
Sigma Real Estate & Investment
(786) 790-6961
Listed By:
Kristopher Rodriguez · License #3323837
(305) 336-1843
Added: Oct 13
Changed: Oct 28
Last Checked: Oct 31 at 10:06AM
MLS# A12106198
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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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 apartments. Each unit has a separate fenced yard, and two include in-unit laundry. The apartments are remodeled and updated, with tile flooring, central heating and air conditioning, and block construction. The building was constructed in 1956.
Set on a corner lot of more than 6,000 square feet east of I-95, the property offers off-street parking. All three apartments are occupied; two tenancies are month to month.
Set on a corner lot of more than 6,000 square feet east of I-95, the property offers off-street parking. All three apartments are occupied; two tenancies are month to month.
Key Highlights
- Three 1‑bedroom, 1‑bathroom apartments totaling 1,584 square feet
- Three private fenced yards, one assigned to each apartment
- More than 6,000 square feet of lot area on a corner parcel
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
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 - Three occupied apartments include individual fenced outdoor areas and off-street parking.
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 apartments totaling 1,584 square feet; Three private fenced yards, one assigned to each apartment; More than 6,000 square feet of lot area on a corner parcel
