Triplex with Private Fenced
For Sale
$699,000
600 NW 116th Terrace #13, Miami, FL 33168
Three leased apartments each have a separate fenced yard, with laundry inside two of the units.
Property Size1,584 SF
Price / SF$441.29
Days on Market19
Property Features for 600 NW 116th Terrace #13
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
Amenities
private fenced yards
in-unit laundry
off-street parking
storm protection wall
Building Details
Year Built
1956
Buildings
1
Tenancy
Multi
Listing Agency:
Sigma Real Estate & Investment
(786) 790-6961
Listed By:
Kristopher C Rodriguez · License #3323837
(305) 336-1843
Source:
Lehmannflorida
Added: Oct 13
Changed: Oct 29
Last Checked: Oct 30 at 3:32PM
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 triplex contains three one-bedroom, one-bathroom apartments with a combined 1,584 square feet of living area. Each unit has its own fenced yard, and two include interior laundry. The units have been remodeled, and the property has one water meter. A septic system and drain field were installed in September 2026.
The building sits on a corner lot of more than 6,000 square feet and includes off-street parking. All three apartments are occupied; two tenancies are month-to-month. Interior access is available only with an offer.
The building sits on a corner lot of more than 6,000 square feet and includes off-street parking. All three apartments are occupied; two tenancies are month-to-month. Interior access is available only with an offer.
Key Highlights
- Three 1‑bedroom, 1‑bathroom units with 1,584 SF total living area
- Each apartment has a private fenced yard
- More than 6,000 SF lot on a corner
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 - Three leased apartments each have a separate fenced yard, with laundry inside two of the units.
Where is this triplex located?
The property is located at 600 NW 116th Terrace #13 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 with 1,584 SF total living area; Each apartment has a private fenced yard; More than 6,000 SF lot on a corner
