5-Unit Apartment
For Sale
$875,000
Pending
7411 Carlyle Ave, Miami Beach, FL 33141
The unit mix spans studios through two-bedroom residences with covered porch areas for outdoor living.
Property Size2,668 SF
Days on Market2836
Property Features for 7411 Carlyle Ave
General Information
Standard status
Pending
Size
2,668 SF
Property subtype
General Commercial
Units
Unit Mix
2 x Studio, 2 x 1BD/1BA, 1 x 2BD/1BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$11,450
Amenities
3
1 Parking Spaces.
50
Building Details
Year Built
1946
Buildings
1
Listing Agency:
Urban Resource LLC
(305) 403-2424
Listed By:
Laura Veitia · License #A11994273
(305) 403-8686
Source:
Xome
Added: Nov 30, 2018
Changed: Aug 30
Last Checked: Aug 30 at 9:52PM
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 Urban Resource LLC
Investment Insights
Based on property information with market context.
This 5-unit apartment property, completed in 1946, contains 2 studios, 2 one-bedroom/one-bath apartments, and 1 two-bedroom/one-bath apartment. The front residences connect to a 200-square-foot covered porch, while a separate rear porch adds 100 square feet of covered outdoor area. The property measures 2,668 square feet and includes landscaped grounds.
Located at 7411 Carlyle Ave in Miami Beach’s historic North Shore neighborhood, the building is walkable to the beach, Altos Del Mar Park, North Shore Park, and Ocean Terrace. North Beach Town Center is nearby, with restaurants, places of worship, schools, and other conveniences in the surrounding area. A 40-year Certification was completed in 2016. Street parking is available, and the property includes 1 parking space.
Located at 7411 Carlyle Ave in Miami Beach’s historic North Shore neighborhood, the building is walkable to the beach, Altos Del Mar Park, North Shore Park, and Ocean Terrace. North Beach Town Center is nearby, with restaurants, places of worship, schools, and other conveniences in the surrounding area. A 40-year Certification was completed in 2016. Street parking is available, and the property includes 1 parking space.
Key Highlights
- 5‑unit building with 2 studios, 2 1BD/1BA units, and 1 2BD/1BA unit
- 2,668‑square‑foot apartment property built in 1946
- Front apartments share a 200 sqft covered porch
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,032
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$820,640
$820.6K
Cap Rate 7%
$586,171
$586.2K
Cap Rate 9%
$455,911
$455.9K
Market Conditions
NOI Build-Up for 2,668 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$78.1K $29.28/SF
− Vacancy
−$3.5K −$1.32/SF
EGI
$74.6K $27.96/SF
− OpEx
−$33.6K −$12.58/SF
NOI
$41.0K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$820,640
Cap Rate 7%
$586,171
Cap Rate 9%
$455,911
Alternative Uses
Best Use
Apartment 5plus
$586.2K
$512.9K – $683.9K
NOI $41,032 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,751 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,174
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix spans studios through two-bedroom residences with covered porch areas for outdoor living.
Where is this apartment building located?
The property is located at 7411 Carlyle Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 5‑unit building with 2 studios, 2 1BD/1BA units, and 1 2BD/1BA unit; 2,668‑square‑foot apartment property built in 1946; Front apartments share a 200 sqft covered porch
