Duplex with In-Place
New
For Sale
$826,000
75 NW 116th St, Miami, FL 33168
Both residences are occupied, providing an established rental setup.
Property Size1,893 SF
Days on Market7
Property Features for 75 NW 116th St
General Information
Standard status
Active
Size
1,893 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,179
Amenities
backyard
Building Details
Building Size
1,893 SF
Year Built
1946
Tenancy
Multi
Listing Agency:
Partnership Realty Inc.
Listed By:
Enza Termini · License #3403036
(954) 781-9393
Source:
Vanessafrankmiami
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 21 at 6:00AM
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 Partnership Realty Inc.
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Investment Insights
Based on property information with market context.
This Miami duplex contains two residences, with tenants currently in place on both sides. Built in 1946, the property offers an existing rental configuration.
Key Highlights
- Tenants occupy both sides of the duplex
- Built in 1946
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,965
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,300
$759.3K
Cap Rate 7%
$542,357
$542.4K
Cap Rate 9%
$421,833
$421.8K
Market Conditions
NOI Build-Up for 1,893 SF
Gross rent
$57.9K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$54.2K $28.65/SF
− OpEx
−$16.3K −$8.60/SF
NOI
$38.0K $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%
$759,300
Cap Rate 7%
$542,357
Cap Rate 9%
$421,833
Alternative Uses
Best Use
Multifamily LT 5
$542.4K
$474.6K – $632.8K
NOI $37,965 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$499.6K
$437.1K – $582.8K
NOI $34,970 @ 7.0% cap · market cap 4.23%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,445 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
961
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, providing an established rental setup.
Where is this duplex located?
The property is located at 75 NW 116th St Miami, FL.
What is the asking price?
The asking price for this property is $826,000.
What are key features of this property?
This property features: Tenants occupy both sides of the duplex; Built in 1946
