Vacant Duplex Renovation
For Sale
$597,500
7812 NE Miami Ct, Miami, FL 33138
Built in 1939 and currently vacant for renovation or redevelopment.
Property Size897 SF
Days on Market13
Property Features for 7812 NE Miami Ct
General Information
Standard status
Active
Size
897 SF
Property subtype
Duplex
Property Condition
Severity
Major Repairs Needed
Evidence
full rehab
Taxes and HOA fees
Annual Taxes
$3,022
Building Details
Building Size
897 SF
Year Built
1939
Buildings
2
Listing Agency:
Grant and Associates Real Estate INC
Listed By:
Lavarian Scott Jones · License #3404095
Source:
Vanessafrankmiami
Added: Sep 14
Changed: Sep 24
Last Checked: Sep 26 at 11:55AM
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 Grant and Associates Real Estate INC
Investment Insights
Based on property information with market context.
This duplex property was constructed in 1939 and is currently vacant. The existing improvements require significant renovation, with the source information identifying full rehabilitation, redevelopment, or potential new construction as possible project directions.
The property is located in Miami’s Little Haiti neighborhood, an area described as experiencing ongoing development and new construction. A neighboring property at 7822 NE Miami Ct is also referenced in the offering, and the seller prefers a combined sale of both properties.
The property is located in Miami’s Little Haiti neighborhood, an area described as experiencing ongoing development and new construction. A neighboring property at 7822 NE Miami Ct is also referenced in the offering, and the seller prefers a combined sale of both properties.
Key Highlights
- Duplex property built in 1939
- Currently vacant for renovation planning
- Existing improvements require significant renovation
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
$17,990
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
3.01%
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%
$359,800
$359.8K
Cap Rate 7%
$257,000
$257.0K
Cap Rate 9%
$199,889
$199.9K
Market Conditions
NOI Build-Up for 897 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
$27.4K $30.60/SF
− Vacancy
−$1.7K −$1.95/SF
EGI
$25.7K $28.65/SF
− OpEx
−$7.7K −$8.60/SF
NOI
$18.0K $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 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%
$359,800
Cap Rate 7%
$257,000
Cap Rate 9%
$199,889
Alternative Uses
Best Use
Multifamily LT 5
$257.0K
$224.9K – $299.8K
NOI $17,990 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$236.7K
$207.1K – $276.2K
NOI $16,571 @ 7.0% cap · market cap 2.77%
Theoretical Best
Specialty Retail
$605.5K
$529.8K – $706.4K
NOI $42,384 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
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
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Frequently Asked Questions
What type of property is this?
Duplex - Built in 1939 and currently vacant for renovation or redevelopment.
Where is this duplex located?
The property is located at 7812 NE Miami Ct Miami, FL.
What is the asking price?
The asking price for this property is $597,500.
What are key features of this property?
This property features: Duplex property built in 1939; Currently vacant for renovation planning; Existing improvements require significant renovation
