Renovated Duplex with T5
For Sale
$779,000
8011 NE Miami Ct, Miami, FL 33138
Two residential units offer distinct bedroom and bathroom configurations and are master leased.
Property Size2,300 SF
Days on Market8
Property Features for 8011 NE Miami Ct
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$14,443
Building Details
Building Size
2,300 SF
Year Built
1920
Listing Agency:
Master Team Realty, LLC.
Listed By:
Andrea Pereira · License #3372301
Source:
Vanessafrankmiami
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 23 at 7:56AM
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 Master Team Realty, LLC.
Investment Insights
Based on property information with market context.
Renovated duplex comprising two residential units: one with 4 bedrooms and 2 bathrooms, and a second with 2 bedrooms and 1 bathroom. Both units are master leased, providing an established leasing structure for the property.
The asset occupies a 7,406-square-foot lot with T5 zoning in the Little River area of Miami. The property was built in 1920, and vacant delivery is available upon request for a buyer planning to reposition the site.
The asset occupies a 7,406-square-foot lot with T5 zoning in the Little River area of Miami. The property was built in 1920, and vacant delivery is available upon request for a buyer planning to reposition the site.
Key Highlights
- Two‑unit duplex with 4‑bedroom/2‑bath and 2‑bedroom/1‑bath layouts
- Both residential units are master leased
- Fully renovated property built in 1920
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
$46,128
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
5.92%
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%
$922,560
$922.6K
Cap Rate 7%
$658,971
$659.0K
Cap Rate 9%
$512,533
$512.5K
Market Conditions
NOI Build-Up for 2,300 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
$70.4K $30.60/SF
− Vacancy
−$4.5K −$1.95/SF
EGI
$65.9K $28.65/SF
− OpEx
−$19.8K −$8.60/SF
NOI
$46.1K $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%
$922,560
Cap Rate 7%
$658,971
Cap Rate 9%
$512,533
Alternative Uses
Best Use
Multifamily LT 5
$659.0K
$576.6K – $768.8K
NOI $46,128 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$607.0K
$531.1K – $708.2K
NOI $42,489 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,676 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer distinct bedroom and bathroom configurations and are master leased.
Where is this duplex located?
The property is located at 8011 NE Miami Ct Miami, FL.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Two‑unit duplex with 4‑bedroom/2‑bath and 2‑bedroom/1‑bath layouts; Both residential units are master leased; Fully renovated property built in 1920
