Duplex with 2022
For Sale
Contact for pricing
821 SW 11th St, Miami, FL 33129
Tenant-occupied property with two-bedroom units, including one residence with an additional den.
Property Size2,010 SF
Price / SF$393.03
Days on Market153
Property Features for 821 SW 11th St
General Information
Standard status
Active
Size
2,010 SF
Total Parking Spaces
3
Property subtype
Multifamily
Zoning
5700
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR+Den/1BA
Multifamily Units
2
Building Details
Year Built
1947
Buildings
1
Units
2
Listing Agency:
Fortune Christie's Intl R.E.
Listed By:
Larry Benard · License #3067866
Source:
Crexi
Added: Apr 3
Changed: Aug 30
Last Checked: Sep 1 at 5:48AM
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 Fortune Christie's Intl R.E.
Investment Insights
Based on property information with market context.
This 2,010-square-foot duplex was built in 1947 and includes two residential units. Each unit has two bedrooms and one bathroom, with one unit also offering a den configured as a third room. The roof was replaced in 2022.
The property is located at 821 SW 11th St in Miami, Florida, near Brickell. It carries zoning designation 5700 and is currently tenant occupied. One unit participates in the Section 8 program. Showings require at least 48 hours’ notice.
The property is located at 821 SW 11th St in Miami, Florida, near Brickell. It carries zoning designation 5700 and is currently tenant occupied. One unit participates in the Section 8 program. Showings require at least 48 hours’ notice.
Key Highlights
- 2,010‑square‑foot duplex at 821 SW 11th St, Miami, FL 33129
- Two units, each with 2 bedrooms and 1 bathroom
- One unit includes a den used as a third room
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
$40,312
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
5.10%
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%
$806,240
$806.2K
Cap Rate 7%
$575,886
$575.9K
Cap Rate 9%
$447,911
$447.9K
Market Conditions
NOI Build-Up for 2,010 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
$61.5K $30.60/SF
− Vacancy
−$3.9K −$1.95/SF
EGI
$57.6K $28.65/SF
− OpEx
−$17.3K −$8.60/SF
NOI
$40.3K $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%
$806,240
Cap Rate 7%
$575,886
Cap Rate 9%
$447,911
Alternative Uses
Best Use
Multifamily LT 5
$575.9K
$503.9K – $671.9K
NOI $40,312 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$530.5K
$464.2K – $618.9K
NOI $37,132 @ 7.0% cap · market cap 4.70%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $94,973 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,477
Businesses Nearby
Explore this area
Business Placement
Demographics for 33129, FL
15,218
Population
8,275
Households
1.8
Avg Household Size
44
Median Age
68%
College-Educated
97%
High-School Grad
1.4 sq mi
ZIP Area
10,870
Density / Sq Mi
$102,969
Median Household Income
$54,935
Median Earnings
$2,241
Median Rent
$573,900
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 - Tenant-occupied property with two-bedroom units, including one residence with an additional den.
Where is this duplex located?
The property is located at 821 SW 11th St Miami, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 2,010‑square‑foot duplex at 821 SW 11th St, Miami, FL 33129; Two units, each with 2 bedrooms and 1 bathroom; One unit includes a den used as a third room
