Multifamily Property in Little
For Sale
Contact for pricing
Pending
47 NE 80th Ter, Miami, FL 33138
Income-producing five-unit property with redevelopment potential in Miami.
Property Size1,873 SF
Lot Size0.19 Acres
Days on Market660
Property Features for 47 NE 80th Ter
General Information
Standard status
Pending
Size
1,873 SF
Total Parking Spaces
3
Lot size
0.19 Acres
Property subtype
Multifamily
Zoning
6101 T5-0
Building Details
Year Built
1948
Units
5
Listing Agency:
Compass Florida, LLC.
(954) 391-1351
Listed By:
Sheree Saint Victor · License #3503192
Source:
Crexi
Added: Oct 24, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:03AM
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 Compass Florida, LLC.
Investment Insights
Based on property information with market context.
This five-unit multifamily property is located in Miami’s Little River neighborhood. The property sits on an 8,300 square foot lot and is zoned T5-O, which offers redevelopment potential for up to 12 units. The building is of CBS construction and features central AC. The unit mix includes one one-bedroom apartment and four studio apartments. The property is positioned near the Miami Design District, Wynwood, Downtown Miami, beaches, and major expressways. This property is suitable for developers or investors seeking growth potential in one of Miami's evolving neighborhoods. The building has a size of 1,873 square feet and is an income-producing property.
Key Highlights
- Income‑producing multifamily property with 5 units.
- Redevelopment potential for up to 12 units, thanks to T5‑O zoning on an 8,300 SF lot.
- Prime location in Miami's Little River neighborhood.
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
$34,601
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
4.33%
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%
$692,020
$692.0K
Cap Rate 7%
$494,300
$494.3K
Cap Rate 9%
$384,456
$384.5K
Market Conditions
NOI Build-Up for 1,873 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
$67.4K $36.00/SF
− Vacancy
−$4.5K −$2.41/SF
EGI
$62.9K $33.59/SF
− OpEx
−$28.3K −$15.11/SF
NOI
$34.6K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /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%
$692,020
Cap Rate 7%
$494,300
Cap Rate 9%
$384,456
Alternative Uses
Best Use
Apartment 5plus
$494.3K
$432.5K – $576.7K
NOI $34,601 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.26M
$1.11M – $1.48M
NOI $88,500 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,827
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?
Apartment building - Income-producing five-unit property with redevelopment potential in Miami.
Where is this apartment building located?
The property is located at 47 NE 80th Ter Miami, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Income‑producing multifamily property with 5 units.; Redevelopment potential for up to 12 units, thanks to T5‑O zoning on an 8,300 SF lot.; Prime location in Miami's Little River neighborhood.
