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    1117 13Th St Miami, FL 33129
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    1117 13Th St, Miami, FL 33129

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    • Small apartment buildings
    Off-Market
    Property ID
    US18-3115534
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 1117 13Th St

    Year built
    1938
    Property type
    Small apartment buildings

    Description

    This stunning two-unit duplex, located at 1117 SW 13th St, Miami, FL 33129, presents a rare investment opportunity in Miami's desirable Miami-Dade County. Built in 1938, this two-story building boasts hurricane impact windows throughout, providing peace of mind and enhanced security. The property comprises two distinct units, offering a combined total of seven bedrooms and six bathrooms. The front unit features three bedrooms and two bathrooms, while the rear unit, completely remodeled in 2022, offers four bedrooms and four bathrooms. Each unit is equipped with its own in-unit washer and dryer, adding to the convenience and appeal for tenants. Situated just minutes from the vibrant Calle Ocho and the bustling Brickell financial district, this property benefits from an unparalleled location, offering easy access to a wealth of amenities, entertainment, and employment opportunities. The asking price for this exceptional property is $1,774,999. This is an ideal opportunity for investors seeking a high-return property in a rapidly appreciating market. The combination of a prime location, updated units, and strong rental potential makes this duplex a truly exceptional investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.213049
    Latitude
    25.7611087

    Comparable in this City

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      Miami Fourplex with Redevelopment Potential

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      Renovated Multifamily Building in Miami

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      2,178 SF

      Miami Multifamily Investment Opportunity

      Multifamily property in high-demand Miami location near Brickell and Downtown.
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      Versatile Commercial Space Near Brickell

      Approximately 1,500 SF space near major transit routes.
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      Turnkey Office Space Available

      Professional office space with excellent natural light and city views.
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    Similar Nearby for Sale

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      Renovated Multifamily Building in Miami

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    • $2,050,000
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      Miami Fourplex with Redevelopment Potential

      Fourplex in Miami's Brickell Estates with strong rental income.
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      2,178 SF

      Miami Multifamily Investment Opportunity

      Multifamily property in high-demand Miami location near Brickell and Downtown.
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      Versatile Commercial Space Near Brickell

      Approximately 1,500 SF space near major transit routes.
      1779 SW 3Rd Ave, Miami, FL 33129
      View Details
    • Contact for pricing

      Turnkey Office Space Available

      Professional office space with excellent natural light and city views.
      2600 SW 3Rd Ave, Miami, FL 33129
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    Similar Nearby for Lease

    • $2,300 /Mo

      Renovated Apartments in Prime Location

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    • $12 SF/Yr

      Duplex Near Brickell, Miami

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    • $2,500 /Mo

      Spanish Revival 2-Bed Apartment

      Spanish Revival 2-bedroom unit with central A/C and included water, set in a Miami neighborhood near major routes.
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    • $775 /Mo
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      Furnished Office Space Available

      Private, furnished office space with amenities in Miami, FL.
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      Furnished Private Office Space Available

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    • $6,800 /Mo
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      Miami Mixed-Use Space For Rent

      Approximately 1,500 SF space in outstanding Miami location.
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    Miami, FL 33129
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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