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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    603 11Th Ave Miami, FL 33130

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0245970
    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.

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 603 11Th Ave

    Year built
    1980
    Property type
    Small apartment buildings

    Description

    This charming 3-unit apartment building presents a fantastic investment opportunity in the heart of Miami's vibrant Little Havana neighborhood. Built in 1980, this two-story property is currently undergoing its 40-year recertification process. Each unit is individually separated and well-maintained, offering a comfortable living space for residents. All bedrooms are located upstairs, along with a full bathroom in each unit. Two of the three units also feature a convenient half-bathroom on the first floor. The property boasts long-term, reliable tenants who are responsible for their own electricity and water bills. This presents a low-maintenance investment with a history of consistent occupancy. The asking price for this exceptional property is $1,170,000. Given the strong tenant history and desirable location, this multifamily investment is poised for continued success. Don't miss this chance to acquire a well-maintained property in a thriving Miami neighborhood. Act quickly

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2126001
    Latitude
    25.7676201

    Comparable in this City

    • $1,195,000
      2,752 SF

      Little Havana Multifamily Investment

      Renovated Fourplex, High Income Potential
      236 10Th Ave, Miami, FL 33130
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    • $1,580,000
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      Prime Miami Duplex - Little Havana

      Historic 2-unit building, redevelopment potential.
      405 11Th Ave, Miami, FL 33130
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    • $45,000

      Miami Brickell Storage Units

      Prime Brickell storage, owner-only.
      40 13Th St, Miami, FL 33130
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    • $1,615,000

      Little Havana Multifamily Investment

      Fourplex, fully renovated, high demand.
      112 11Th Ave, Miami, FL 33130
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    • $1,990,000

      Multifamily Property Near Downtown Miami

      Six-unit multifamily property near Downtown Miami and Brickell.
      29 SW 9Th Ave, Miami, FL 33130
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    • $5,200,000

      Little Havana Studio Apartment Building

      2021-built 18-unit studio near Calle Ocho and Downtown.
      542 SW 3Rd St, Miami, FL 33130
      View Details

    Similar Nearby for Sale

    • $1,195,000
      2,752 SF

      Little Havana Multifamily Investment

      Renovated Fourplex, High Income Potential
      236 10Th Ave, Miami, FL 33130
      View Details
    • $1,580,000
      4,950 SF

      Prime Miami Duplex - Little Havana

      Historic 2-unit building, redevelopment potential.
      405 11Th Ave, Miami, FL 33130
      View Details
    • $45,000

      Miami Brickell Storage Units

      Prime Brickell storage, owner-only.
      40 13Th St, Miami, FL 33130
      View Details
    • $18,000,000
      79,487 SF

      Havana River Assemblage: Miami Development Site

      1.82-acre mixed-use development opportunity
      606 Flagler St, Miami, FL 33130
      View Details
    • $1,899,999
      0.13 Acres

      Renovated Multifamily Investment Opportunity

      Fully renovated 6-unit multifamily in Little Havana with strong income.
      500 SW 8Th Ave, Miami, FL 33130
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    • $2,200,000
      0.13 Acres

      Renovated Multifamily in Little Havana

      Fully renovated 6-unit multifamily property in Little Havana.
      Miami, FL 33130
      View Details

    Similar Nearby for Lease

    • $2,750 /Mo

      Modern Live-Work Space Available

      Modern 2 bed + den live/work space near Calle 8.
      403 SW 12Th Ave, Miami, FL 33130
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    • $2,300 /Mo

      Renovated Apartment Near Downtown Miami

      Top-floor apartment with double balcony and downtown views.
      546 SW 1St St, Miami, FL 33130
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    • $1,850 /Mo

      Miami Apartment For Rent

      One bedroom, one bath apartment in central Miami location.
      459 SW 43Rd St, Miami, FL 33130
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    • $1,500 /Mo

      Remodeled Studio in Brickell

      Fully remodeled studio in the heart of Brickell, Miami.
      940 SW 42Nd St, Miami, FL 33130
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    • $2,049 /Mo

      Spacious Apartment Ready to Move

      Apartment with balcony, community laundry, well-maintained building, excellent location.
      637 SW 10Th Ave, Miami, FL 33130
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    • $1,850 /Mo

      First Floor Unit Near Brickell

      First floor apartment near Brickell with parking and in-unit laundry.
      979 SW 102Nd St, Miami, FL 33130
      View Details
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    603 11Th Ave
    Miami, FL 33130
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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.

    More about this property
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