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6 Plex plus Vacant Lot 729 NW 55th Ter 6 Unit Apartment Building $2,562,714 CAD ($427,119 CAD/Unit) 7% Cap Rate Miami, FL 33127
Investment Highlights
- One block from I-95
- Extra lot for new construction
- Rapidly developing area
Executive Summary
PLANS ARE APPROVED! ONE FOLIO, TWO LOTS!
Welcome to this property located near the busy intersection of NW 7th Avenue and 55th Terrace in Miami, FL. This property is in a highly developing area with a mix of commercial, residential; near bus stops, gas stations, & I-95. The property is being offered AS-IS by owner; needs funds for another project. Price of $1,800,000 at 7% cap rate based on Proforma. INCLUDES vacant, empty lot on same property for future construction DUPLEX zoned OR change to T4-O (City of Miami process) and build a FOURPLEX.
The total property size is 13,100 square feet.
Building needs the following new: outside plumbing work from main water meter, meters in electrical meter room & feeders running to panels, 50 sq/ft laundry room, mini-split ACs for each bedroom, and new sidewalk/roadway on frontage. Please review the attached PDFs. An As-Built Letter is available for Structural legalization inspections.
FYI, FOUR NEW 3/2 TOWNHOMES CONSTRUCTED ACROSS THE STREET ASKING $5300 RENT EACH. DEVELOPMENT CONTINUES TO HAPPEN ON NW 7 AVE CORRIDOR.
Welcome to this property located near the busy intersection of NW 7th Avenue and 55th Terrace in Miami, FL. This property is in a highly developing area with a mix of commercial, residential; near bus stops, gas stations, & I-95. The property is being offered AS-IS by owner; needs funds for another project. Price of $1,800,000 at 7% cap rate based on Proforma. INCLUDES vacant, empty lot on same property for future construction DUPLEX zoned OR change to T4-O (City of Miami process) and build a FOURPLEX.
The total property size is 13,100 square feet.
Building needs the following new: outside plumbing work from main water meter, meters in electrical meter room & feeders running to panels, 50 sq/ft laundry room, mini-split ACs for each bedroom, and new sidewalk/roadway on frontage. Please review the attached PDFs. An As-Built Letter is available for Structural legalization inspections.
FYI, FOUR NEW 3/2 TOWNHOMES CONSTRUCTED ACROSS THE STREET ASKING $5300 RENT EACH. DEVELOPMENT CONTINUES TO HAPPEN ON NW 7 AVE CORRIDOR.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$198,183
|
$58.29
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$198,183
|
$58.29
|
| Taxes |
$18,793
|
$5.53
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$18,793
|
$5.53
|
| Net Operating Income |
$179,390
|
$52.76
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $198,183 |
| Annual Per SF | $58.29 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $198,183 |
| Annual Per SF | $58.29 |
| Taxes (CAD) | |
|---|---|
| Annual | $18,793 |
| Annual Per SF | $5.53 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $18,793 |
| Annual Per SF | $5.53 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $179,390 |
| Annual Per SF | $52.76 |
Property Facts
| Price | $2,562,714 CAD | Building Class | C |
| Price Per Unit | $427,119 CAD | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 3,400 SF |
| Cap Rate | 7% | Average Occupancy | 0% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1985 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | T3-O, T5-O - As one property folio number, T3-O, Lot 6 on survey is empty lot (west lot) (DUPLEX ZONED) T5-O, Lot 5 on survey existing multi-family (east lot) | ||
| Price | $2,562,714 CAD |
| Price Per Unit | $427,119 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 3,400 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1985 |
| Opportunity Zone |
Yes |
| Zoning | T3-O, T5-O - As one property folio number, T3-O, Lot 6 on survey is empty lot (west lot) (DUPLEX ZONED) T5-O, Lot 5 on survey existing multi-family (east lot) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Total Assessment | $1,584,823 CAD (2025) | |
| Land Assessment | $315,442 CAD (2025) | Annual Taxes | $18,793 CAD ($5.53 CAD/SF) |
| Improvements Assessment | $223,026 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$315,442 CAD (2025)
Improvements Assessment
$223,026 CAD (2025)
Total Assessment
$1,584,823 CAD (2025)
Annual Taxes
$18,793 CAD ($5.53 CAD/SF)
Tax Year
2026
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Lenox Hill LLC
6 Plex plus Vacant Lot | 729 NW 55th Ter
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