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    200 Azure Way Miami Springs, FL 33166

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    For Sale
    $7,750,000

    Multi Family - Miami Springs, FL

    Type:Single Family Attached
    Added:
    Mar 10, 2026
    Days on Market:
    49
    Last Refresh:
    Apr 27 at 3:06 am

    Property Features for 200 Azure Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Single Family Attached
    Zoning
    3700
    Parking
    24
    Standard status
    Active
    APN
    05-30-24-006-2210

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    49525

    Building Details

    Year built
    1926
    Number of units
    23
    Flooring type
    Concrete
    Building materials
    Block
    Architectural style
    Other

    We can help!

    Listing Contact
    Beatriz Acosta-Rubio

    Listing agent Beatriz Acosta-Rubio License #3122337

    Listing office Lokation 1900 N Bayshore Dr 1A Ste 120, Pompano Beach, FL

    Listing date Mar 10, 2026

    MLS# A11790088 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Miami Springs Multifamily Investment Opportunity

    This is an investor opportunity in Miami Springs, featuring the Osceola Apartments/Hotel/Multifamily property. The seller will finance 70%. This historic 2-story V-shaped building features 23 apartments arranged around a central courtyard. Each wing of the V extends as a 2-story building, with an additional 1-story building housing 5 studios. Osceola exemplifies the Mission Revival architectural style, showcasing flat roofs and irregular parapets, towers with distinctive openings, prominent water spouts, Mission bell cote motifs, and rough-textured stucco finishes. A full major renovation was completed in 2014, while the exterior maintains its historic 1926 charm. Situated near a golf course, Miami International Airport, and Freedom Park Soccer Village stadium with 25,000 seats, it presents an opportunity in a prime location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Springs
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.285346
    Latitude
    25.819047

    Nearby Similar for Sale

    • $1,350,000

      Miami Springs Office Warehouse For Sale

      Office warehouse with ample parking, near the airport.
      660 Miller Dr, Miami Springs, FL 33166
      View Details
    • $7,750,000
      16,826 SF

      Miami Springs Multifamily Investment Opportunity

      Historic 23-unit multifamily property in prime Miami Springs location.
      200 Azure Way, Miami Springs, FL 33166
      View Details
    • $20,172,000
      26,947 SF

      Renovated Retail Investment Property

      Fully stabilized retail property with national and local tenants.
      1 S Royal Poinciana Blvd, Miami Springs, FL, 33166-6058
      View Details

    FAQs

    What type of property is this?
    Apartment building - Historic 23-unit multifamily property in prime Miami Springs location.
    Where is this apartment building located?
    The property is located at 200 Azure Way Miami Springs, FL.
    What is the asking price?
    The asking price for this property is $7,750,000.
    What are key features of this property?
    This property features: Seller financing available at 70%.; Prime location near Miami International Airport, Golf Course, and Freedom Park Soccer Village stadium.; Multifamily property with 23 apartments/hotel opportunity.
    (954) 545-5583
    We can help!
    Listing Contact
    Beatriz Acosta-Rubio
    Real Estate License ID: 3122337
    Learn More
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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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