Vacant 4-Story Apartment
1080 93rd Street Bay Harbor Islands, FL 33154
1080 93rd Street, Bay Harbor Islands, FL, 33154
$10,800,000
For Sale
$10,800,000
Vacant four-story Art Deco-style building with 16 one-bedroom units and eight two-bedroom units, ready for renovation.
Property Size32,924 SF
Price / SF$328.03
Days on Market52
Property Features for 1080 93rd Street
General Information
- Standard status
- Active
- Size
- 32,924 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1965
Listing agency
Better Homes & Gdns RE Fla 1st
(786) 201-2413
Listed by
Ram Levi
(786) 201-2413
Source
Xome
Added: Jun 1 Updated: Jul 21 at 6:10AM Checked: Jul 21 at 6:10AM
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 Better Homes & Gdns RE Fla 1st
Investment Insights
Based on property information with market context.
This vacant four-story Art Deco-style apartment building features 16 spacious 1-bedroom units with 1.5 bathrooms and eight 2-bedroom units with 2 bathrooms. Unit sizes range from 973 to 1,270 square feet, and the property is described as ready for renovation.
The site is presented as an opportunity to build a new 32-unit residential structure, with zoning allowing up to 65 feet in height (up to 6 floors) and a maximum of 32 units. The property is noted as being within walking distance to Bal Harbour Shops, top-tier restaurants, and an A+ rated school located a few steps away.
The site is presented as an opportunity to build a new 32-unit residential structure, with zoning allowing up to 65 feet in height (up to 6 floors) and a maximum of 32 units. The property is noted as being within walking distance to Bal Harbour Shops, top-tier restaurants, and an A+ rated school located a few steps away.
Key Highlights
- Vacant four‑story Art Deco‑style building ready for renovation
- 16 one‑bedroom units (1.0 bath/1.5 bath) and 8 two‑bedroom units (2.0 bath/2 bath)
- Unit sizes range from 973 SF to 1,270 SF
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $964.0k | $29.28 |
| − Vacancy | −$43.4k | −$1.32 |
| EGI | $920.6k | $27.96 |
| − OpEx | −$414.3k | −$12.58 |
| NOI | $506.3k | $15.38 |
32,924 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$7.23M
$6.33M – $8.44M
NOI $506,349 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.70M
$14.62M – $19.49M
NOI $1,169,261 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Vacant four-story Art Deco-style building with 16 one-bedroom units and eight two-bedroom units, ready for renovation.
Where is this apartment building located?
The property is located at 1080 93rd Street Bay Harbor Islands, FL.
What is the asking price?
The asking price for this property is $10,800,000.
What are key features of this property?
This property features: Vacant four‑story Art Deco‑style building ready for renovation; 16 one‑bedroom units (1.0 bath/1.5 bath) and 8 two‑bedroom units (2.0 bath/2 bath); Unit sizes range from 973 SF to 1,270 SF
