Updated 8-Unit Apartment
1125 NE 80 Street Miami, FL 33138
For Sale
$1,500,000
Pending
Updated 8-unit building with 9 on-site parking spaces and on-site laundry facilities.
Property Size4,576 SF
Lot Size0.29 Acres
Days on Market3152
Property Features for 1125 NE 80 Street
General Information
Standard status
Pending
Size
4,576 SF
Lot size
0.29 Acres
Property subtype
General Commercial
Building Details
Year Built
1956
Listing Agency:
Charles Rutenberg Realty LLC
(954) 817-7299
Listed By:
John Sasso
(954) 817-7299
Source:
Xome
Added: Dec 11, 2017
Changed: Jul 25
Last Checked: Jul 25 at 11:32PM
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 Charles Rutenberg Realty LLC
Investment Insights
Based on property information with market context.
Updated and well-maintained 8-unit apartment property on a large lot. The unit mix consists of two 2/1 apartments, four 1/1 apartments, and two studio units. The property includes outdoor spaces for tenants and on-site laundry, supported by 9 parking spaces.
Located east of Biscayne Blvd, approximately one block to the Bay and NE 79 St. Per the provided information, the T-5-R zoning allows development of a building up to 5 stories. Financial highlights reported include $121,500 in annual gross operating income, $96,088 in annual net operating income, and a 6.4% cap rate at the full list price, with the property stated as 100% occupied.
An upcoming Tri-Rail train station on NE 79th Street is also referenced in the remarks as a driver of additional development in the area over the next few years.
Located east of Biscayne Blvd, approximately one block to the Bay and NE 79 St. Per the provided information, the T-5-R zoning allows development of a building up to 5 stories. Financial highlights reported include $121,500 in annual gross operating income, $96,088 in annual net operating income, and a 6.4% cap rate at the full list price, with the property stated as 100% occupied.
An upcoming Tri-Rail train station on NE 79th Street is also referenced in the remarks as a driver of additional development in the area over the next few years.
Key Highlights
- Updated 8‑unit property on a 12,516 SF lot in east Shorecrest, east of Biscayne Blvd, 1 block to Bay & NE 79 St
- Unit mix: two 2/1 units, four 1/1 units, and two studios; includes 3 guest facilities
- Financials listed: $121,500 GOI, $96,088 NOI, and 6.4% cap rate at full list price
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 | $164.7k | $36.00 |
| − Vacancy | −$11.0k | −$2.41 |
| EGI | $153.7k | $33.59 |
| − OpEx | −$69.2k | −$15.11 |
| NOI | $84.5k | $18.47 |
4,576 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,534 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.09M
$2.70M – $3.60M
NOI $216,218 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Updated 8-unit building with 9 on-site parking spaces and on-site laundry facilities.
Where is this apartment building located?
The property is located at 1125 NE 80 Street Miami, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Updated 8‑unit property on a 12,516 SF lot in east Shorecrest, east of Biscayne Blvd, 1 block to Bay & NE 79 St; Unit mix: two 2/1 units, four 1/1 units, and two studios; includes 3 guest facilities; Financials listed: $121,500 GOI, $96,088 NOI, and 6.4% cap rate at full list price
