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    North Beach Multifamily Investment Opportunity Title is generated by Realmo AI

    790 81st St, Miami Beach, FL 33141

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    For Sale
    $2,250,000

    Miami Beach 10-unit building near the beach, fully rented.

    Type:Commercial
    Lot size:
    0.13 Acres
    Added:
    Nov 27, 2025
    Days on Market:
    188
    Last Refresh:
    May 10 at 10:29 pm

    Property Features for 790 81st St

    General Information

    Standard status
    Active
    Lot size
    0.13 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1958

    We can help!

    Listing Contact
    Michael Maakar
    Michael Maakar

    Listing agent Michael Maakar License #3268088

    Listing office

    Listing date Nov 27, 2025

    Source Elliman

    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 Michael Maakar

    HighLights

    • Fully rented 10‑unit multifamily building, providing immediate rental income.
    • Large one‑bedroom units, averaging 720 SF, appealing to a wide range of tenants.
    • Prime location in North Beach, Miami Beach, close to Collins Avenue and the beach.
    • New 2023 flat roof, reducing immediate maintenance concerns.
    • Recently completed 40/50 year re‑certification (06/04/2019), ensuring structural integrity.
    • Spacious building with 8446 SF under air.

    Overview

    Located in the northern part of Miami Beach, 790 81st Street is a two-story multifamily building constructed in 1958. The property contains 10 units, all large one-bedroom apartments, and is fully rented. Situated on the south side of 81st Street and the north side of Collins Avenue, it is located a few blocks from the beach in North Beach. The building encompasses 8,446 square feet of air-conditioned space, with an average unit size of 720 square feet. A new flat roof was installed in 2023. The 40/50-year re-certification was completed on June 4, 2019. Unit 1 is rented for $1,750, Units 2, 4, 5, 6, 7, and 9 are rented for $1,700, Unit 3 is rented for $1,600, Unit 8 is rented for $1,500 and Unit 10 is rented for $1,450. The property is well-maintained.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1259
    Latitude
    25.8619

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    FAQs

    What type of property is this?
    Apartment building - Miami Beach 10-unit building near the beach, fully rented.
    Where is this apartment building located?
    The property is located at 790 81st St Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: Fully rented 10‑unit multifamily building, providing immediate rental income.; Large one‑bedroom units, averaging 720 SF, appealing to a wide range of tenants.; Prime location in North Beach, Miami Beach, close to Collins Avenue and the beach.
    (786) 449-6455
    We can help!
    Listing Contact
    Michael Maakar
    Michael Maakar
    Real Estate License ID: 3268088
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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.

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