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    Palmetto Bay Multifamily Investment Opportunity Title is generated by Realmo AI

    14258 SW 88th Ave, Palmetto Bay, FL 33176

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    For Sale
    $1,600,000

    Well-maintained 6-unit multifamily property in Palmetto Bay.

    Type:Multifamily
    Property size:
    3,539 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $452/SF
    Added:
    Apr 1, 2026
    Days on Market:
    68
    Last Refresh:
    Apr 1 at 11:52 am

    Property Features for 14258 SW 88th Ave

    General Information

    Standard status
    Active
    Size
    3,539 SF
    Lot size
    0.34 Acres
    Property subtype
    Multifamily

    Building Details

    Year Built
    1963

    We can help!

    Listing Contact
    Alec Lau

    Listing agent Alec Lau License #FL #SL3511365

    Listing office

    Listing date Apr 1, 2026

    Source Franklinst

    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 Alec Lau

    HighLights

    • Value‑add 6‑unit multifamily property in Palmetto Bay, offering significant rental upside (almost 27%) and long‑term investment potential.
    • 100% occupied with long‑term tenants, demonstrating strong historical performance and stable cash flow.
    • Prime location in Palmetto Bay, within walking distance to restaurants, retailers, hospitals, public transit, and schools.
    • Most units feature fully remodeled interiors with modern kitchens and bathrooms, including stainless steel appliances and granite countertops.
    • Favorable R‑TH zoning on a large 0.34‑acre lot, allowing for potential future redevelopment.
    • Recent capital improvements include a brand new septic tank & drain field and updated PVC plumbing, with passed recertification inspections.

    Overview

    This is an opportunity to acquire a well-maintained, 6-unit multifamily property in the Village of Palmetto Bay. Constructed in 1963, the property consists of three duplexes situated on a 0.34-acre parcel, totaling 3,539 square feet. The property is currently 100% occupied with long-term tenants. Some capital improvements include a new septic tank and drain field, and updated PVC plumbing. Most of the units feature remodeled interiors with modern kitchens and bathrooms, stainless steel appliances, plank flooring, new paint, new bathroom tile, and new cabinetry with granite countertops. All units are 1 bed, 1 bath + den, featuring central air-conditioning and individual tankless water heaters. The property holds an active hotel license. The location is within walking distance to restaurants, retailers, hospitals/healthcare centers, public transit stations (bus), and schools. It is located east of US-1 just off SW 144th St, providing tenants with easy access to anywhere in Miami-Dade and beyond via Florida's Turnpike, the Don Shula Expressway (SR-874), and the Palmetto Expressway (SR-864).
    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
    Palmetto Bay
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.336004
    Latitude
    25.619725

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      Palmetto Bay Multifamily Investment Opportunity

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 6-unit multifamily property in Palmetto Bay.
    Where is this apartment building located?
    The property is located at 14258 SW 88th Ave Palmetto Bay, FL.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Value‑add 6‑unit multifamily property in Palmetto Bay, offering significant rental upside (almost 27%) and long‑term investment potential.; 100% occupied with long‑term tenants, demonstrating strong historical performance and stable cash flow.; Prime location in Palmetto Bay, within walking distance to restaurants, retailers, hospitals, public transit, and schools.
    (954) 312-1678
    We can help!
    Listing Contact
    Alec Lau
    Real Estate License ID: FL #SL3511365
    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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