Historic Multifamily Courtyard
200 Azure Way Miami Springs, FL 33166
For Sale
$7,750,000
2-story V-shaped apartment and studio property with 23 apartments arranged around a central courtyard and 2014 major renovation.
Property Size16,826 SF
Price / SF$460.60
Days on Market511
Property Features for 200 Azure Way
General Information
- Standard status
- Active
- Size
- 16,826 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1920
Listing Agency:
Lokation
(786) 519-4467
Listed By:
Beatriz Acosta-Rubio · License #3122337
(786) 519-4467
Source:
Exitrealty
Added: Feb 27, 2025
Changed: Jul 22
Last Checked: Jul 23 at 4:20AM
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 Lokation
Investment Insights
Based on property information with market context.
Osceola Apartments is a historic, Mission Revival-style multifamily building featuring a distinctive 2-story V-shaped layout with 23 apartments arranged around a central courtyard. Each wing of the V is 2 stories, with an additional 1-story building providing 5 studios. Architectural highlights include flat roofs, irregular parapets, towers with distinctive openings, and rough-textured stucco finishes. A full major renovation was completed in 2014, preserving the property’s exterior historic character dating to 1926.
The property is located at 200 Azure Way in Miami Springs, near a golf course, Miami Inter Airport, and Freedom Park Soccer Village stadium (25,000 seats).
The seller is offering financing for 70%, and interested parties can request the OM-T12 and videos for additional details.
The property is located at 200 Azure Way in Miami Springs, near a golf course, Miami Inter Airport, and Freedom Park Soccer Village stadium (25,000 seats).
The seller is offering financing for 70%, and interested parties can request the OM-T12 and videos for additional details.
Key Highlights
- Historic 2‑story V‑shaped building built in 1920 with 23 apartments arranged around a central courtyard
- Additional 1‑story building includes 5 studios
- Completed full major renovation in 2014
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 | $492.7k | $29.28 |
| − Vacancy | −$22.2k | −$1.32 |
| EGI | $470.5k | $27.96 |
| − OpEx | −$211.7k | −$12.58 |
| NOI | $258.8k | $15.38 |
16,826 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.70M
$3.23M – $4.31M
NOI $258,772 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.54M
$7.47M – $9.96M
NOI $597,558 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 2-story V-shaped apartment and studio property with 23 apartments arranged around a central courtyard and 2014 major renovation.
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: Historic 2‑story V‑shaped building built in 1920 with 23 apartments arranged around a central courtyard; Additional 1‑story building includes 5 studios; Completed full major renovation in 2014
