Condo Multifamily
6856 Abbott Avenue Miami Beach, FL 33141
For Sale
$1,250,000
Five rented units are offered in a condo building with assigned parking for each unit.
Property Size2,645 SF
Price / SF$472.59
Days on Market1267
Property Features for 6856 Abbott Avenue
General Information
- Standard status
- Active
- Size
- 2,645 SF
- Property subtype
- Commercial/Industrial / Income/Multi Family
Building Details
- Year Built
- 1966
Listing Agency:
Elite Ocean View Realty LLC
(305) 600-1278
Listed By:
Teodoro Palmieri · License #3066859
(305) 600-1278
Source:
Compass
Added: Feb 3, 2023
Changed: Jul 22
Last Checked: Jul 23 at 8:10AM
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 Elite Ocean View Realty LLC
Investment Insights
Based on property information with market context.
This condo building contains five units, offered as a bulk sale or separately. The units are currently rented and are designed to provide immediate income for the buyer. Each unit includes an assigned parking space, supporting straightforward day-to-day tenant access.
The property is located close to the ocean in Miami Beach and is described as being in one of the area’s best locations. A low maintenance fee is noted in the remarks.
With five independently rented units and assigned parking throughout the building, the property presents a compact multifamily configuration within a condo structure.
The property is located close to the ocean in Miami Beach and is described as being in one of the area’s best locations. A low maintenance fee is noted in the remarks.
With five independently rented units and assigned parking throughout the building, the property presents a compact multifamily configuration within a condo structure.
Key Highlights
- Five‑unit condo building built in 1966
- All five units are currently rented
- Each unit has an assigned parking space
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 | $77.4k | $29.28 |
| − Vacancy | −$3.5k | −$1.32 |
| EGI | $74.0k | $27.96 |
| − OpEx | −$33.3k | −$12.58 |
| NOI | $40.7k | $15.38 |
2,645 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$581.1K
$508.5K – $678.0K
NOI $40,678 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.57M
NOI $93,934 @ 7.0% cap · market cap 7.51%
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 - Five rented units are offered in a condo building with assigned parking for each unit.
Where is this apartment building located?
The property is located at 6856 Abbott Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Five‑unit condo building built in 1966; All five units are currently rented; Each unit has an assigned parking space
