Totally Renovated 12-Unit Apartment
11530 Griffing Blvd Biscayne Park, FL 33161
For Sale
$2,220,000
Pending
Custom 12-unit apartment building rebuilt in 2008 with complete interior and system upgrades.
Property Size6,523 SF
Days on Market2493
Property Features for 11530 Griffing Blvd
General Information
Standard status
Pending
Size
6,523 SF
Property subtype
General Commercial
Building Details
Year Built
1919
Listing Agency:
Charles Rutenberg Realty Fort
(786) 251-9233
Listed By:
Rosealene Sayre · License #0571220
(786) 251-9233
Source:
Xome
Added: Oct 2, 2019
Changed: Jul 25
Last Checked: Jul 25 at 6:34PM
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 Fort
Investment Insights
Based on property information with market context.
This custom 12-unit apartment building was rebuilt in 2008 and described as a full, gut renovation. The property includes all new HVAC, kitchens, baths, and roof, with updates to the building’s finishes and systems. The building is listed as a reconstructed R1-zoned multifamily structure that is described as blending into the surrounding historic homes.
Located at 11530 Griffing Blvd in Biscayne Park, the remarks describe the property as being in the heart of the community and next to Miami Shores. The building is also noted as having no 40-year recertification requirement.
The offering may also be purchased together with 11520 NE 6th Avenue in Biscayne Park, as indicated in the remarks.
Located at 11530 Griffing Blvd in Biscayne Park, the remarks describe the property as being in the heart of the community and next to Miami Shores. The building is also noted as having no 40-year recertification requirement.
The offering may also be purchased together with 11520 NE 6th Avenue in Biscayne Park, as indicated in the remarks.
Key Highlights
- Custom 12‑unit apartment building rebuilt in 2008 with a total renovation.
- Gut renovation with all‑new HVAC, kitchens, baths, and roof (rebuilt in 2008).
- 14 parking spaces on site.
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 | $191.0k | $29.28 |
| − Vacancy | −$8.6k | −$1.32 |
| EGI | $182.4k | $27.96 |
| − OpEx | −$82.1k | −$12.58 |
| NOI | $100.3k | $15.38 |
6,523 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,319 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.31M
$2.90M – $3.86M
NOI $231,658 @ 7.0% cap · market cap 10.44%
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 - Custom 12-unit apartment building rebuilt in 2008 with complete interior and system upgrades.
Where is this apartment building located?
The property is located at 11530 Griffing Blvd Biscayne Park, FL.
What is the asking price?
The asking price for this property is $2,220,000.
What are key features of this property?
This property features: Custom 12‑unit apartment building rebuilt in 2008 with a total renovation.; Gut renovation with all‑new HVAC, kitchens, baths, and roof (rebuilt in 2008).; 14 parking spaces on site.
