Corner Lot Apartment
850 Bruce St Miami Beach, FL 33141
For Sale
$1,400,000
Pending
Eight-unit multifamily property with 16 assigned parking spaces and a unit mix of six one-bedroom and two two-bedroom residences.
Property Size7,420 SF
Days on Market2229
Property Features for 850 Bruce St
General Information
Standard status
Pending
Size
7,420 SF
Property subtype
General Commercial
Building Details
Year Built
1958
Listing Agency:
Urban Resource LLC
(305) 403-8686
Listed By:
Laura Veitia · License #0620486
(305) 403-8686
Source:
Xome
Added: Jun 22, 2020
Changed: Jul 25
Last Checked: Jul 25 at 8:49PM
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 Urban Resource LLC
Investment Insights
Based on property information with market context.
This corner lot apartment building offers eight residential units and includes 16 assigned parking spaces. The current unit mix is six one-bedroom units and two two-bedroom units.
The larger two-bedroom units include balconies, and the ground-floor two-bedroom unit features a private yard. The property is located in Parkview Isle, across from a park with an exercise circuit, with easy access to North Shore Park, Biscayne Elementary, and Lehrman Community Day School.
The building configuration is designed around spacious, updated interiors and stable tenancy, making it a straightforward value-add multifamily asset for buyers seeking an occupied income property.
The larger two-bedroom units include balconies, and the ground-floor two-bedroom unit features a private yard. The property is located in Parkview Isle, across from a park with an exercise circuit, with easy access to North Shore Park, Biscayne Elementary, and Lehrman Community Day School.
The building configuration is designed around spacious, updated interiors and stable tenancy, making it a straightforward value-add multifamily asset for buyers seeking an occupied income property.
Key Highlights
- 8‑unit multifamily property with a unit mix of six 1BDs and two 2BDs
- 16 assigned parking spaces for residents
- Corner lot building in Parkview Isle, across from a park with an exercise circuit
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 | $217.3k | $29.28 |
| − Vacancy | −$9.8k | −$1.32 |
| EGI | $207.5k | $27.96 |
| − OpEx | −$93.4k | −$12.58 |
| NOI | $114.1k | $15.38 |
7,420 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,115 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,514 @ 7.0% cap · market cap 18.82%
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 - Eight-unit multifamily property with 16 assigned parking spaces and a unit mix of six one-bedroom and two two-bedroom residences.
Where is this apartment building located?
The property is located at 850 Bruce St Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 8‑unit multifamily property with a unit mix of six 1BDs and two 2BDs; 16 assigned parking spaces for residents; Corner lot building in Parkview Isle, across from a park with an exercise circuit
