8-Unit Apartment
For Sale
$2,750,000
1125 Northeast 80th Street, Miami, FL 33138
Updated, fully occupied apartment property with impact doors and windows, tenant outdoor areas, and on-site parking.
Property Size4,600 SF
Lot Size0.29 Acres
Price / SF$597.83
Days on Market926
Property Features for 1125 Northeast 80th Street
General Information
Standard status
Active
Size
4,600 SF
Total Parking Spaces
9
Lot size
0.29 Acres
Property subtype
Commercial/Industrial / Fourplex
Zoning
T-5-R
Occupancy
100%
Net Operating Income
$173,260
Financials
Cap Rate
6%
Gross Income
$220,800
Units
Unit Mix
2 x 2BR/1BA, 4 x 1BR/1BA, 2 x studio
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$24,371
Building Details
Year Built
1956
Listing Agency:
Keller Williams Elite Properties
Listed By:
Jose Anzola · License #3396503
(305) 931-2224
Source:
Compass
Added: Apr 8, 2024
Changed: Oct 19
Last Checked: Oct 19 at 8:43AM
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 Keller Williams Elite Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 4,600 SF on a 12,516 SF lot and was built in 1956. The unit mix includes two 2/1 apartments, four 1/1 apartments, and two studios. All doors and windows are impact, and the building completed its 40 Years Recertification in 2016. The property is 100% occupied and provides 9 parking spaces along with outdoor areas for tenants.
The property is in east Shorecrest, east of Biscayne Blvd and approximately half a block from Bay & NE 79 St. T-5-R zoning allows building up to 5 stories. The asset has a 6% cap rate and may also support future land banking or redevelopment planning based on the stated zoning allowance.
The property is in east Shorecrest, east of Biscayne Blvd and approximately half a block from Bay & NE 79 St. T-5-R zoning allows building up to 5 stories. The asset has a 6% cap rate and may also support future land banking or redevelopment planning based on the stated zoning allowance.
Key Highlights
- 8‑unit property with 4,600 SF building area on a 12,516 SF lot
- Unit mix: 2 2/1 units, 4 1/1 units, and 2 studios
- 100% occupied with 9 parking spaces and outdoor tenant areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,978
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,699,560
$1.7M
Cap Rate 7%
$1,213,971
$1.2M
Cap Rate 9%
$944,200
$944.2K
Market Conditions
NOI Build-Up for 4,600 SF
Gross rent
$165.6K $36.00/SF
− Vacancy
−$11.1K −$2.41/SF
EGI
$154.5K $33.59/SF
− OpEx
−$69.5K −$15.11/SF
NOI
$85.0K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,699,560
Cap Rate 7%
$1,213,971
Cap Rate 9%
$944,200
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.42M
NOI $84,978 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.11M
$2.72M – $3.62M
NOI $217,352 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated, fully occupied apartment property with impact doors and windows, tenant outdoor areas, and on-site parking.
Where is this apartment building located?
The property is located at 1125 Northeast 80th Street Miami, FL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 8‑unit property with 4,600 SF building area on a 12,516 SF lot; Unit mix: 2 2/1 units, 4 1/1 units, and 2 studios; 100% occupied with 9 parking spaces and outdoor tenant areas
