Four-Unit Multifamily
For Sale
$1,500,000
800 NE 85th St, Miami, FL 33138
Legal apartment units offer a mix of one- and two-bedroom layouts near Biscayne Boulevard.
Property Size2,358 SF
Price / SF$636.13
Days on Market793
Property Features for 800 NE 85th St
General Information
Standard status
Active
Size
2,358 SF
Property subtype
Quadruplex
Zoning
4600 Multi-family
Site & Location
Neighborhood
Shorecrest
Units
Unit Mix
1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,851
Building Details
Building Size
2,358 SF
Year Built
1961
Listing Agency:
Optimar International Realty
Listed By:
JOFRE GROUP | Real Estate
(305) 984-2494
Source:
Jofregroup
Added: Aug 29, 2024
Changed: Oct 27
Last Checked: Oct 26 at 2:55PM
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 Optimar International Realty
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Investment Insights
Based on property information with market context.
This 2,358-square-foot multifamily property contains four legal apartments: one with two bedrooms and one bathroom, plus three with one bedroom and one bathroom. Each unit has living and dining areas and a walk-in closet. The building dates to 1961, and two apartments are currently vacant.
The property is at 800 NE 85th St in Miami, one block east of Biscayne Boulevard. Miami-Dade tax records identify the primary zoning as 4600 Multi-family 5+stories.
The property is at 800 NE 85th St in Miami, one block east of Biscayne Boulevard. Miami-Dade tax records identify the primary zoning as 4600 Multi-family 5+stories.
Key Highlights
- Four legal apartments: one 2‑bedroom/1‑bath unit and three 1‑bedroom/1‑bath units
- 2,358 square feet; built in 1961
- Two units are currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,291
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$945,820
$945.8K
Cap Rate 7%
$675,586
$675.6K
Cap Rate 9%
$525,456
$525.5K
Market Conditions
NOI Build-Up for 2,358 SF
Gross rent
$72.2K $30.60/SF
− Vacancy
−$4.6K −$1.95/SF
EGI
$67.6K $28.65/SF
− OpEx
−$20.3K −$8.60/SF
NOI
$47.3K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$945,820
Cap Rate 7%
$675,586
Cap Rate 9%
$525,456
Alternative Uses
Best Use
Multifamily LT 5
$675.6K
$591.1K – $788.2K
NOI $47,291 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$622.3K
$544.5K – $726.0K
NOI $43,560 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,417 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,625
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?
Quadplex - Legal apartment units offer a mix of one- and two-bedroom layouts near Biscayne Boulevard.
Where is this quadplex located?
The property is located at 800 NE 85th St Miami, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four legal apartments: one 2‑bedroom/1‑bath unit and three 1‑bedroom/1‑bath units; 2,358 square feet; built in 1961; Two units are currently vacant
