6-Unit Apartment
1385 NE 105th St, Miami Shores, FL 33138
For Sale
$1,875,000
Six one-bedroom residences include screened patios, with den space in select units.
Property Size4,767 SF
Price / SF$393.33
Days on Market81
Property Features for 1385 NE 105th St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
screened-in patio
flexible den areas
impact windows & doors
Building Details
Building Size
Year Built
Listing Agency:
The Alpha Commercial Advisors LLC
Listed By:
Jamie Maniscalco · License #3391005
(305) 697-7011
Source:
Debuirerealty
Added: Aug 20
Changed: Nov 7
Last Checked: Nov 7 at 1:15PM
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 The Alpha Commercial Advisors LLC
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Investment Insights
Based on property information with market context.
Built in 1962, this 4,767-square-foot apartment property contains six one-bedroom residences of approximately 795 square feet each. Every unit has a screened patio, and some include a den. Improvements include impact-rated windows and doors, surface parking, and a roof completed in September 2026.
The property is east of Biscayne Boulevard and near the waterfront in Miami Shores. Nearby recreational and retail options include golf, tennis, waterfront activities, grocery stores, dining, and neighborhood shops.
Interior updates, in-unit laundry installation, and conversion of remaining units to central air conditioning are identified as potential improvements.
The property is east of Biscayne Boulevard and near the waterfront in Miami Shores. Nearby recreational and retail options include golf, tennis, waterfront activities, grocery stores, dining, and neighborhood shops.
Interior updates, in-unit laundry installation, and conversion of remaining units to central air conditioning are identified as potential improvements.
Key Highlights
- Six one‑bedroom residences, approximately 795 SF each
- 4,767‑square‑foot property built in 1962
- Screened patios serve all units; select residences have den areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,313
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,260
$1.5M
Cap Rate 7%
$1,047,329
$1.0M
Cap Rate 9%
$814,589
$814.6K
Market Conditions
NOI Build-Up for 4,767 SF
Gross rent
$139.6K $29.28/SF
− Vacancy
−$6.3K −$1.32/SF
EGI
$133.3K $27.96/SF
− OpEx
−$60.0K −$12.58/SF
NOI
$73.3K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,260
Cap Rate 7%
$1,047,329
Cap Rate 9%
$814,589
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.4K – $1.22M
NOI $73,313 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,295 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,224
Businesses Nearby
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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
$686,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Miami-Dade County, FL
Properties on Market for Apartment buildings in Miami-Dade County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom residences include screened patios, with den space in select units.
Where is this apartment building located?
The property is located at 1385 NE 105th St Miami Shores, FL.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Six one‑bedroom residences, approximately 795 SF each; 4,767‑square‑foot property built in 1962; Screened patios serve all units; select residences have den areas
