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    North Miami Beach Multifamily Property Title is generated by Realmo AI

    17150 NE 23rd Ave, North Miami Beach, FL 33160

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    For Sale
    $2,820,000

    12-unit apartment building in North Miami Beach.

    Type:Multifamily
    Property size:
    10,094 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $279/SF
    Added:
    Apr 3, 2026
    Days on Market:
    68
    Last Refresh:
    Apr 3 at 4:59 am

    Property Features for 17150 NE 23rd Ave

    General Information

    Standard status
    Active
    Size
    10,094 SF
    Lot size
    0.25 Acres
    Property subtype
    Multifamily

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    Listing Contact
    Joseph P. Thomas
    Joseph P. Thomas

    Listing agent Joseph P. Thomas License #FL: SL3174354

    Listing office Fort Lauderdale Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Fort Lauderdale Office

    HighLights

    • 12‑unit multifamily property in North Miami Beach.
    • Unit mix: Four 1‑bedroom/1‑bathroom and Eight 2‑bedroom/1‑bathroom apartments.
    • Central location near Biscayne Boulevard (US‑1) with access to employment, recreation, and shopping.
    • Proximity to Greynolds Park and Greynolds Golf Course.
    • Close to Aventura Mall, Sunny Isles Beach and Haulover Beach.
    • Units equipped with central air conditioning, electric appliances, and ceramic tile floors.

    Overview

    The multifamily property at 17150 Northeast 23rd Avenue in North Miami Beach features a two-story apartment building constructed in 1969. The building is made of concrete block and painted stucco with a flat roof. It comprises 12 units and has 10,094 square feet of living area on a 10,923-square-foot lot. The unit mix includes four one-bedroom/one-bathroom apartments and eight two-bedroom/one-bathroom apartments. Typical units are equipped with central air conditioning, electric appliances, and ceramic tile floors. The property is centrally located in North Miami Beach, west of Biscayne Boulevard (US-1), offering proximity to employment centers, recreational amenities, and shopping destinations. Residents have walkable access to Greynolds Park and Greynolds Golf Course, with convenient access to Aventura Mall, Sunny Isles Beach, Haulover Beach, and various retailers and restaurants. Nearby points of interest include the Judge Arthur Snyder Tennis Center, Greynolds Park, Houston’s, Morton’s The Steakhouse, North Miami Beach Police Department, Julius Littman Performing Arts Theater, P.F. Chang’s, Plum Market, The Vitamin Shoppe/BurgerFi/Panera Bread, Fresh Market, Dicks Sporting Goods, and Walgreens Pharmacy. Aventura Mall and the Aventura Brightline Station are also a short drive away, as is the Fort Lauderdale–Hollywood International Airport. Nearby educational facilities include Scheck Hillel Community School K-12, North Miami Beach High School, John F. Kennedy Middle School, and Saint Lawrence Elementary School.

    Local 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 $295.6k $29.28
    − Vacancy −$13.3k −$1.32
    EGI $282.3k $27.96
    − OpEx −$127.0k −$12.58
    NOI $155.2k $15.38
    10,094 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $2.22M
    $1.94M – $2.59M (±1% cap)
    NOI $155,239 @ 7.0% cap · market cap 5.50%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $5.12M
    $4.48M – $5.97M (±1% cap)
    NOI $358,478 @ 7.0% cap · market cap 12.71%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1467
    Latitude
    25.9339

    FAQs

    What type of property is this?
    Apartment building - 12-unit apartment building in North Miami Beach.
    Where is this apartment building located?
    The property is located at 17150 NE 23rd Ave North Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $2,820,000.
    What are key features of this property?
    This property features: 12‑unit multifamily property in North Miami Beach.; Unit mix: Four 1‑bedroom/1‑bathroom and Eight 2‑bedroom/1‑bathroom apartments.; Central location near Biscayne Boulevard (US‑1) with access to employment, recreation, and shopping.
    More about this property
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