8-Unit Apartment
345 85th St, Miami Beach, FL 33141
For Sale
$2,750,000
Commercial Sale, Miami Beach, FL
Property Size6,336 SF
Lot Size0.18 Acres
Price / SF$434.03
Days on Market97
Property Features for 345 85th St
General Information
Property type
Property subtype
Zoning description
Parking
Parking features
Lot features
Subdivision
Standard status
APN
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Bryan Ozuna · License #3345322
(786) 546-9223
Added: Aug 3
Changed: Oct 16
Last Checked: Nov 7 at 9:06AM
MLS# A12064481
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
At 345 85th St in Miami Beach, this apartment property contains eight one-bedroom, one-bathroom units. The 6,336 SF building was constructed in 1951 using concrete block, with laminate and tile flooring. Wall furnace heating serves the units, and the property has a shingle roof, public water, and public sewer. The 7,680 SF lot includes eight assigned parking spaces. Zoning is RM-1 Multifamily Low Intensity.
Seven of the eight units are occupied, with one currently vacant. The property is described as a short drive from the beach, dining, shopping, entertainment, and major employment centers. Tenant access is by appointment; tenants are not to be disturbed.
Seven of the eight units are occupied, with one currently vacant. The property is described as a short drive from the beach, dining, shopping, entertainment, and major employment centers. Tenant access is by appointment; tenants are not to be disturbed.
Key Highlights
- Eight 1‑bedroom, 1‑bathroom apartments
- Seven of 8 units occupied; one unit vacant
- 6,336 SF building on a 7,680 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,443
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,948,860
$1.9M
Cap Rate 7%
$1,392,043
$1.4M
Cap Rate 9%
$1,082,700
$1.1M
Market Conditions
NOI Build-Up for 6,336 SF
Gross rent
$185.5K $29.28/SF
− Vacancy
−$8.3K −$1.32/SF
EGI
$177.2K $27.96/SF
− OpEx
−$79.7K −$12.58/SF
NOI
$97.4K $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%
$1,948,860
Cap Rate 7%
$1,392,043
Cap Rate 9%
$1,082,700
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.22M – $1.62M
NOI $97,443 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.21M
$2.81M – $3.75M
NOI $225,016 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
8
Residential units
87.5%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,084
Businesses Nearby
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Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Miami Beach, FL
Properties on Market for Apartment buildings in Miami Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - RM-1 zoning and assigned parking support the property’s multifamily configuration.
Where is this apartment building located?
The property is located at 345 85th St Miami Beach, 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: Eight 1‑bedroom, 1‑bathroom apartments; Seven of 8 units occupied; one unit vacant; 6,336 SF building on a 7,680 SF lot
