Multi-Folio 15-Unit Apartment
6255 Northeast Miami Place Miami, FL 33138
6255 Northeast Miami Place, Miami, FL, 33138
$3,500,000
For Sale
$3,500,000
Four folios totaling 15 units, 100% month-to-month rented, offered as a multi-folio apartment portfolio.
Property Size10,186 SF
Lot Size0.83 Acres
Price / SF$343.61
Days on Market844
Property Features for 6255 Northeast Miami Place
General Information
- Standard status
- Active
- Size
- 10,186 SF
- Lot size
- 0.83 Acres
- Property subtype
- Commercial/Industrial / Income/Multi Family
Building Details
- Year Built
- 1946
Listing agency
First Pro International Rlty
(954) 391-8915
Listed by
Juan Araujo-Roca · License #3244824
(954) 391-8915
Source
Compass
Added: Apr 1, 2024 Updated: Jul 21 at 5:56PM Checked: Jul 22 at 8:29AM
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 First Pro International Rlty
Investment Insights
Based on property information with market context.
This multi-folio sale includes four apartment folios totaling 15 units. The offering is positioned as add-value income property with rentals described as currently under market, and it is reported to be 100% rented on a month-to-month basis.
The portfolio is located near Magic City, with the remarks citing proximity to the Design District, Midtown, and Wynwood. The land is described as totaling 36,000 square feet under T5-R zoning.
The four folios identified in the remarks are 01-3113-056-0490, 01-3113-056-0450, and 01-3113-056-0451 (with the fourth folio referenced within the multi-folio structure).
The portfolio is located near Magic City, with the remarks citing proximity to the Design District, Midtown, and Wynwood. The land is described as totaling 36,000 square feet under T5-R zoning.
The four folios identified in the remarks are 01-3113-056-0490, 01-3113-056-0450, and 01-3113-056-0451 (with the fourth folio referenced within the multi-folio structure).
Key Highlights
- Income‑producing multi‑folio apartment portfolio built in 1946
- 4 folios totalizing 36,000 SF land (T5‑R) with 15 total units
- 100% rented on month‑to‑month terms
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 | $366.7k | $36.00 |
| − Vacancy | −$24.6k | −$2.41 |
| EGI | $342.1k | $33.59 |
| − OpEx | −$154.0k | −$15.11 |
| NOI | $188.2k | $18.47 |
10,186 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.69M
$2.35M – $3.14M
NOI $188,170 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.88M
$6.02M – $8.02M
NOI $481,293 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Four folios totaling 15 units, 100% month-to-month rented, offered as a multi-folio apartment portfolio.
Where is this apartment building located?
The property is located at 6255 Northeast Miami Place Miami, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Income‑producing multi‑folio apartment portfolio built in 1946; 4 folios totalizing 36,000 SF land (T5‑R) with 15 total units; 100% rented on month‑to‑month terms
