12-Unit Apartment
648 NE 80th St, Miami, FL 33138
For Sale
New
$2,350,000
Gated 1938 property with impact windows and doors, mini-split air conditioning, and private parking.
Property Size5,677 SF
Price / SF$413.95
Days on Market2
Property Features for 648 NE 80th St
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Public Transit
Additional Details
Multifamily Units
Tenant in Place
Amenities
gated premises
impact windows and doors
mini-split air conditioning
updated interiors
private on-site parking
Building Details
Building Size
Year Built
Units
Listing Agency:
The Alpha Commercial Advisors LLC
(305) 697-7011
Listed By:
Steffanie Jacobson · License #3344319
(609) 226-6390
Source:
Futureoptionrealty
Added: Nov 7
Changed: Nov 8
Last Checked: Nov 8 at 1:40AM
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.
The 5,677-square-foot apartment property contains 12 units and dates to 1938. Improvements include impact windows and doors, mini-split air-conditioning systems, and interior updates completed over time. The gated site also provides private on-site parking.
Located at 648 NE 80th St in Miami, the property is on the same block as the Biscayne Boulevard and NE 79th Street intersection. Retail, dining, public transportation, and neighborhood amenities are cited in the surrounding area.
Located at 648 NE 80th St in Miami, the property is on the same block as the Biscayne Boulevard and NE 79th Street intersection. Retail, dining, public transportation, and neighborhood amenities are cited in the surrounding area.
Key Highlights
- 12 apartments within a 5,677‑square‑foot property
- Built in 1938
- Gated site with private on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,873
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,097,460
$2.1M
Cap Rate 7%
$1,498,186
$1.5M
Cap Rate 9%
$1,165,256
$1.2M
Market Conditions
NOI Build-Up for 5,677 SF
Gross rent
$204.4K $36.00/SF
− Vacancy
−$13.7K −$2.41/SF
EGI
$190.7K $33.59/SF
− OpEx
−$85.8K −$15.11/SF
NOI
$104.9K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,097,460
Cap Rate 7%
$1,498,186
Cap Rate 9%
$1,165,256
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $104,873 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.83M
$3.35M – $4.47M
NOI $268,241 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
2,673
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
$686,300
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Miami, FL
Properties on Market for Apartment buildings in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Gated 1938 property with impact windows and doors, mini-split air conditioning, and private parking.
Where is this apartment building located?
The property is located at 648 NE 80th St Miami, FL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 12 apartments within a 5,677‑square‑foot property; Built in 1938; Gated site with private on‑site parking
