12-Unit Art Deco Apartment
660 85th St, Miami Beach, FL 33141
For Sale
New
$3,700,000
Four levels include elevator service, covered gated parking, central air conditioning, and private balconies.
Property Size13,400 SF
Price / SF$276.12
Days on Market2
Property Features for 660 85th St
General Information
Standard status
Size
Elevators
Zoning
Occupancy
Additional Details
Gross Income
Multifamily Units
Tenant in Place
Amenities
covered gated parking
central AC
private balconies
6150
13400
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
(954) 953-5363
Listed By:
Jennifer Tejeda
Source:
Onemarketrealestate
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 6 at 2:41PM
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 Jennifer Tejeda
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Investment Insights
Based on property information with market context.
Built in 1989, this 13,400-square-foot, four-story apartment property contains 12 units and features Art Deco design. Building amenities include an elevator, central air conditioning, covered gated parking, and private balconies. Occupancy is 83%, with two units currently vacant.
The property is at 660 85th St in Miami Beach, a few blocks from the Atlantic Ocean and North Beach Oceanside Park. Ocean Terrace redevelopment, Bal Harbour Shops, and major retail amenities are also identified among the nearby destinations.
The property is at 660 85th St in Miami Beach, a few blocks from the Atlantic Ocean and North Beach Oceanside Park. Ocean Terrace redevelopment, Bal Harbour Shops, and major retail amenities are also identified among the nearby destinations.
Key Highlights
- 12 apartments across four stories in an Art Deco‑style building
- 13,400 square feet; built in 1989
- Covered gated parking, elevator service, and central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$206,083
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,121,660
$4.1M
Cap Rate 7%
$2,944,043
$2.9M
Cap Rate 9%
$2,289,811
$2.3M
Market Conditions
NOI Build-Up for 13,400 SF
Gross rent
$392.4K $29.28/SF
− Vacancy
−$17.7K −$1.32/SF
EGI
$374.7K $27.96/SF
− OpEx
−$168.6K −$12.58/SF
NOI
$206.1K $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%
$4,121,660
Cap Rate 7%
$2,944,043
Cap Rate 9%
$2,289,811
Alternative Uses
Best Use
Apartment 5plus
$2.94M
$2.58M – $3.43M
NOI $206,083 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.80M
$5.95M – $7.93M
NOI $475,887 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
12
Residential units
83%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,084
Businesses Nearby
Explore this area
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
$434,500
Median Home Value
Market
Average Price Trend$/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 - Four levels include elevator service, covered gated parking, central air conditioning, and private balconies.
Where is this apartment building located?
The property is located at 660 85th St Miami Beach, FL.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: 12 apartments across four stories in an Art Deco‑style building; 13,400 square feet; built in 1989; Covered gated parking, elevator service, and central air conditioning
