9-Unit Concrete Apartment
709 83rd St, Miami Beach, FL 33141
For Sale
New
$2,800,000
Four-story construction with central air conditioning and a fully occupied residential unit mix.
Property Size11,880 SF
Lot Size0.13 Acres
Price / SF$235.69
Days on Market2
Property Features for 709 83rd St
General Information
Standard status
Size
Lot size
Zoning
Occupancy
Additional Details
Asking Price
Public Transit
Multifamily Units
Tenant in Place
Amenities
central A/C
9
11880
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
(954) 953-5363
Listed By:
Jennifer Tejeda
Source:
Onemarketrealestate
Added: Nov 6
Last Checked: Nov 6 at 2:34PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9-unit apartment building in Miami Beach was built in 1990 and has four stories of concrete construction. The property contains approximately 11,880 square feet on a 5,650-square-foot lot, with central air conditioning and concrete block construction. All nine units are occupied, providing current rental income.
The building is at 709 83rd St in the Biscayne Beach area of Miami Beach. The source describes beach access, shopping, dining, and transit as minutes away.
The building is at 709 83rd St in the Biscayne Beach area of Miami Beach. The source describes beach access, shopping, dining, and transit as minutes away.
Key Highlights
- Nine residential units, all occupied
- Approximately 11,880 square feet on a 5,650‑square‑foot lot
- Built in 1990 with four stories of concrete construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$182,706
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,654,120
$3.7M
Cap Rate 7%
$2,610,086
$2.6M
Cap Rate 9%
$2,030,067
$2.0M
Market Conditions
NOI Build-Up for 11,880 SF
Gross rent
$347.8K $29.28/SF
− Vacancy
−$15.7K −$1.32/SF
EGI
$332.2K $27.96/SF
− OpEx
−$149.5K −$12.58/SF
NOI
$182.7K $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%
$3,654,120
Cap Rate 7%
$2,610,086
Cap Rate 9%
$2,030,067
Alternative Uses
Best Use
Apartment 5plus
$2.61M
$2.28M – $3.05M
NOI $182,706 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.03M
$5.27M – $7.03M
NOI $421,906 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
9
Residential units
100%
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-story construction with central air conditioning and a fully occupied residential unit mix.
Where is this apartment building located?
The property is located at 709 83rd St Miami Beach, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Nine residential units, all occupied; Approximately 11,880 square feet on a 5,650‑square‑foot lot; Built in 1990 with four stories of concrete construction
