Four-Story 9-Unit Apartment
709 83rd St, Miami Beach, FL 33141
For Sale
$2,800,000
Commercial Sale, Miami Beach, FL
Property Size11,880 SF
Lot Size0.27 Acres
Price / SF$235.69
Days on Market138
Property Features for 709 83rd St
General Information
Property type
Property subtype
Zoning description
Lot features
Subdivision
Standard status
APN
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Amenities
central A/C
Building Details
Year built
Number of units
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Marilina Apfelbaum · License FL #0662372
(786) 287-3633
Added: Jun 25
Changed: Oct 4
Last Checked: Nov 9 at 10:06PM
MLS# A12001730
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.
This 9-unit apartment building in Miami Beach offers four-story concrete construction, central A/C, and approximately 11,880 SF of building area. Completed in 1990 on a 5,650 SF lot, the property has all units fully occupied and is zoned 3900 for multifamily use of 2-9 units.
The property is situated in the Biscayne Beach area, with the beach, shopping, dining, and transit located minutes away. Its concrete block construction, existing occupancy, and central cooling provide a defined physical and operational profile for multifamily ownership.
The property is situated in the Biscayne Beach area, with the beach, shopping, dining, and transit located minutes away. Its concrete block construction, existing occupancy, and central cooling provide a defined physical and operational profile for multifamily ownership.
Key Highlights
- 9‑unit apartment building with all units fully occupied
- Approximately 11,880 SF on a 5,650 SF lot
- Four‑story concrete block construction completed in 1990
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$184,350
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,687,000
$3.7M
Cap Rate 7%
$2,633,571
$2.6M
Cap Rate 9%
$2,048,333
$2.0M
Market Conditions
NOI Build-Up for 11,880 SF
Gross rent
$359.3K $30.24/SF
− Vacancy
−$24.1K −$2.03/SF
EGI
$335.2K $28.21/SF
− OpEx
−$150.8K −$12.70/SF
NOI
$184.3K $15.52/SF
Area
Miami-Dade County, FL
Vacancy
6.70%
Lease Rate
$30.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,687,000
Cap Rate 7%
$2,633,571
Cap Rate 9%
$2,048,333
Alternative Uses
Best Use
Apartment 5plus
$2.63M
$2.30M – $3.07M
NOI $184,350 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.49M
$5.68M – $7.57M
NOI $454,116 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
9
Residential units
100%
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
$434,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Fully occupied multifamily asset with concrete construction and central A/C in Miami Beach.
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: 9‑unit apartment building with all units fully occupied; Approximately 11,880 SF on a 5,650 SF lot; Four‑story concrete block construction completed in 1990
