Four-Unit Quadplex with Pool
For Sale
$1,500,000
800 NE 85th St, Miami, FL 33138
Residential Income, Miami, FL
Property Size2,358 SF
Price / SF$636.13
Days on Market75
Property Features for 800 NE 85th St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
4600
Bedrooms
5
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 1
Parking
4
Exterior features
Barbecue, Fence, Lighting, Room For Pool
Fencing
Fenced
Subdivision
UpperEast sideBISC HEIGHTS
Lot features
< 1/4 Acre
Standard status
Active
APN
01-32-07-003-0890
Size
2,358 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
6-7-8 53 42 BISC HGTS PB 2-78 E60FT OF W120FT OF LOT 44 LESS N10FT FOR ST LOT SIZE 7200 SQUARE FEET 75R 266247 OR 19720-1750 06 2001 1 COC 2
Tax Annual Amount
13851
Legal Description
6-7-8 53 42 BISC HGTS PB 2-78 E60FT OF W120FT OF LOT 44 LESS N10FT FOR ST LOT SIZE 7200 SQUARE FEET 75R 266247 OR 19720-1750 06 2001 1 COC 2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1961
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Capital Realty · Keller Williams Realty
(305) 662-7325
Listed By:
Nancy Dowson · License #0566226
(305) 694-2166
Added: Jun 17
Changed: Aug 29
Last Checked: Aug 30 at 6:06AM
MLS# A11648020
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.
Investment Insights
Based on property information with market context.
Built in 1961, this 2,358-square-foot block quadplex contains four legal units arranged as one two-bedroom, one-bath residence and three one-bedroom, one-bath residences. Each unit includes living and dining areas, while walk-in closets and side access are among the unit features. Two residences are currently vacant. The property has ceramic tile flooring, central air, a shingle roof, fencing, lighting, and designated space at the south end for a swimming pool. Public water and public sewer serve the building, with cable availability also listed.
The property is at 800 NE 85th St in Miami’s Upper East Side, one block east of Biscayne Boulevard. Its stated zoning designation is 4600 Multi-family 5+ stories.
The property is at 800 NE 85th St in Miami’s Upper East Side, one block east of Biscayne Boulevard. Its stated zoning designation is 4600 Multi-family 5+ stories.
Key Highlights
- Four legal units: one 2‑bedroom/1‑bath unit and three 1‑bedroom/1‑bath units
- 2,358 square feet on a 0.00‑acre?
- Two units are currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,291
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$945,820
$945.8K
Cap Rate 7%
$675,586
$675.6K
Cap Rate 9%
$525,456
$525.5K
Market Conditions
NOI Build-Up for 2,358 SF
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.
Gross rent
$72.2K $30.60/SF
− Vacancy
−$4.6K −$1.95/SF
EGI
$67.6K $28.65/SF
− OpEx
−$20.3K −$8.60/SF
NOI
$47.3K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$945,820
Cap Rate 7%
$675,586
Cap Rate 9%
$525,456
Alternative Uses
Best Use
Multifamily LT 5
$675.6K
$591.1K – $788.2K
NOI $47,291 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$622.3K
$544.5K – $726.0K
NOI $43,560 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,417 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,625
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Legal residential income property with a flexible unit mix, fenced grounds, and room for a swimming pool.
Where is this quadplex located?
The property is located at 800 NE 85th St Miami, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four legal units: one 2‑bedroom/1‑bath unit and three 1‑bedroom/1‑bath units; 2,358 square feet on a 0.00‑acre?; Two units are currently vacant
