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    Premier Development Assemblage on Biscayne Title is generated by Realmo AI

    8699 Biscayne Blvd, Miami, FL 33138

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    Five-parcel assemblage with high visibility and mixed-use potential.

    Type:Land
    Added:
    Mar 24, 2026
    Days on Market:
    70
    Last Refresh:
    Mar 25 at 8:45 pm

    Property Features for 8699 Biscayne Blvd

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Joseph Kang

    Listing agent Joseph Kang License #SL3639814

    Listing office Marcus & Millichap - Miami

    Listing date Mar 24, 2026

    Source Crexi

    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 Marcus & Millichap - Miami

    HighLights

    • Premier development assemblage on a hard corner at the gateway to Miami.
    • High visibility with approximately 150 linear feet of frontage on Biscayne Boulevard.
    • Massive daily traffic count of 45,000 to 55,000 vehicles.
    • Zoning allows for a mixed‑use development with up to 76 residential units.
    • Buildable square footage of up to 68,200 across eight floors on T6‑8 zoned parcels.
    • Located in the heart of Miami's Upper East Side, near established residential neighborhoods and rapidly developing urban districts.

    Overview

    This five-parcel development assemblage, located on a hard corner at the gateway to the City of Miami, offers excellent visibility. The site features approximately 150 linear feet of frontage on Biscayne Boulevard, a major north-south artery, with a daily traffic count of 45,000 to 55,000 vehicles. The two parcels along Biscayne are zoned T6-8, allowing for a floor lot ratio of 5.0 and up to 68,200 buildable square feet across eight floors, suitable for ground-floor retail and 47 residential units. The three eastern parcels are zoned T5-O, supporting an additional 29 units over five floors, bringing the combined capacity to 76 units. This site presents an opportunity for a mixed-use presence at the intersection of the Miami Shores corridor. Situated in the heart of Miami’s Upper East Side, the area is surrounded by neighborhoods known for tree-lined streets and waterfront residential character. To the south are urban districts with retail, luxury development, and high-density residential growth. This location serves as a transitional corridor along Biscayne Boulevard, blending quiet residential areas with vibrant, mixed-use urban neighborhoods.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apex Heating & Cooling Hardware & Home Improvement

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.184651
    Latitude
    25.855471

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    FAQs

    What type of property is this?
    Commercial land - Five-parcel assemblage with high visibility and mixed-use potential.
    Where is this commercial land located?
    The property is located at 8699 Biscayne Blvd Miami, FL.
    What is the asking price?
    The asking price for this property is $5,750,000.
    What are key features of this property?
    This property features: Premier development assemblage on a hard corner at the gateway to Miami.; High visibility with approximately 150 linear feet of frontage on Biscayne Boulevard.; Massive daily traffic count of 45,000 to 55,000 vehicles.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joseph Kang
    Real Estate License ID: SL3639814
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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