8-Unit Bulk Condo
8897 Fontainebleau Boulevard Unit 302 Miami, FL 33172
8897 Fontainebleau Boulevard Unit 302, Miami, FL, 33172
$2,380,000
For Sale
$2,380,000
Bulk sale of eight condo units with long-term, annually leased tenants across multiple condominium communities.
Property Size8,056 SF
Price / SF$295.43
Days on Market808
Property Features for 8897 Fontainebleau Boulevard Unit 302
General Information
- Standard status
- Active
- Size
- 8,056 SF
- Property subtype
- Commercial/Industrial / Income/Multi Family
Building Details
- Year Built
- 1974
Listing agency
Homes Real Estate Group Inc.
(305) 392-1375
Listed by
Ines Carreno · License #3178103
(305) 392-1375
Source
Compass
Added: May 6, 2024 Updated: Jul 22 at 8:57AM Checked: Jul 22 at 8:57AM
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 Homes Real Estate Group Inc.
Investment Insights
Based on property information with market context.
For sale: an 8-unit bulk condo portfolio featuring five 2-bedroom, two-bath units, one 2-bedroom, 1.5-bath unit, and two 3-bedroom, 2-bath units. The units are part of multiple condominiums in Fontainebleau and The Hammocks, including Pineside, Golfview Club, Bleau Grotto, Pinebark, and Bayan Tree. All units are rented to long-term tenants on annual leases and are maintained.
Additional related inventory is referenced as six more 2-bedroom units located in Miramar and The Hammocks.
The offering address is 8897 Fontainebleau Boulevard, Unit 302, Miami, FL 33172. The stated sale price is $2,380,000, with an NOI of $149,697 per year and a gross rental roll of $212,400 per year, reflecting an indicated ROI of 8.9% monthly.
Additional related inventory is referenced as six more 2-bedroom units located in Miramar and The Hammocks.
The offering address is 8897 Fontainebleau Boulevard, Unit 302, Miami, FL 33172. The stated sale price is $2,380,000, with an NOI of $149,697 per year and a gross rental roll of $212,400 per year, reflecting an indicated ROI of 8.9% monthly.
Key Highlights
- 8‑unit bulk condo portfolio built in 1974, located across multiple condominium communities
- Unit mix: five 2/2, one 2/1.5, and two 3/2 condos
- All units are rented to long‑term tenants on annual leases
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $290.0k | $36.00 |
| − Vacancy | −$19.4k | −$2.41 |
| EGI | $270.6k | $33.59 |
| − OpEx | −$121.8k | −$15.11 |
| NOI | $148.8k | $18.47 |
8,056 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.13M
$1.86M – $2.48M
NOI $148,822 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.44M
$4.76M – $6.34M
NOI $380,650 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Bulk sale of eight condo units with long-term, annually leased tenants across multiple condominium communities.
Where is this apartment building located?
The property is located at 8897 Fontainebleau Boulevard Unit 302 Miami, FL.
What is the asking price?
The asking price for this property is $2,380,000.
What are key features of this property?
This property features: 8‑unit bulk condo portfolio built in 1974, located across multiple condominium communities; Unit mix: five 2/2, one 2/1.5, and two 3/2 condos; All units are rented to long‑term tenants on annual leases
