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    842 84 St Miami Beach, FL 33141

    Sponsored
    For Sale
    $2,200,000

    Prime location, high rental potential, development opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional Miami Beach multifamily property at 842 84th Street presents a unique investment opportunity. Built in 1954, the existing structure comprises eight rental units, currently generating income in the desirable Biscayne Point neighborhood. The strong rental demand in this area ensures a consistent return on investment for those seeking immediate income generation. However, the property's zoning allows for significant redevelopment potential. The site offers the possibility of demolishing the existing building and constructing a new five-story structure, creating ten spacious units with a total buildable area of 14,831 square feet. This presents a compelling opportunity for developers seeking to capitalize on Miami Beach's thriving real estate market. Located just minutes from the beach, this property benefits from its proximity to the vibrant amenities and attractions of this sought-after location. The asking price for this versatile property is $2,200,000, making it an attractive proposition for both seasoned investors and those seeking a high-growth investment in a prime Miami Beach location. The property is situated in Miami-Dade County, Florida, with a zip code of 33141.

    Property Features for 842 84 St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1954

    HighLights

    • Exceptional Miami Beach multifamily investment opportunity at 842 84th Street.
    • Eight‑unit multifamily property in desirable Biscayne Point, generating immediate income.
    • Zoned for redevelopment: potential to build a five‑story, ten‑unit building (14,831 sq ft).
    • Prime Miami Beach location, minutes from the beach.
    • Asking price: $2,200,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1284572
    Latitude
    25.8687155

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    FAQs

    What type of property is this?
    Multifamily property - Prime location, high rental potential, development opportunity.
    Where is this multifamily property located?
    The property is located at 842 84 St Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Exceptional Miami Beach multifamily investment opportunity at 842 84th Street.; Eight-unit multifamily property in desirable Biscayne Point, generating immediate income.; Zoned for redevelopment: potential to build a five-story, ten-unit building (14,831 sq ft).
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    Miami Beach, FL 33141
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    842 84 St Miami Beach, FL 33141
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