Miami Beach Multifamily Investment
For Sale
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8321 Crespi Blvd, Miami Beach, FL 33141
Eight-unit multifamily building in Miami Beach with waterway views.
Property Size5,730 SF
Price / SF$340.31
Days on Market1161
Property Features for 8321 Crespi Blvd
General Information
Standard status
Active
Size
5,730 SF
Property subtype
Multifamily
Building Details
Year Built
1951
Stories
2
Units
8
Listing Agency:
Coppola Intl Realty
Listed By:
Andrea Andrada · License #3251203
(786) 768-8824
Source:
Crexi
Added: Sep 2, 2023
Changed: Nov 4
Last Checked: Nov 4 at 10:34AM
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 Coppola Intl Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily apartment building presents an investment opportunity with eight units, each featuring one bedroom and one full bathroom. The property is located in the Biscayne Point area near the North Beach neighborhood of Miami Beach, offering views of the Tatum Waterway and access to the Miami lifestyle. It is situated close to the beach, Bal Harbour, and downtown Miami Beach, with accessibility to Collins Avenue and Broad Causeway for connections to US-1 and I-95. The building has a total size of 5730 square feet and has recently completed its 40-year certification.
Key Highlights
- Eight‑unit multifamily apartment building - excellent investment opportunity.
- Recently completed 40‑year certification.
- Located in Biscayne Point near North Beach, Miami Beach.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,124
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,762,480
$1.8M
Cap Rate 7%
$1,258,914
$1.3M
Cap Rate 9%
$979,156
$979.2K
Market Conditions
NOI Build-Up for 5,730 SF
Gross rent
$167.8K $29.28/SF
− Vacancy
−$7.5K −$1.32/SF
EGI
$160.2K $27.96/SF
− OpEx
−$72.1K −$12.58/SF
NOI
$88.1K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,762,480
Cap Rate 7%
$1,258,914
Cap Rate 9%
$979,156
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,124 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.91M
$2.54M – $3.39M
NOI $203,495 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
776
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
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily building in Miami Beach with waterway views.
Where is this apartment building located?
The property is located at 8321 Crespi Blvd Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Eight‑unit multifamily apartment building - **excellent investment opportunity**.; Recently completed 40‑year certification.; Located in Biscayne Point near North Beach, Miami Beach.
