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    800 85Th St Miami, FL 33138

    For Sale
    $1,200,000

    Four-unit building, high growth potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional four-unit apartment building presents a compelling investment opportunity in Miami's desirable Upper East Side neighborhood. Located just one block east of Biscayne Boulevard, at 800 NE 85th Street, this 1961-built, single-story property offers significant upside potential. The building comprises four legal units: one two-bedroom, one-bathroom unit and three one-bedroom, one-bathroom units. Each unit features a living room, dining room, and walk-in closet. One of the two-bedroom units includes a convenient side entrance/exit. Currently, two units are vacant, providing the new owner flexibility to determine short-term or long-term rental strategies. The property's zoning (check Miami-Dade tax records for details – zoned 4600 Multi-family 5+ stories) allows for substantial future development, including the possibility of adding multiple stories. The asking price is $1,200,000. The existing building's value is enhanced by the potential for significant expansion. There's even room on the south end of the property for a swimming pool, adding further value and appeal. This is a rare chance to acquire a property with immediate income potential and substantial long-term growth prospects in a prime Miami location. The flexible floor plans and the potential for vertical expansion make this a truly unique investment opportunity.

    Property Features for 800 85Th St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1961
    Stories
    1
    Units
    4

    HighLights

    • Four‑unit apartment building in Miami's desirable Upper East Side.
    • Located one block east of Biscayne Boulevard at 800 NE 85th Street.
    • Features one 2BR/1BA and three 1BR/1BA units; all with living/dining rooms and walk‑in closets.
    • Two vacant units offer flexible rental strategies.
    • Zoned for multi‑family development (verify zoning details with Miami‑Dade tax records).
    • Asking price: $1,200,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare 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
    -80.1805265
    Latitude
    25.8535869

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit building, high growth potential.
    Where is this multifamily property located?
    The property is located at 800 85Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Four-unit apartment building in Miami's desirable Upper East Side.; Located one block east of Biscayne Boulevard at 800 NE 85th Street.; Features one 2BR/1BA and three 1BR/1BA units; all with living/dining rooms and walk-in closets.
    Request Owner's contact information
    800 85Th St Miami, FL 33138
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    Miami, FL 33138
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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
    800 85Th St Miami, FL 33138
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