1316 105 St, Miami Shores, FL 33138

Property Details for 1316 105 St

Property type

Commercial real estate

APN

11-2232-027-0150

Description

This exceptional 8-unit apartment building in Miami Shores, Florida, presents a compelling investment opportunity. Boasting 9,740 square feet on a 13,750 square foot lot (APN: 11-2232-027-0150), this two-story Class B property offers a current NOI of $162,086 and a pro-forma NOI of $209,709, translating to a 5.15% cap rate and a pro-forma cap rate of 6.66%. The asking price is $3,150,000, resulting in a price per square foot of $323.41. Each of the eight units features modern amenities including stainless steel appliances, granite countertops, full kitchens, and a mix of travertine and hardwood flooring. The property benefits from ample parking and a recently redesigned landscape for low maintenance. Safety features include hurricane shutters and impact-resistant doors. Situated in a desirable A-1 zoned location just off Biscayne Boulevard, this renovated building underwent its 60-year recertification in 2023, ensuring long-term compliance. This waterfront property offers consistent rental income and significant potential for future growth in a prestigious Miami Shores neighborhood. The property's prime location and updated features make it an attractive investment for discerning buyers seeking a stable and high-return asset.

Location Insight

City

Miami Shores

County

Miami-Dade

State

Florida

Longitude

-80.1705709

Latitude

25.8717915