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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    600 79Th Street Cswy Miami Beach, FL 33141

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1580903
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 600 79Th Street Cswy

    Year built
    1950
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a 6-unit multifamily property located at 600 79th Street in Miami Beach, Florida, 33141. Built in 1950, this garden-style building offers a total of 3,853 square feet and boasts a prime North Beach location, just four blocks from the ocean. The property comprises a mix of unit sizes: three studios, two one-bedroom units, and one two-bedroom, one-bathroom unit. Currently, approximately 50% of the units are rented below market value, presenting a significant opportunity to increase rental income through strategic rent adjustments. The asking price is $1,425,000. While the building requires some renovations and improvements, its location in a highly desirable Miami Beach neighborhood offers substantial potential for value appreciation and strong rental returns. This property is ideal for investors seeking a hands-on project with significant upside potential in a thriving market. The property's existing structure provides a solid foundation for a renovation project, allowing for the creation of a high-yield investment property. This is a rare chance to acquire a multifamily property in a coveted Miami Beach location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1249763
    Latitude
    25.8638689

    Comparable in this City

    • $21,000,000
      19,778 SF

      Route 33 Retail Center Opportunity

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    • $1,750,000
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      Miami Beach Multifamily Investment

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      Miami Beach Duplex Investment

      Prime location, renovated, 2 units
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      Luxury Miami Beach Townhomes

      10 Units, Waterfront, Newly Renovated
      1975 Calais Dr, Miami Beach, FL 33141
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    • $1,399,950
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      Miami Beach Waterfront Fourplex

      Leased waterfront fourplex in Miami Beach with redevelopment potential.
      7885 Crespi Blvd, Miami Beach, FL 33141
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    • $4,350,000

      Miami Beach Multifamily Investment

      Multifamily property with renovated units near the beach.
      800 85Th St, Miami, FL 33141
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    Similar Nearby for Sale

    • $21,000,000
      19,778 SF

      Route 33 Retail Center Opportunity

      Prime Retail Land, High Traffic Area
      6300 Collins Ave, Miami Beach, FL 33141
      View Details
    • $1,750,000
      3,707 SF

      Miami Beach Multifamily Investment

      Four-unit renovated apartment building, high ROI.
      7320 Carlyle Ave, Miami Beach, FL 33141
      View Details
    • $2,590,000

      Miami Beach Duplex Investment

      Prime location, renovated, 2 units
      8109 Harding Ave, Miami Beach, FL 33141
      View Details
    • $17,700,000
      32,532 SF

      Luxury Miami Beach Townhomes

      10 Units, Waterfront, Newly Renovated
      1975 Calais Dr, Miami Beach, FL 33141
      View Details
    • $1,399,950
      Pending

      Miami Beach Waterfront Fourplex

      Leased waterfront fourplex in Miami Beach with redevelopment potential.
      7885 Crespi Blvd, Miami Beach, FL 33141
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    • $4,350,000

      Miami Beach Multifamily Investment

      Multifamily property with renovated units near the beach.
      800 85Th St, Miami, FL 33141
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    Similar Nearby for Lease

    • $1,600 /Mo

      Miami Beach Apartment For Rent

      One bedroom, one bathroom apartment in a quiet neighborhood.
      8321 Crespi Blvd, Miami Beach, FL 33141
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    • $1,600 /Mo

      Updated Studio Near Miami Beach

      Spacious, updated studio apartment one block from the ocean.
      7611 Harding Ave, Miami Beach, FL 33141
      View Details
    • $1,600 /Mo

      Furnished Studio Near Miami Beach

      Furnished 370 sq ft studio, steps from the beach.
      6498 Collins Ave, Miami Beach, FL 33141
      View Details
    • $2,100 /Mo

      North Miami Beach Apartment

      Two-bedroom, one-bathroom apartment near the beach.
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      Normandy Isle Apartment For Rent

      One bedroom plus den apartment in desirable Miami Beach location.
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    • $2,000 /Mo

      Renovated Apartment with Modern Amenities

      Spacious, renovated 1-bedroom apartment with in-unit laundry and modern finishes.
      1935 Marseille Dr, Miami Beach, FL 33141
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    Request Owner's contact information
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    600 79Th Street Cswy
    Miami Beach, FL 33141
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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