701 82 St Miami Beach, FL 33141
- Commercial real estate
- 3,725 SF
Current Use by Public Records
- Commercial real estate
Property Details for 701 82 St
- Year built
- 1947
- Property size
- 3,725 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a fully occupied, four-unit apartment building located at 701 82nd Street in the desirable Biscayne Point subdivision of Miami Beach, Florida. The property, built in 1947, boasts a total of 3,725 square feet situated on a 5,650 square foot lot. The building is a two-story concrete block structure with central air conditioning and on-site private parking. Each of the four units offers spacious two-bedroom layouts, contributing to the property's strong occupancy rate of 100%. The current Net Operating Income (NOI) stands at $74,380, representing a price per square foot of $429.53. The asking price for this value-add, core investment is $1,600,000. The property is zoned RM-1, offering potential for future development or renovation. This is a rare opportunity to acquire a well-maintained multifamily property in a prime Miami Beach location with significant upside potential. The strong cash flow and high occupancy make this an attractive investment for both seasoned and new investors seeking a stable and profitable asset in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami Beach
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.1264394
- Latitude
- 25.8676724
