660 85th St ,Hotel, Apartments for Sale & Rent

660 85th St for Sale & Rent

Price $3,700,000.00

• Lot size 13400
• Year Build 1989
• Waterfront
• Zip 33141
• Style
• Parking Description
• Pool Yes
• Status Active

Description

660 85th Street presents a rare opportunity to acquire a 12-unit boutique multifamily asset in the highly desirable Biscayne Point / North Beach submarket of Miami Beach. This four-story Art Deco-style building offers covered gated parking, elevator service, central AC, and private balconies—premium amenities rarely found in comparable North Beach boutique assets. Currently 83% occupied, the property includes two vacant units that provide immediate lease-up upside at market rents. Existing in-place rents remain approximately 30–40% below market, allowing a new owner to drive strong organic NOI growth through natural lease rollover without major capital improvements. Current gross income is approximately $242,700 annually, with stabilized upside projected near $288,300 and estimated NOI around $167,174. Located just blocks from the Atlantic Ocean, North Beach Oceanside Park, Ocean Terrace redevelopment, Bal Harbour Shops, and major retail amenities, the asset benefits from one of Miami Beach’s most supply-constrained rental micro-markets. Also available as part of a multi-property acquisition with 709 83rd Street, this offering provides added scale and portfolio synergies for investors seeking expanded North Beach exposure. Seller financing available.

BISCAYNE BEACH SUB PB 44-67 LOT 15 BLK 8 LOT SIZE 6150 SQ FT OR 13802-2057 0688 1

660 85th Street presents a rare opportunity to acquire a 12-unit boutique multifamily asset in the highly desirable Biscayne Point / North Beach submarket of Miami Beach. This four-story Art Deco-style building offers covered gated parking, elevator service, central AC, and private balconies—premium amenities rarely found in comparable North Beach boutique assets. Currently 83% occupied, the property includes two vacant units that provide immediate lease-up upside at market rents. Existing in-place rents remain approximately 30–40% below market, allowing a new owner to drive strong organic NOI growth through natural lease rollover without major capital improvements. Current gross income is approximately $242,700 annually, with stabilized upside projected near $288,300 and estimated NOI around $167,174. Located just blocks from the Atlantic Ocean, North Beach Oceanside Park, Ocean Terrace redevelopment, Bal Harbour Shops, and major retail amenities, the asset benefits from one of Miami Beach’s most supply-constrained rental micro-markets. Also available as part of a multi-property acquisition with 709 83rd Street, this offering provides added scale and portfolio synergies for investors seeking expanded North Beach exposure. Seller financing available.

City:Miami Beach,Zoning:3900,List A O R:A-Miami Association of REALTORS,Latitude:25.8695423,List Price:3700000,Listing Id:A12001732,Longitude:-80.1263453,Mls Status:Active,Year Built:1989,Postal Code:33141,Street Name:85th St,Coordinates:1:25.8695423,Photos Count:2,Lot Size Units:Square Feet,M I A M I R E_ Area:32,On Market Date:2026-04-15,Parcel Number:02-32-02-008-1890,Property Type:Commercial Sale,Street Number:660,Public Remarks:660 85th Street presents a rare opportunity to acquire a 12-unit boutique multifamily asset in the highly desirable Biscayne Point / North Beach submarket of Miami Beach. This four-story Art Deco-style building offers covered gated parking, elevator service, central AC, and private balconies—premium amenities rarely found in comparable North Beach boutique assets. Currently 83% occupied, the property includes two vacant units that provide immediate lease-up upside at market rents. Existing in-place rents remain approximately 30–40% below market, allowing a new owner to drive strong organic NOI growth through natural lease rollover without major capital improvements. Current gross income is approximately $242,700 annually, with stabilized upside projected near $288,300 and estimated NOI around $167,174. Located just blocks from the Atlantic Ocean, North Beach Oceanside Park, Ocean Terrace redevelopment, Bal Harbour Shops, and major retail amenities, the asset benefits from one of Miami Beach’s most supply-constrained rental micro-markets. Also available as part of a multi-property acquisition with 709 83rd Street, this offering provides added scale and portfolio synergies for investors seeking expanded North Beach exposure. Seller financing available.,County Or Parish:Miami-Dade County,Expiration Date:2027-04-15,List Office Name:Beachfront Realty Inc,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:1169,Property Sub Type:Hotel/Motel,State Or Province:FL,Unparsed Address:660 85th St, Miami Beach FL 33141,Listing Agreement:Exclusive Right To Sell,Building Area Total:13400,Building Area Units:Square Feet,Leasable Area Units:Square Feet,Lot Size Square Feet:6150,M I A M I R E_ Flood Zone:AE,Original List Price:3700000,Public Survey Range:32,I D X Participation Y N:1,M I A M I R E_ N A R Rules Y N:1,Syndication Remarks:660 85th Street presents a rare opportunity to acquire a 12-unit boutique multifamily asset in the highly desirable Biscayne Point / North Beach submarket of Miami Beach. This four-story Art Deco-style building offers covered gated parking, elevator service, central AC, and private balconies—premium amenities rarely found in comparable North Beach boutique assets. Currently 83% occupied, the property includes two vacant units that provide immediate lease-up upside at market rents. Existing in-place rents remain approximately 30–40% below market, allowing a new owner to drive strong organic NOI growth through natural lease rollover without major capital improvements. Current gross income is approximately $242,700 annually, with stabilized upside projected near $288,300 and estimated NOI around $167,174. Located just blocks from the Atlantic Ocean, North Beach Oceanside Park, Ocean Terrace redevelopment, Bal Harbour Shops, and major retail amenities, the asset benefits from one of Miami Beach’s most supply-constrained rental micro-markets. Also available as part of a multi-property acquisition with 709 83rd Street, this offering provides added scale and portfolio synergies for investors seeking expanded North Beach exposure. Seller financing available.,Listing Contract Date:2026-04-15,Originating System I D:miamire,Street Number Numeric:660,Tax Legal Description:BISCAYNE BEACH SUB PB 44-67 LOT 15 BLK 8 LOT SIZE 6150 SQ FT OR 13802-2057 0688 1,M I A M I R E_ Current Price:3700000,Public Survey Township:32,M I A M I R E_ Total Mortgage:1000000,Originating System Name:Miami Association of REALTORS®,M I A M I R E_ Internet Remarks:12-unit North Beach asset sold with 709 83rd St in multi-property package; 2 vacancies, elevator, gated parking, 30–40% upside.,M I A M I R E_ Parcel Number M L X:1890,M I A M I R E_ Showing Time Flag:1,M I A M I R E_ Street View Param:1$25.869556$-80.126333$238.62$13.33$1.00$xRExchkLognZYy1pmGbkIQ,Contract Status Change Date:2026-04-15,Internet Address Display Y N:1,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:Yes - Attribution Required (Agent and Office),M I A M I R E_ Subdivision Number:8,M I A M I R E_ Agent Alternate Phone:786-287-3633,Internet Entire Listing Display Y N:1,M I A M I R E_ Address Internet Display:660 85th St,Internet Automated Valuation Display Y N:1,