660 85th St, Miami Beach FL 33141
Hotel/Motel in Miami Beach
$3,700,000
Listing courtesy of Beachfront Realty Inc; Marilina Apfelbaum. Information from the Southeast Florida Multiple Listing Service is deemed reliable but is not guaranteed accurate.
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Hotel/Motel, Commercial Sale
Details
Overview
Description
PLEASE SEE OM FOR MORE DETAILS!! 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.
This hotel/motel home located at 660 85th St, Miami Beach FL 33141 is currently for sale and has been available on Brickellsold for 76 days. This property is listed at $4M. It has N/A beds, N/A bathrooms, and is N/A square feet. It was built in 1989. 660 85th St, Miami Beach FL 33141 is in Miami Beach county Miami-Dade County.
Interior
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Property
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Construction
- Year Built: 1989
Community & HOA
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Financial
Metadata
Neighborhood Insights
School and crime data are from public sources and are informational only.
Nearby Schools
Within 5 miles
- Biscayne Beach Elementary • 0.0 mi • K-12
- Ruth K. Broad/Bay Harbor K-8 Center • 0.0 mi • K-12
- Treasure Island Elementary • 0.0 mi • K-12
- MAST @ FIU Biscayne Bay Campus • 0.0 mi • K-12
- Academy for Advanced Academics - North • 0.0 mi • K-12
- David Lawrence Jr. K-8 Center • 0.0 mi • K-12
Nearby Hospitals
Within 3 miles
No nearby hospitals found.
Crime Overview
Crime data unavailable for this area.