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660 85th Street, Miami Beach, FL 33141

$3,700,000

Property Type: Commercial Sale Square Footage: 13,400 Status: Active

Current Price: $3,700,000 List Date: 4/15/2026 Last Modified: 8/26/2026

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, ... (Read more)

Listing Details MLS# A12001732

General Property Information

Property Sub Type: Hotel/Motel
Occupant Type: Tenant
Building Area Main: 13400
Year Built: 1989
Lot Size Area: 6150
Lot Size Acres: 0.14

Contract Information

Comp Sale YN: No
Original List Price: 3700000

Location and Legal

Country: United States
County Or Parish: Miami-Dade
County Parish Name: Miami-Dade
Street Number: 660
Street Name: 85th
Street Suffix: Street
City Name: Miami Beach
State Or Province: FL
Postal Code: 33141
Postal Code +4: 1169
Area: 2320
Parcel Number: 0232020081890
Subdivision Number: 8
Zoning: 3900
Flood Zone: AE

Financial Information

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

Status Change Information

Major Change Timestamp: 2026-04-15T04:00:00Z
Major Change Type: New Listing
Status Change Date: 2026-04-15

Price Calculations

Current Price To SqFt: 276.11

More Information

Section Details

Parcel Number MLX: 1890

Originating Details

Originating System Key: 455086578
Originating System ID: M00000151

Listing Office: Beachfront Realty Inc

Last Updated: August - 26 - 2026

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660 85th Street, Miami Beach, FL 33141 (MLS# A12001732)