Commercial Sale · Hotel/Motel
660 85th St, Miami Beach FL 33141, MIAMI BEACH, FL, 33141
Active119 days on marketListed Apr 15, 2026MLS #A12001732
About this property
The property at a glance
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.
13,400
Building sq ft
$276
Price / sq ft
6,150
Lot sq ft
1989
Year built
3900
Zoning
Hotel/Motel
Property type
The numbers
Investment snapshot
Income and lease details aren’t published in the MLS for this listing. Ask for the offering memorandum and rent roll to run cap rate, NOI and cash-on-cash.
Estimated payment (illustrative)
Estimated payment
$20,189/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Estimates only — taxes at 1.1%/yr and typical insurance; your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask Frantreshia to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
4,470
Population
$100,673
Median income
39
Median age
2
Avg household
$759,450
Median home value
$1,791/mo
Median rent
588
Households w/ kids
Consumer profile
Interested in the finer things life has to offer, this population wants to display their lifestyle by discussing luxury products. Often references jewelry, cars, and home features.
The party don't stop until the sun comes up. Loud music, crowds, and shots are a recipe for a great night out for these people.
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
Seeking peace and well-being through meditation, gratitude and spirituality.
This population is all about finding the latest in men's style - from fashion to grooming. Captures guys looking to stay on trend and significant others assisting with shopping.
This population is characterized by vulnerability. Looking to unload emotional burdens, activities include confessions, apologies, and long-form posts.
Recent sales
What actually sold near 660 85th St
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$875,000
6856 Abbott Ave, Miami Beach FL 33141
Sold Sep 19, 2025
$2,200
13499 Biscayne Blvd, North Miami FL 33181
Sold Jul 15, 2025
$1,860,000
7801 Byron Ave, Miami Beach FL 33141
Sold Apr 17, 2026
Your team
The pros in your corner
Your agent
Frantreshia Miller
REALTOR® · CENTURY 21 Edge
Tours, offers, and every question about 660 85th St — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 660 85th St.
See it in person
Schedule a tour
Live availability from Frantreshia's calendar — pick a time and it's booked.
Keep looking
Similar properties nearby
Listing courtesy of Beachfront Realty Inc · Marilina Apfelbaum. MLS #A12001732.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Miami Association of REALTORS®.
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