800 Northeast 85th Street

Miami, FL 33138

Listing ID: 214615
$1,750,000
For Sale
  • Property Type Multifamily
  • Lot Size Acres 0.810
  • Building Sq Ft 2,334
  • Building Price per Sq Ft $749.79
  • Land Sq Ft 35,265
  • Land Price per Sq Ft $49.62
800 Northeast 85th Street - main image
800 Northeast 85th Street - alt image 2
Description

Fausto Commercial is pleased to present for sale The Miami Shorecrest Development opportunity, a multifamily and vacant land property located at 800 NE 85th Street, Miami FL 33138. The property consists of 4 units sitting on 7,200 Sq. Ft zoned T5-R and 28,065 Sq. Ft T3-R vacant lot, totaling 35,265 Sq. Ft. of land.

Under the current zoning, the property allows an owner developer to build 15 units (10 units multifamily and five single family homes with a retail price of approximately $600,000 each. The developer could partially increase the zoning on the vacant land allowing for an additional 20 units for a total of 30 units or more.

The rental market for new construction for studios/one-bedroom apartments are approximately $1,450, two bedrooms/one-bathroom units are generating $1,750, the two bedrooms/two-bathroom units are being rented at $1,850, and the three bedrooms/two bathroom apartments are being leased at approximately $2,500.

Listing Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population22,676240,274658,334
Population Median Age403839
Population by Age0-9 Yrs3005 (13%)29003 (12%)75389 (11%)
10-19 Yrs2072 (9%)27185 (11%)69370 (10%)
20-29 Yrs1937 (8%)33540 (13%)89771 (13%)
30-39 Yrs4053 (17%)39975 (16%)109978 (16%)
40-49 Yrs3663 (16%)34740 (14%)92305 (14%)
50-59 Yrs3498 (15%)32000 (13%)89764 (13%)
60-69 Yrs2273 (10%)23126 (9%)69239 (10%)
70+ Yrs2174 (9%)20705 (8%)62517 (9%)
Median HH Income$49,090$48,509$52,256
Total Household Income< 24K2900 (29%)24404 (27%)64337 (25%)
25-49K2120 (21%)21203 (23%)57867 (22%)
50-74K1503 (15%)14552 (16%)43482 (17%)
75-99K814 (8%)9633 (10%)26507 (10%)
100-199K1676 (16%)12402 (13%)38796 (15%)
200K+873 (8%)6848 (7%)22915 (9%)
Highest Education LevelNo Diploma20442664275848
Diploma or GED389241331117155
Some College32472829572306
Assoc. Degree16461754842089
Bachelors Degree36263452096273
Higher Degree24462155172620
Total Housing Units10,769105,409349,653
--Owner-Occupied4,23135,190102,707
--Renter-Occupied5,65453,854151,198
Owner-Occupied Values< 100K23425698016
100-199K375604918180
200-299K503705420396
300-399K429401212233
400-499K73134509380
500K+19601205634503
Total Working Age Population18,484195,385541,289
In Work Force13,104130,076351,833
Not In Work Force5,38065,309189,456
Workforce Employed12,284120,912329,925
Workforce Unemployed8209,15021,636
Civlian Workforce13,104130,063351,561
Military Workforce013272
Total Households9,88589,044253,905
Family Households5,27952,160141,825
Non-Family Households4,60636,883112,080
Married Couple3,29029,68287,883
Other Family1,98922,47853,942
Married w/Child1,08611,51331,391
Single Male w/Child1062,1505,718
Single Female w/Child1,1539,08120,069

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Florida15,982,378+1818,801,310+1421,517,610+1324,340,457
Miami-Dade County2,253,362+112,496,435+152,861,579+113,190,242
Monroe County79,589-873,090+174,004074,301

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

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