1 NE 78th St, Miami FL 33138

About this property

13-unit multifamily asset strategically located in the heart of Little River, one of Miami’s fastest-evolving urban neighborhoods. Positioned on a prominent corner lot with frontage along NE 78th Street, the property benefits from strong visibility, walkability, and quick connectivity to the Design District, Wynwood, and Downtown Miami, as well as major transit corridors. Built in 1971, the two-story building totals approximately 7,496 SF of living area on a 13,063 SF lot and is currently operating with stable in-place income. Offered at $2,600,000, the property generates an in- place NOI of approximately $191,000, equating to a 7.35% cap rate, with modest upside through rent growth and operational efficiencies. A key value driver is the T6-8-O zoning, which supports high-density mixed- use redevelopment of up to eight stories, positioning the asset for future redevelopment, assemblage, or land- banking as Little River continues its transformation.

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Location

North Bay VillageMiamiDowntown MiamiBay Harbor IslandsSurfsideOpen the street map

1 NE 78th St, Miami FL 33138Open in Google Maps

Placed from the listing’s coordinates in the MLS. The street map loads from OpenStreetMap when opened. Coastline © OpenStreetMap contributors.