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    Miami Beach Short-Term Rental Opportunity Title is generated by Realmo AI

    1355 Drexel Ave, Miami Beach, FL 33139

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    Claim this Listing
    For Sale
    $7,000,000

    Fourplex, Quadruplex - Miami Beach, FL

    Type:Quadruplex
    Property size:
    816 SF
    Price / SF:
    $8,578/SF
    Added:
    May 12, 2026
    Days on Market:
    23
    Last Refresh:
    Jun 3 at 3:06 pm

    Property Features for 1355 Drexel Ave

    General Information

    Property type
    Residential
    Property subtype
    Quadruplex
    Zoning
    6400
    Parking
    2
    Standard status
    Active
    APN
    02-32-34-183-0120
    Size
    816 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    111703

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    2009
    Flooring type
    Concrete
    Building materials
    Block
    Roof type
    Flat, Tile
    Architectural style
    Other

    We can help!

    Listing Contact
    Arthur Porosoff
    Arthur Porosoff

    Listing agent Arthur Porosoff License #3160379

    Listing office Compass Florida, LLC 1212 Lincoln Rd, Miami, FL

    Listing date May 12, 2026

    MLS# A11929268 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Miami Beach location, steps from Ocean Drive, Collins Avenue, and Lincoln Road.
    • Legal short‑term rental zoning, a rare and valuable asset in Miami Beach.
    • Turnkey operation with a proven track record of steady occupancy and above‑market ADRs.
    • Each unit features a full kitchen, in‑unit or onsite laundry, Wi‑Fi/cable, and modern interior finishes.
    • Optimized for both remote and on‑site management.
    • Resilient, high‑yield cash‑flow asset backed by strong underlying real estate fundamentals.

    Overview

    This property is an 18-unit short-term rental opportunity located in Miami Beach, Florida, near Ocean Drive, Collins Avenue, and Lincoln Road. The location provides access to dining, entertainment, and beachfront attractions. The property has legal short-term rental zoning and a proven operational track record. Each unit includes a full kitchen, in-unit or onsite laundry, Wi-Fi/cable, and modern interior finishes. The building has been maintained and optimized for both remote and on-site management, supporting year-round occupancy. The property is an investment opportunity with cash-flow backed by real estate fundamentals. The property size is 816 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Real Estate Agency Nail Salon Food Market Daycare Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.132688
    Latitude
    25.785201

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    FAQs

    What type of property is this?
    Short term rental property - Turnkey 18-unit short-term rental near Ocean Drive.
    Where is this short term rental property located?
    The property is located at 1355 Drexel Ave Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $7,000,000.
    What are key features of this property?
    This property features: Prime Miami Beach location, steps from Ocean Drive, Collins Avenue, and Lincoln Road.; Legal short‑term rental zoning, a rare and valuable asset in Miami Beach.; Turnkey operation with a proven track record of steady occupancy and above‑market ADRs.
    (305) 209-8866
    We can help!
    Listing Contact
    Arthur Porosoff
    Arthur Porosoff
    Real Estate License ID: 3160379
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    1355 Drexel Ave, Miami Beach, FL 33139
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