20-Unit Apartment
For Sale
$4,700,000
7717 Byron Ave, Miami Beach, FL 33141
Commercial Sale, Miami Beach, FL
Property Size10,809 SF
Lot Size0.26 Acres
Price / SF$434.82
Days on Market68
Property Features for 7717 Byron Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
3900
Subdivision
32
Standard status
Active
APN
02-32-02-007-1010
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
ALTOS DEL MAR NO 3 PB 8-41 LOT 4 BLK 15 LOT SIZE 50.000 X 113 OR 19445-2190 01 2001 2 (2)
Legal Description
ALTOS DEL MAR NO 3 PB 8-41 LOT 4 BLK 15 LOT SIZE 50.000 X 113 OR 19445-2190 01 2001 2 (2)
Building Details
Year built
1958
Number of units
20
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Marilina Apfelbaum · License #0662372
(786) 287-3633
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 5 at 10:06AM
MLS# A12043504
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.
Investment Insights
Based on property information with market context.
This 20-unit apartment property includes 10,809 square feet of building area on an 11,300-square-foot lot. Built in 1958, the asset provides an established multifamily configuration with existing income in place. Its scale and urban setting support a range of ownership and operating considerations for apartment investors.
The property is located at 7717 Byron Ave in Miami Beach’s North Beach area, near Collins Avenue, the beach, restaurants, and shops. The surrounding area is also identified with ongoing neighborhood growth, placing the building within an active Miami Beach submarket.
The property is located at 7717 Byron Ave in Miami Beach’s North Beach area, near Collins Avenue, the beach, restaurants, and shops. The surrounding area is also identified with ongoing neighborhood growth, placing the building within an active Miami Beach submarket.
Key Highlights
- 20‑unit apartment property
- 10,809 SF of building area
- 11,300‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$166,235
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,324,700
$3.3M
Cap Rate 7%
$2,374,786
$2.4M
Cap Rate 9%
$1,847,056
$1.8M
Market Conditions
NOI Build-Up for 10,809 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$316.5K $29.28/SF
− Vacancy
−$14.2K −$1.32/SF
EGI
$302.2K $27.96/SF
− OpEx
−$136.0K −$12.58/SF
NOI
$166.2K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,324,700
Cap Rate 7%
$2,374,786
Cap Rate 9%
$1,847,056
Alternative Uses
Best Use
Apartment 5plus
$2.37M
$2.08M – $2.77M
NOI $166,235 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.48M
$4.80M – $6.40M
NOI $383,870 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
2,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with existing income near Collins Avenue, beaches, dining, and neighborhood retail.
Where is this apartment building located?
The property is located at 7717 Byron Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: 20‑unit apartment property; 10,809 SF of building area; 11,300‑square‑foot lot
