20-Unit Short-Term Rental
For Sale
$6,500,000
807 Alton Rd, Miami Beach, FL 33139
Residential Income, Miami Beach, FL
Property Size14,518 SF
Price / SF$447.72
Days on Market111
Property Features for 807 Alton Rd
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
6400
Parking
4
Subdivision
LENOX MANOR
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
02-42-03-014-0380
Size
14,518 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
3 54 42 LENOX MANOR RE-SUB PB 7-15 W109.89FT OF LOTS 6 & 7 BLK 122 LOT SIZE 15035 SQ FT M/L OR 21181-2993/22261-1925 0404 3
Tax Annual Amount
90422
Legal Description
3 54 42 LENOX MANOR RE-SUB PB 7-15 W109.89FT OF LOTS 6 & 7 BLK 122 LOT SIZE 15035 SQ FT M/L OR 21181-2993/22261-1925 0404 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
full kitchens or kitchenettes
Wi-Fi
on-site laundry
Building Details
Year built
1945
Floors in Building
2
Flooring type
Tile
Building materials
Block
Roof type
Concrete
Architectural style
Other
Listing Agency:
Compass Florida, LLC
(305) 851-2820
Listed By:
Arthur Porosoff · License #3160379
(305) 209-8866
Added: May 12
Changed: Aug 20
Last Checked: Aug 30 at 9:06PM
MLS# A11929338
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 short-term rental property contains 14,518 square feet and was built in 1945. The renovated units are fully furnished and include modern interiors, efficient layouts, full kitchens or kitchenettes, Wi-Fi, and on-site laundry. Building features include block construction, tile flooring, central heating, central air, and a concrete roof.
The property is located at 807 Alton Rd in Miami Beach, along Alton Road between 8th and 9th Street. Whole Foods, Publix, Flamingo Park, South of Fifth, and Miami Beach retail and dining destinations are identified nearby. The asset also includes cable availability and public sewer service.
The property is located at 807 Alton Rd in Miami Beach, along Alton Road between 8th and 9th Street. Whole Foods, Publix, Flamingo Park, South of Fifth, and Miami Beach retail and dining destinations are identified nearby. The asset also includes cable availability and public sewer service.
Key Highlights
- 20‑unit short‑term rental property with 14,518 square feet
- Renovated and fully furnished units
- Full kitchens or kitchenettes in the units
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
$223,277
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
3.44%
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%
$4,465,540
$4.5M
Cap Rate 7%
$3,189,671
$3.2M
Cap Rate 9%
$2,480,856
$2.5M
Market Conditions
NOI Build-Up for 14,518 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
$425.1K $29.28/SF
− Vacancy
−$19.1K −$1.32/SF
EGI
$406.0K $27.96/SF
− OpEx
−$182.7K −$12.58/SF
NOI
$223.3K $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%
$4,465,540
Cap Rate 7%
$3,189,671
Cap Rate 9%
$2,480,856
Alternative Uses
Best Use
Apartment 5plus
$3.19M
$2.79M – $3.72M
NOI $223,277 @ 7.0% cap · market cap 3.44%
Second Best
Hotel Hospitality
$1.87M
$1.64M – $2.18M
NOI $131,080 @ 7.0% cap · market cap 2.02%
Theoretical Best
Office A
$7.37M
$6.44M – $8.59M
NOI $515,592 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
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?
Short term rental property - Renovated furnished accommodations offer kitchens, Wi-Fi, and on-site laundry.
Where is this short term rental property located?
The property is located at 807 Alton Rd Miami Beach, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 20‑unit short‑term rental property with 14,518 square feet; Renovated and fully furnished units; Full kitchens or kitchenettes in the units
