Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7905 Crespi Blvd Miami Beach, FL 33141

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,199,950

    Waterfront triplex with redevelopment potential, 100% leased.

    Building Details

    Year built
    1947

    We can help!

    Listing Contact
    Leor Fidler
    Source: Elliman

    Listing Agent: Leor Fidler

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Waterfront Triplex in Biscayne Beach

    This waterfront triplex is located in the Biscayne Beach Subdivision. Constructed in 1947, the property features RM-1 zoning, offering redevelopment potential. The building has a living area of 1,946 square feet and is situated on a 5,750 square foot lot. The unit mix includes two 2-bedroom, 2-bath units and one studio. The property is currently 100% leased. The current monthly income is $6,550, with a pro forma of $7,300. The annual current income is $78,600, with a pro forma of $87,600. The location is near the beach, shopping, and the North Beach town center.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery 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
    -80.127006
    Latitude
    25.864398

    Nearby Similar for Sale

    • $550,000
      720 SF

      Carillon Miami Wellness Resort Suite

      One bedroom hotel suite with two balconies in Miami Beach.
      6801 Collins Ave, Miami Beach, FL 33141
      View Details
    • New
      $88,000

      Grocery Store Business Opportunity

      Grocery store business opportunity in a high-traffic Miami Beach location.
      North Bay Village, Miami Beach, FL 33141
      View Details
    • $1,595,000
      3,707 SF

      Miami Beach Fourplex Investment Opportunity

      Fourplex in prime Miami Beach location, close to the beach.
      7320 Carlyle Ave, Miami Beach, FL 33141
      View Details
    • $16,900,000

      Renovated Hotel in South Beach

      Fully renovated 25-suite hotel with cafe in Miami Beach.
      205 Collins Ave, Miami Beach, FL 33139
      View Details
    • $5,250,000

      Renovated Multifamily Near Flamingo Park

      Boutique, renovated 12-unit multifamily property in the heart of South Beach.
      960 Jefferson Ave, Miami Beach, FL 33139
      View Details
    • $7,770,000

      Miami Beach Luxury Apartments

      20-unit renovated apartment building, one block from the beach.
      8035 Abbott Ave, Miami Beach, FL 33141
      View Details
    • $2,500,000
      Pending

      Licensed Hotel/STR Multi-Family Building

      Rare, fully licensed hotel/short term rental in South Beach.
      1534 Euclid Ave, Miami Beach, FL 33139
      View Details
    • $2,500,000
      Pending

      Licensed Hotel/STR Multifamily Building

      Rare, licensed South Beach hotel/short-term rental multifamily property for sale.
      1534 Euclid Ave, Miami Beach, FL 33139
      View Details
    • $5,900,000

      Renovated Office Condo on Lincoln

      Boutique office building in the heart of South Florida.
      605 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • $2,650,000
      5,764 SF

      Miami Beach Fourplex Investment Opportunity

      Rare opportunity: Two contiguous lots with turnkey 4-plexes near the bay.
      1910 Biarritz Dr, Miami Beach, FL 33141
      View Details
    • $2,750,000

      Penthouse Office Condo with Views

      Top-floor Miami Beach office with water and golf course views.
      1680 Michigan Ave, Miami Beach, FL 33139
      View Details
    • $16,000,000
      0.30 Acres

      Miami Beach Development Opportunity

      Rare development opportunity in Miami Beach's coveted South of Fifth neighborhood.
      249 Collins Ave, Miami Beach, FL 33139
      View Details

    FAQs

    What type of property is this?
    Triplex - Waterfront triplex with redevelopment potential, 100% leased.
    Where is this triplex located?
    The property is located at 7905 Crespi Blvd Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $1,199,950.
    What are key features of this property?
    This property features: - Waterfront property in Biscayne Beach Subdivision; - Income-generating triplex: current monthly income $6,550; - RM-1 zoning with redevelopment potential
    (516) 580-2329
    Request Owner's contact information
    7905 Crespi Blvd Miami Beach, FL 33141
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7905 Crespi Blvd
    Miami Beach, FL 33141
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    7905 Crespi Blvd Miami Beach, FL 33141
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Leor Fidler
    Real Estate License ID: 3502040
    (516) 580-2329
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.