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    1040 94Th St Bay Harbor Islands, FL 33154

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    For Sale
    $3,799,999

    Income-producing multifamily property with redevelopment potential in Bay Harbor Islands.

    Building Details

    Year built
    1956

    Source: Citadel Realty Agent Richard Sragowicz

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

    Overview

    Bay Harbor Islands Development Opportunity

    Located in the heart of Bay Harbor Islands on 94th Street, this property presents an exceptional development opportunity. The site is an 11,250 sq ft lot zoned RM-2, offering approximately 23,000 buildable square feet. This allows for the construction of up to 14 luxury condominium or townhouse residences. The existing structure is a fully operational 4-unit multifamily property that generates income. The property contains 8 bedrooms and dens, and 8 bathrooms. The property is located steps from a top-rated K8 school, world-class shopping, dining, and beaches.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Bay Harbor Islands
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.129978
    Latitude
    25.884502

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    FAQs

    What type of property is this?
    Quadplex - Income-producing multifamily property with redevelopment potential in Bay Harbor Islands.
    Where is this quadplex located?
    The property is located at 1040 94Th St Bay Harbor Islands, FL.
    What is the asking price?
    The asking price for this property is $3,799,999.
    What are key features of this property?
    This property features: - Prime redevelopment opportunity with approximately 23,000 buildable square feet.; - Income-producing 4-unit multifamily property.; - Zoned RM-2, allowing for up to 14 luxury condominium or townhouse residences.
    (305) 333-0183
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    1040 94Th St Bay Harbor Islands, FL 33154
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    Realmo Value Estimation

    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.

    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.

    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
    1040 94Th St Bay Harbor Islands, FL 33154
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