Waterfront Multifamily Buildings in
7805 & 7815 Crespi Blvd Miami Beach, FL 33141
7805 & 7815 Crespi Blvd, Miami Beach, FL, 33141
$4,749,000
For Sale
$4,749,000
Two buildings with 12 units on Tatum Waterway.
Property Size10,728 SF
Price / SF$442.67
Days on Market726
Property Features for 7805 & 7815 Crespi Blvd
General Information
- Standard status
- Active
- Size
- 10,728 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1956
Listing Agency
The Keyes Company
(305) 984-3180
Listed by
Maria Carrillo · License #0521069
(305) 984-3180
Source
Exitrealty
Added: Jul 23, 2024 Checked: Jul 17 at 4:04 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Keyes Company
Investment Insights
Based on property information with market context.
Two waterfront buildings are situated on Tatum Waterway in Biscayne Point, Miami Beach, across from Crespi Park. The property comprises a total of 12 units. The building at 7805 Crespi Blvd features two studios, two 2-bedroom/1-bath units, and two 3-bedroom/2-bath units. The building at 7815 Crespi Blvd includes one 1-bedroom/1-bath unit, one 1-bedroom plus den/1-bath unit, three 2-bedroom/2-bath units, and one 2-bedroom plus den/2-bath unit. The buildings have newer roofs. The property is in close proximity to the beach and Bal Harbour, with nearby restaurants, plazas, and shopping options. The property size is 10728 square feet.
Key Highlights
- Waterfront property on Tatum Waterway
- Two buildings with a total of 12 units
- Diverse unit mix including studios, 1, 2, and 3‑bedroom options
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $314.1k | $29.28 |
| − Vacancy | −$14.1k | −$1.32 |
| EGI | $300.0k | $27.96 |
| − OpEx | −$135.0k | −$12.58 |
| NOI | $165.0k | $15.38 |
10,728 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.36M
$2.06M – $2.75M
NOI $164,989 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.44M
$4.76M – $6.35M
NOI $380,994 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Two buildings with 12 units on Tatum Waterway.
Where is this apartment building located?
The property is located at 7805 & 7815 Crespi Blvd Miami Beach, FL.
What is the asking price?
The asking price for this property is $4,749,000.
What are key features of this property?
This property features: Waterfront property on Tatum Waterway; Two buildings with a total of 12 units; Diverse unit mix including studios, 1, 2, and 3‑bedroom options
