Art Deco Apartment Near
For Sale
$218,000
1525 Meridian Ave 104, Miami Beach, FL 33139
Apartment near Lincoln Road with wood floors and modern appliances.
Property Size450 SF
Days on Market281
Property Features for 1525 Meridian Ave 104
General Information
Standard status
Active
Size
450 SF
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$3,084
Building Details
Building Size
450 SF
Year Built
1939
Listed By:
Giovanni Tosi
(786) 693-3027
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 25
Last Checked: Sep 4 at 11:23AM
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 Giovanni Tosi
Investment Insights
Based on property information with market context.
This apartment is located one block from Lincoln Road. The unit features wood floors, a kitchen with appliances, a bathroom, and a bedroom. A washer, dryer, and dishwasher are located inside the unit. It is situated in an original art deco, gated building on Meridian Avenue. The property is currently rented until January 2026, making it suitable for investment.
Key Highlights
- Prime location: One block from Lincoln Road.
- Currently rented at a great price until January 2026, providing immediate investment income.
- Enjoy the convenience of a washer, dryer, and dishwasher inside the unit.
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
$6,921
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
3.17%
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%
$138,420
$138.4K
Cap Rate 7%
$98,871
$98.9K
Cap Rate 9%
$76,900
$76.9K
Market Conditions
NOI Build-Up for 450 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
$13.2K $29.28/SF
− Vacancy
−$593 −$1.32/SF
EGI
$12.6K $27.96/SF
− OpEx
−$5.7K −$12.58/SF
NOI
$6.9K $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%
$138,420
Cap Rate 7%
$98,871
Cap Rate 9%
$76,900
Alternative Uses
Best Use
Apartment 5plus
$98.9K
$86.5K – $115.4K
NOI $6,921 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$228.3K
$199.8K – $266.4K
NOI $15,981 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,703
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?
Apartment building - Apartment near Lincoln Road with wood floors and modern appliances.
Where is this apartment building located?
The property is located at 1525 Meridian Ave 104 Miami Beach, FL.
What is the asking price?
The asking price for this property is $218,000.
What are key features of this property?
This property features: Prime location: One block from Lincoln Road.; Currently rented at a great price until January 2026, providing immediate investment income.; Enjoy the convenience of a washer, dryer, and dishwasher inside the unit.
