Adjacent Quadplex
1784 Normandy Dr, Miami Beach, FL 33141
For Sale
$1,350,000
Residential Income, Miami Beach, FL
Property Size2,792 SF
Lot Size0.29 Acres
Price / SF$483.52
Days on Market91
Property Features for 1784 Normandy Dr
General Information
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Zoning description
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Full bathrooms
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Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
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Building Details
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Buildings
Listing Agency:
Beachfront Realty Inc
(305) 534-4242
Listed By:
Franck Aravya · License FL #3139678
(305) 989-9312
Added: Aug 12
Changed: Nov 10
Last Checked: Nov 10 at 7:06PM
MLS# A12068594
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.
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Investment Insights
Based on property information with market context.
This assemblage includes two adjacent four-unit multifamily buildings with eight existing rental units on approximately 12,500 square feet of combined land. The property totals 2,792 square feet and was built in 1946, with block construction, ceramic tile flooring, central air, shingle roofing, and public sewer service.
The buildings are located at 1784 and 1794 Normandy Drive in Miami Beach, with approximately 100 feet of frontage. The site is within the RM-1 multifamily district and the North Beach National Register Conservation District Overlay. A preliminary conceptual study indicates potential for approximately 12 townhouses arranged in two six-unit modules, subject to zoning, FAR, parking, historic review, and required City approvals. No development plans or unit count are approved or guaranteed.
The buildings are located at 1784 and 1794 Normandy Drive in Miami Beach, with approximately 100 feet of frontage. The site is within the RM-1 multifamily district and the North Beach National Register Conservation District Overlay. A preliminary conceptual study indicates potential for approximately 12 townhouses arranged in two six-unit modules, subject to zoning, FAR, parking, historic review, and required City approvals. No development plans or unit count are approved or guaranteed.
Key Highlights
- Eight existing rental units across two adjacent four‑unit multifamily buildings
- Approximately 12,500 square feet of combined land with approximately 100 feet of frontage
- 2,792 square feet; built in 1946
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,325
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,500
$866.5K
Cap Rate 7%
$618,929
$618.9K
Cap Rate 9%
$481,389
$481.4K
Market Conditions
NOI Build-Up for 2,792 SF
Gross rent
$84.4K $30.24/SF
− Vacancy
−$5.7K −$2.03/SF
EGI
$78.8K $28.21/SF
− OpEx
−$35.4K −$12.70/SF
NOI
$43.3K $15.52/SF
Area
Miami-Dade County, FL
Vacancy
6.70%
Lease Rate
$30.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,500
Cap Rate 7%
$618,929
Cap Rate 9%
$481,389
Alternative Uses
Best Use
Apartment 5plus
$618.9K
$541.6K – $722.1K
NOI $43,325 @ 7.0% cap · market cap 3.21%
Second Best
Multifamily LT 5
$468.3K
$409.7K – $546.3K
NOI $32,779 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,725 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,156
Businesses Nearby
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Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Miami Beach, FL
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Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Two multifamily buildings provide eight existing rental units on Normandy Isle.
Where is this quadplex located?
The property is located at 1784 Normandy Dr Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Eight existing rental units across two adjacent four‑unit multifamily buildings; Approximately 12,500 square feet of combined land with approximately 100 feet of frontage; 2,792 square feet; built in 1946
