Two-Property Quadplex
For Sale
$1,375,000
1784 Normandy Drive, Miami Beach, FL 33141
The assemblage combines two adjacent four-unit multifamily properties for existing rental occupancy.
Property Size2,792 SF
Lot Size0.29 Acres
Price / SF$492.48
Days on Market69
Property Features for 1784 Normandy Drive
General Information
Standard status
Active
Size
2,792 SF
Lot size
0.29 Acres
Property subtype
Residential Income
Zoning
3900
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$15,500
Building Details
Building Size
2,792 SF
Year Built
1946
Buildings
2
Stories
2
Listing Agency:
Beachfront Realty Inc
Listed By:
Franck Aravya · License #3139678
(305) 989-9312
Source:
Laerrealty
Added: Aug 14
Changed: Oct 5
Last Checked: Oct 20 at 5:53PM
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 Beachfront Realty Inc
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Investment Insights
Based on property information with market context.
This Miami Beach assemblage includes two adjacent multifamily properties at 1784 and 1794 Normandy Drive. Each property contains four units, creating eight existing rental units across approximately 12,500 SF of combined land. The properties were built in 1946 and provide an existing residential income component.
The site has approximately 100 feet of frontage and is located in Normandy Isle within the North Beach National Register Conservation District Overlay. Preliminary conceptual planning illustrates a possible 12-townhouse configuration arranged as two six-unit modules, subject to verification of zoning, FAR, parking, historic classification, and all required City approvals. No development plans or unit count are approved or guaranteed.
The site has approximately 100 feet of frontage and is located in Normandy Isle within the North Beach National Register Conservation District Overlay. Preliminary conceptual planning illustrates a possible 12-townhouse configuration arranged as two six-unit modules, subject to verification of zoning, FAR, parking, historic classification, and all required City approvals. No development plans or unit count are approved or guaranteed.
Key Highlights
- Two adjacent four‑unit multifamily properties offered together
- Eight existing rental units across the assemblage
- Approximately 12,500 SF of combined land
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,542
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,840
$930.8K
Cap Rate 7%
$664,886
$664.9K
Cap Rate 9%
$517,133
$517.1K
Market Conditions
NOI Build-Up for 2,792 SF
Gross rent
$70.4K $25.20/SF
− Vacancy
−$3.9K −$1.39/SF
EGI
$66.5K $23.81/SF
− OpEx
−$19.9K −$7.14/SF
NOI
$46.5K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,840
Cap Rate 7%
$664,886
Cap Rate 9%
$517,133
Alternative Uses
Best Use
Multifamily LT 5
$664.9K
$581.8K – $775.7K
NOI $46,542 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$613.4K
$536.7K – $715.7K
NOI $42,939 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,155 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,156
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - The assemblage combines two adjacent four-unit multifamily properties for existing rental occupancy.
Where is this quadplex located?
The property is located at 1784 Normandy Drive Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Two adjacent four‑unit multifamily properties offered together; Eight existing rental units across the assemblage; Approximately 12,500 SF of combined land
