Adjacent Quadplex
1794 Normandy Dr, Miami Beach, FL 33141
For Sale
$1,350,000
Residential Income, Miami Beach, FL
Property Size3,000 SF
Lot Size0.29 Acres
Price / SF$450
Days on Market91
Property Features for 1794 Normandy Dr
General Information
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Zoning description
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Full bathrooms
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Subdivision
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APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
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Legal Description
Utilities
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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# A12069727
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 Miami Beach offering includes two neighboring multifamily buildings, each arranged with four residential units, for a total of eight existing rental units. The properties are constructed with block walls, ceramic tile flooring, concrete roofs, and a mix of central and wall or window cooling systems. One building dates to 1946, and public sewer service is available.
The properties at 1784 and 1794 Normandy Drive comprise approximately 12,500 SF of combined land with approximately 100 feet of frontage. The site is within the RM-1 multifamily district and the North Beach National Register Conservation District Overlay. Preliminary conceptual planning examines a possible 12-townhouse configuration in two six-unit modules, subject to zoning, FAR, parking, historic review, City approvals, and independent buyer due diligence. No development plans or unit count are approved or guaranteed.
The properties at 1784 and 1794 Normandy Drive comprise approximately 12,500 SF of combined land with approximately 100 feet of frontage. The site is within the RM-1 multifamily district and the North Beach National Register Conservation District Overlay. Preliminary conceptual planning examines a possible 12-townhouse configuration in two six-unit modules, subject to zoning, FAR, parking, historic review, City approvals, and independent buyer due diligence. No development plans or unit count are approved or guaranteed.
Key Highlights
- Two adjacent quadplex properties at 1784 and 1794 Normandy Drive
- Eight existing rental units across the two properties
- Approximately 12,500 SF of combined land
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,553
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,060
$931.1K
Cap Rate 7%
$665,043
$665.0K
Cap Rate 9%
$517,256
$517.3K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$90.7K $30.24/SF
− Vacancy
−$6.1K −$2.03/SF
EGI
$84.6K $28.21/SF
− OpEx
−$38.1K −$12.70/SF
NOI
$46.6K $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%
$931,060
Cap Rate 7%
$665,043
Cap Rate 9%
$517,256
Alternative Uses
Best Use
Apartment 5plus
$665.0K
$581.9K – $775.9K
NOI $46,553 @ 7.0% cap · market cap 3.45%
Second Best
Multifamily LT 5
$503.2K
$440.3K – $587.0K
NOI $35,221 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,676 @ 7.0% cap · market cap 8.49%
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
Properties on Market for Quadplexes in Miami Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - The assemblage combines two four-unit multifamily buildings for rental use.
Where is this quadplex located?
The property is located at 1794 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: Two adjacent quadplex properties at 1784 and 1794 Normandy Drive; Eight existing rental units across the two properties; Approximately 12,500 SF of combined land
