Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Waterfront Land in Miami Beach Title is generated by Realmo AI

    1920 Bay Dr, Miami Beach, FL 33141

    View on Map
    Claim this Listing
    New
    For Sale
    $5,500,000

    Land - Miami Beach, FL

    Lot size:
    0.20 Acres
    Added:
    May 8, 2026
    Days on Market:
    5
    Last Refresh:
    May 12 at 5:06 pm

    Property Features for 1920 Bay Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    3900
    Standard status
    Active
    APN
    02-32-10-002-1250
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    100000

    Utilities

    Water source
    Other
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Samuel Heskiel

    Listing agent Samuel Heskiel License #3374968

    Listing office Beachfront Realty Inc 18205 Biscayne Blvd Ste 2205, Miami Beach, FL

    Listing date May 8, 2026

    MLS# A12015615 Listing URL

    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.

    HighLights

    • Unobstructed panoramic views of the wide bay and downtown Miami skyline
    • Prime, high‑end residential property
    • Rare opportunity for luxury waterfront living
    • Located in a sought‑after area of Miami Beach
    • Waterfront property
    • Opportunity to build a dream oversized room or boutique condo building

    Overview

    Located in Miami Beach, the property at 1920 Bay Dr is a high-end residential land offering unobstructed panoramic views of the wide bay and downtown Miami skyline. The lot size is 0.2032 acres. The zoning is 3900. This property presents an opportunity for luxury waterfront living and construction of an oversized room or a boutique condo building. It is located in a sought-after area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.14078
    Latitude
    25.849466

    Nearby Similar for Sale

    • $19,500,000
      8,000 SF

      Faena District Hospitality Asset

      Partially completed mixed-use hospitality asset in Miami Beach's Faena District.
      2814 Collins Ave, Miami Beach, FL 33140
      View Details
    • $795,000
      860 SF

      Lincoln Road Retail Opportunity

      Prime retail space on iconic Lincoln Road in Miami Beach.
      1300 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • $5,000,000
      7,762 SF

      Alton Road Retail Opportunity

      Four-unit building on a high-traffic corridor with redevelopment potential.
      1558 Alton Rd, Miami Beach, FL 33139
      View Details
    • $13,194

      Turnkey Restaurant Space in Miami Beach

      Fully equipped restaurant space in a high-traffic South Beach location.
      1216 Washington AVE, Miami Beach, FL 33139
      View Details
    • $375,000
      1,130 SF

      Oceanfront Miami Beach Office Space

      Prime office space in oceanfront building with immediate rental income.
      5601 Collins Ave, Miami Beach, FL 33140
      View Details
    • $16,000,000

      Miami Beach Development Opportunity

      Rare South of Fifth development opportunity with income and upside.
      249 Collins Ave, Miami Beach, FL 33139
      View Details
    • $11,000,000

      Miami Beach Retail Redevelopment Opportunity

      Prime commercial property with redevelopment potential in Miami Beach.
      1441 Alton Rd, Miami Beach, FL 33139
      View Details
    • $9,000,000
      600 SF

      Iconic South Beach Property

      Rare opportunity to own a landmark nightlife property.
      1527 Washington Ave, Miami Beach, FL 33139
      View Details
    • $3,850,000
      6,960 SF

      Multifamily Investment in Miami Beach

      Multifamily property on oversized lot with renovation potential in Miami Beach.
      800 85th St, Miami Beach, FL 33141
      View Details
    • $900,000

      Miami Beach Commercial Space

      Prime commercial space in Miami Beach's Sunset Harbour neighborhood.
      1400 20th St, Miami Beach, FL 33139
      View Details
    • $5,000,000

      Renovated Office Condo on Lincoln

      Boutique office building in the heart of Miami Beach.
      605 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • $750,000

      Miami Beach Salon Business Opportunity

      Turnkey salon business with high visibility in Miami Beach.
      1800 Bay Rd Ste #101, Miami Beach, FL 33139
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - High-end residential property with bay and skyline views.
    Where is this waterfront land located?
    The property is located at 1920 Bay Dr Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: Unobstructed panoramic views of the wide bay and downtown Miami skyline; Prime, high‑end residential property; Rare opportunity for luxury waterfront living
    (305) 405-0615
    We can help!
    Listing Contact
    Samuel Heskiel
    Real Estate License ID: 3374968
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1920 Bay Dr, Miami Beach, FL 33141
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!