Waterfront Multifamily with Boat
2045 Calais Dr Miami Beach, FL 33141
For Sale
$1,750,000
Pending
Nine-unit waterfront building with canal frontage and five boat slips accommodating boats up to 32 feet.
Property Size7,154 SF
Days on Market2769
Property Features for 2045 Calais Dr
General Information
Standard status
Pending
Size
7,154 SF
Property subtype
General Commercial
Building Details
Year Built
1951
Listing Agency:
Oceanica International Realty
(786) 281-9131
Listed By:
Marek Malarski · License #3434195
(786) 281-9131
Source:
Xome
Added: Dec 29, 2018
Changed: Jul 25
Last Checked: Jul 25 at 1:58PM
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 Oceanica International Realty
Investment Insights
Based on property information with market context.
This for-sale multifamily property is a nine-unit waterfront building featuring a mix of residences, including two 2-bedroom, 2-bath units, six 1-bedroom, 1-bath units, and one studio. The building is set on a 120+ foot wide canal, with access to the open bay less than 900 feet away and one fixed bridge. The property also includes five boat slips that can accommodate boats up to 32 feet.
Situated in the heart of Normandy Isle at 2045 Calais Dr, the building’s waterfront setting supports both residential and on-site boating access.
A new barrel tile roof was installed approximately 15 years ago.
Situated in the heart of Normandy Isle at 2045 Calais Dr, the building’s waterfront setting supports both residential and on-site boating access.
A new barrel tile roof was installed approximately 15 years ago.
Key Highlights
- Nine‑unit waterfront building in the heart of Normandy Isle
- Unit mix: 2 units (2 bed/2 bath), 6 units (1 bed/1 bath), and 1 studio
- Located on a 120+ ft wide canal less than 900 ft from the open bay with 1 fixed bridge
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $209.5k | $29.28 |
| − Vacancy | −$9.4k | −$1.32 |
| EGI | $200.0k | $27.96 |
| − OpEx | −$90.0k | −$12.58 |
| NOI | $110.0k | $15.38 |
7,154 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.38M – $1.83M
NOI $110,024 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.63M
$3.18M – $4.23M
NOI $254,067 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Nine-unit waterfront building with canal frontage and five boat slips accommodating boats up to 32 feet.
Where is this apartment building located?
The property is located at 2045 Calais Dr Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Nine‑unit waterfront building in the heart of Normandy Isle; Unit mix: 2 units (2 bed/2 bath), 6 units (1 bed/1 bath), and 1 studio; Located on a 120+ ft wide canal less than 900 ft from the open bay with 1 fixed bridge
