Four-Unit Multifamily
For Sale
$1,550,000
2816 Pine Tree Drive, Miami Beach, FL 33140
Residential income asset with four units in Miami Beach.
Property Size3,158 SF
Price / SF$490.82
Days on Market187
Property Features for 2816 Pine Tree Drive
General Information
Standard status
Active
Size
3,158 SF
Property subtype
Multi-Family Income / Fourplex
Taxes and HOA fees
Annual Taxes
$17,760
Building Details
Year Built
1929
Listing Agency:
Real Estate Sales Force
Listed By:
Nikki Viamontes · License #3242641
(305) 396-9009
Source:
Compass
Added: Mar 2
Changed: Aug 31
Last Checked: Aug 30 at 7:57AM
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 Real Estate Sales Force
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 3,158 square feet and was built in 1929. The asset is located at 2816 Pine Tree Drive in Miami Beach, Florida 33140.
Key Highlights
- Four‑unit multifamily property
- 3,158 square feet
- Built in 1929
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,643
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,052,860
$1.1M
Cap Rate 7%
$752,043
$752.0K
Cap Rate 9%
$584,922
$584.9K
Market Conditions
NOI Build-Up for 3,158 SF
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.
Gross rent
$79.6K $25.20/SF
− Vacancy
−$4.4K −$1.39/SF
EGI
$75.2K $23.81/SF
− OpEx
−$22.6K −$7.14/SF
NOI
$52.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,052,860
Cap Rate 7%
$752,043
Cap Rate 9%
$584,922
Alternative Uses
Best Use
Multifamily LT 5
$752.0K
$658.0K – $877.4K
NOI $52,643 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$693.8K
$607.1K – $809.5K
NOI $48,568 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,153 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
926
Businesses Nearby
Explore this area
Business Placement
Demographics for 33140, FL
19,315
Population
16,000
Households
1.2
Avg Household Size
46
Median Age
62%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,231
Density / Sq Mi
$103,898
Median Household Income
$65,708
Median Earnings
$2,020
Median Rent
$863,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income asset with four units in Miami Beach.
Where is this quadplex located?
The property is located at 2816 Pine Tree Drive Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Four‑unit multifamily property; 3,158 square feet; Built in 1929
