Renovated 12-Unit Apartment
2822 Pine Tree Dr, Miami Beach, FL 33140
For Sale
$3,200,000
Commercial Sale, Miami Beach, FL
Property Size5,983 SF
Lot Size0.20 Acres
Price / SF$534.85
Days on Market127
Property Features for 2822 Pine Tree Dr
General Information
Property type
Property subtype
Zoning description
Parking features
Lot features
Subdivision
Special listing conditions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Amenities
in-unit laundry
hammocks
shaded seating
cafe-style areas
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Compass Florida, LLC
(954) 477-7332
Listed By:
Jeffrey Corriolan PA · License FL #3259001
(305) 542-6470
Added: Jul 10
Changed: Nov 10
Last Checked: Nov 13 at 11:06PM
MLS# A11930621
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 12-unit apartment property at 2822 Pine Tree Dr includes updated kitchens and bathrooms, with in-unit laundry in most residences. The 5,983-square-foot building dates to 1935 and has concrete-block construction, laminate flooring, a shingle roof, and assigned parking. The parcel measures 0.197 acres, and outdoor areas include shaded seating and hammocks.
The property is in Miami Beach, a five-minute walk from the beach. Bayshore Park, described as a 19-acre public space with tennis courts and a dog park, is also nearby. The apartments combine a range of interior upgrades with shared outdoor space and assigned parking.
The property is in Miami Beach, a five-minute walk from the beach. Bayshore Park, described as a 19-acre public space with tennis courts and a dog park, is also nearby. The apartments combine a range of interior upgrades with shared outdoor space and assigned parking.
Key Highlights
- 12‑unit apartment property with 5,983 square feet of building area
- 0.197‑acre parcel in Miami Beach
- 1935 construction; concrete‑block structure and shingle roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,842
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,856,840
$1.9M
Cap Rate 7%
$1,326,314
$1.3M
Cap Rate 9%
$1,031,578
$1.0M
Market Conditions
NOI Build-Up for 5,983 SF
Gross rent
$180.9K $30.24/SF
− Vacancy
−$12.1K −$2.03/SF
EGI
$168.8K $28.21/SF
− OpEx
−$76.0K −$12.70/SF
NOI
$92.8K $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%
$1,856,840
Cap Rate 7%
$1,326,314
Cap Rate 9%
$1,031,578
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,842 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.27M
$2.86M – $3.81M
NOI $228,702 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
12
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,936
Businesses Nearby
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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
$863,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Miami Beach, FL
Properties on Market for Apartment buildings in Miami Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Most residences have in-unit laundry, with shared outdoor seating and shaded areas on the property.
Where is this apartment building located?
The property is located at 2822 Pine Tree Dr Miami Beach, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 12‑unit apartment property with 5,983 square feet of building area; 0.197‑acre parcel in Miami Beach; 1935 construction; concrete‑block structure and shingle roof
