Multi-Family Apartment
3900 GARDEN AV Miami Beach, FL 33140
For Sale
$3,750,000
Pending
Nineteen-unit apartment complex in CD-3 high-intensity commercial zoning, with multiple unit types across two two-story buildings.
Property Size12,714 SF
Days on Market4440
Property Features for 3900 GARDEN AV
General Information
Standard status
Pending
Size
12,714 SF
Property subtype
General Commercial
Building Details
Year Built
1947
Listing Agency:
One Sotheby's International Realty
(305) 695-4253
Listed By:
Susan Gale · License #0394993
(305) 695-4253
Source:
Xome
Added: Jun 3, 2014
Changed: Jul 28
Last Checked: Jul 28 at 12:47PM
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 One Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 19-unit apartment complex includes two two-story buildings totaling 16 one-bedroom units, one two-bedroom/two-bath unit, one studio, and one efficiency. The property is currently configured for residential income use.
The site is located in Miami Beach within CD-3 high intensity commercial zoning, positioned just off high-traffic 41st Street with access to I-95.
Sale includes folio 02-3222-019-0080. The CD-3 zoning allows for a range of uses, including apartments and hotel, as well as retail and office. The property is also described as a development opportunity with potential to build over 32,000 SF and up to seven stories.
The site is located in Miami Beach within CD-3 high intensity commercial zoning, positioned just off high-traffic 41st Street with access to I-95.
Sale includes folio 02-3222-019-0080. The CD-3 zoning allows for a range of uses, including apartments and hotel, as well as retail and office. The property is also described as a development opportunity with potential to build over 32,000 SF and up to seven stories.
Key Highlights
- 19‑unit apartment complex in CD‑3 high‑intensity commercial zoning
- Two two‑story apartment buildings with 16 one‑bed units, 1 two‑bed/2‑bath, 1 studio, and 1 efficiency
- Located just off 41st Street with entrance to I‑95
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 | $372.3k | $29.28 |
| − Vacancy | −$16.8k | −$1.32 |
| EGI | $355.5k | $27.96 |
| − OpEx | −$160.0k | −$12.58 |
| NOI | $195.5k | $15.38 |
12,714 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.79M
$2.44M – $3.26M
NOI $195,533 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.45M
$5.64M – $7.53M
NOI $451,524 @ 7.0% cap · market cap 12.04%
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 - Nineteen-unit apartment complex in CD-3 high-intensity commercial zoning, with multiple unit types across two two-story buildings.
Where is this apartment building located?
The property is located at 3900 GARDEN AV Miami Beach, FL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 19‑unit apartment complex in CD‑3 high‑intensity commercial zoning; Two two‑story apartment buildings with 16 one‑bed units, 1 two‑bed/2‑bath, 1 studio, and 1 efficiency; Located just off 41st Street with entrance to I‑95
