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    Turnkey 8-Room Bed & Breakfast Title is generated by Realmo AI

    711 Lenox Ave, Miami Beach, FL 33139

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    New
    For Sale
    $2,850,000

    Fourplex, Quadruplex - Miami Beach, FL

    Type:Quadruplex
    Property size:
    2,558 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $1,114/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 6:06 am

    Property Features for 711 Lenox Ave

    General Information

    Property type
    Residential
    Property subtype
    Quadruplex
    Zoning
    3900
    Bedrooms
    8
    Bathrooms
    8
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    4
    Patio and Porch features
    Deck
    Exterior features
    Barbecue, Deck
    Standard status
    Active
    APN
    02-42-03-009-7570
    Size
    2,558 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    24953

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1934
    Flooring type
    Tile
    Building materials
    Block
    Roof type
    Spanish Tile, Tile
    Architectural style
    Other

    We can help!

    Listing Contact
    David Restainer PA

    Listing agent David Restainer PA License #0661121

    Listing office Douglas Elliman 1515 Sunset Dr # 10, Palm Beach, FL

    Listing date Jun 4, 2026

    MLS# A12030556 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

    • Built in 1934 with Spanish tile/roofing and block construction
    • 8‑room, fully licensed boutique bed & breakfast operating as Bars Hotel
    • Comprehensively renovated in 2013
    • 7,500 SF lot in Miami Beach's Art Deco Historic District
    • Central heating and central A/C
    • Public water; tile flooring and multiple decks

    Overview

    Operating as a fully-licensed, turnkey 8-room boutique bed & breakfast, 711 Lenox Avenue is a Spanish Colonial Revival property built in 1934 and comprehensively renovated in 2013. The asset is presented for sale as an operating hospitality business and includes the guestrooms configured for guest stays.

    Set on a 7,500 SF lot in the Miami Beach Art Deco Historic District, the property is described as an approximately 11-minute walk to the Atlantic and within blocks of Lincoln Road, Ocean Drive, Flamingo Park, and the Miami Beach Convention Center. The offering is positioned around its historic character and active hotel licensing.

    For buyers seeking an income-producing, operating hospitality asset, this turnkey configuration—currently branded and operating as Bars Hotel—may be attractive for immediate use. The property’s long operating history is supported by the remarks, which cite a 14-year track record of guest acclaim, including a noted #1 Bed & Breakfast ranking on TripAdvisor. Zoning is listed as 3900.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bed & breakfasts

    Suggested Use

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

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

    Similar Places Nearby

    • Hotel St. Augustine By At Mine Hospitality — 347 Washington Ave, Miami Beach, FL 33139
    • South Beach One Bedroom Corner Partial Ocean View w/Balcony — Miami Beach, FL 33139
    • First Street Apartments — 100 Collins Ave, Miami Beach, FL 33139
    • The Julia — 328 euclid ave, miami beach, fl 33139
    • The Fountain Vacation Rentals - Miami Beach — 334 Euclid Ave, Miami Beach, FL 33139

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.139244
    Latitude
    25.777243

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    FAQs

    What type of property is this?
    Bed & breakfast - Fully-licensed turnkey boutique bed and breakfast offering eight guest rooms in a historic Miami Beach setting.
    Where is this bed & breakfast located?
    The property is located at 711 Lenox Ave Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $2,850,000.
    What are key features of this property?
    This property features: Built in 1934 with Spanish tile/roofing and block construction; 8‑room, fully licensed boutique bed & breakfast operating as Bars Hotel; Comprehensively renovated in 2013
    (305) 695-6300
    We can help!
    Listing Contact
    David Restainer PA
    Real Estate License ID: 0661121
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    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.

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