20-Unit Apartment
For Sale
$4,700,000
7717 Byron Avenue, Miami Beach, FL 33141
Multifamily asset with existing income and stated potential for renovation, repositioning, or redevelopment.
Property Size10,809 SF
Lot Size0.26 Acres
Price / SF$434.82
Days on Market117
Property Features for 7717 Byron Avenue
General Information
Standard status
Active
Size
10,809 SF
Lot size
0.26 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
20
Building Details
Building Size
10,809 SF
Year Built
1958
Listing Agency:
Beachfront Realty Inc
Listed By:
Marilina R Apfelbaum · License #0662372
(786) 287-3633
Source:
Silverleafrealtygroup
Added: Jun 25
Changed: Oct 11
Last Checked: Oct 19 at 1:24PM
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 Beachfront Realty Inc
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Investment Insights
Based on property information with market context.
This 20-unit apartment property includes 10,809 square feet of building area on an 11,300-square-foot lot. Constructed in 1958, the asset has existing income and is identified as having potential for renovation, repositioning, or redevelopment. Its scale provides a substantial multifamily footprint within a compact site configuration.
The property is located at 7717 Byron Ave in Miami Beach’s North Beach area, near Collins Avenue, the beach, restaurants, and shops. The surrounding area is also described as experiencing neighborhood growth, placing the asset within an active Miami Beach submarket.
The property is located at 7717 Byron Ave in Miami Beach’s North Beach area, near Collins Avenue, the beach, restaurants, and shops. The surrounding area is also described as experiencing neighborhood growth, placing the asset within an active Miami Beach submarket.
Key Highlights
- 20‑unit multifamily property
- 10,809 SF building area
- 11,300 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$166,235
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,324,700
$3.3M
Cap Rate 7%
$2,374,786
$2.4M
Cap Rate 9%
$1,847,056
$1.8M
Market Conditions
NOI Build-Up for 10,809 SF
Gross rent
$316.5K $29.28/SF
− Vacancy
−$14.2K −$1.32/SF
EGI
$302.2K $27.96/SF
− OpEx
−$136.0K −$12.58/SF
NOI
$166.2K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,324,700
Cap Rate 7%
$2,374,786
Cap Rate 9%
$1,847,056
Alternative Uses
Best Use
Apartment 5plus
$2.37M
$2.08M – $2.77M
NOI $166,235 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.48M
$4.80M – $6.40M
NOI $383,870 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
2,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily asset with existing income and stated potential for renovation, repositioning, or redevelopment.
Where is this apartment building located?
The property is located at 7717 Byron Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: 20‑unit multifamily property; 10,809 SF building area; 11,300 SF lot
