4-Unit
For Sale
$1,300,000
7821 Byron Avenue, Miami Beach, FL 33141
Tenants are in place, with proximity to Collins Avenue, the beach, restaurants, and shops.
Property Size3,382 SF
Lot Size0.13 Acres
Price / SF$384.39
Days on Market48
Property Features for 7821 Byron Avenue
General Information
Standard status
Active
Size
3,382 SF
Lot size
0.13 Acres
Property subtype
Multi Family
Building Details
Building Size
3,382 SF
Year Built
1952
Tenancy
Multi
Listing Agency:
Beachfront Realty Inc
(786) 287-3633
Listed By:
Marilina R Apfelbaum · License #0662372
(786) 287-3633
Source:
Silverleafrealtygroup
Added: Jun 26
Changed: Aug 3
Last Checked: Aug 11 at 12:08PM
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
Investment Insights
Based on property information with market context.
This Miami Beach quadplex includes four residential units within 3,382 square feet of building area on a 5,650-square-foot lot. Constructed in 1952, the property is currently occupied by tenants and offers a compact multifamily configuration for an investor or owner seeking an established residential asset.
The property is situated in North Beach near Collins Avenue, the beach, restaurants, and shops. It is also positioned within the Altos Del Mar / North Shore submarket, where neighborhood redevelopment is occurring. Its location and existing tenant occupancy provide a clear basis for evaluating the property as part of a Miami Beach multifamily portfolio.
The property is situated in North Beach near Collins Avenue, the beach, restaurants, and shops. It is also positioned within the Altos Del Mar / North Shore submarket, where neighborhood redevelopment is occurring. Its location and existing tenant occupancy provide a clear basis for evaluating the property as part of a Miami Beach multifamily portfolio.
Key Highlights
- Four‑unit multifamily property in Miami Beach
- 3,382 SF of building area
- 5,650‑square‑foot lot
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
$56,377
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
4.34%
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%
$1,127,540
$1.1M
Cap Rate 7%
$805,386
$805.4K
Cap Rate 9%
$626,411
$626.4K
Market Conditions
NOI Build-Up for 3,382 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
$85.2K $25.20/SF
− Vacancy
−$4.7K −$1.39/SF
EGI
$80.5K $23.81/SF
− OpEx
−$24.2K −$7.14/SF
NOI
$56.4K $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%
$1,127,540
Cap Rate 7%
$805,386
Cap Rate 9%
$626,411
Alternative Uses
Best Use
Multifamily LT 5
$805.4K
$704.7K – $939.6K
NOI $56,377 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$743.0K
$650.2K – $866.9K
NOI $52,013 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,108 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,558
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Tenants are in place, with proximity to Collins Avenue, the beach, restaurants, and shops.
Where is this quadplex located?
The property is located at 7821 Byron Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Four‑unit multifamily property in Miami Beach; 3,382 SF of building area; 5,650‑square‑foot lot
