Miami Beach Development
For Sale
$1,500,000
7821 Byron Avenue, Miami Beach, FL 33141
Prime real estate with approved luxury development project.
Property Size3,382 SF
Price / SF$443.52
Days on Market474
Property Features for 7821 Byron Avenue
General Information
Standard status
Active
Size
3,382 SF
Property subtype
Commercial Sale / Multi Family
Taxes and HOA fees
Annual Taxes
$15,568
Amenities
No
Building Details
Year Built
1952
Listing Agency:
Beachfront Realty Inc
Listed By:
Marilina R Apfelbaum · License #0662372
(786) 287-3633
Source:
Compass
Added: Jul 4, 2025
Changed: Sep 8
Last Checked: Oct 19 at 8:19AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property presents a development opportunity in a rapidly growing area of Miami. Currently, the site includes a two-story multifamily building featuring four rentable units, which provides an income stream. The approved project allows for the construction of a five-story building designed to accommodate 14 luxury units. This development is suited for high-end buyers or tenants seeking convenient access to Miami Beach's restaurants, shopping centers, and beaches. The location offers the potential to create a landmark development in South Florida, combining income stability with growth prospects.
Key Highlights
- Approved project for a five‑story building with 14 luxury units.
- Prime real estate in a fast‑growing Miami area.
- Exceptional potential for developers to capitalize on luxury housing demand.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,377
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
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
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 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 3.76%
Second Best
Apartment 5plus
$743.0K
$650.2K – $866.9K
NOI $52,013 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,108 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Commercial land - Prime real estate with approved luxury development project.
Where is this commercial land located?
The property is located at 7821 Byron Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approved project for a five‑story building with **14 luxury units**.; Prime real estate in a fast‑growing Miami area.; Exceptional potential for developers to capitalize on luxury housing demand.
