Multifamily Building with 8
For Sale
$2,059,000
7936 Harding Avenue, Miami Beach, FL 33141
Standalone multifamily building with eight stabilized units: four studios and four one-bedrooms.
Property Size4,640 SF
Price / SF$443.75
Days on Market50
Property Features for 7936 Harding Avenue
General Information
Standard status
Active
Size
4,640 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
8
Building Details
Year Built
1939
Listing Agency:
Elite Ocean View Realty LLC
(305) 600-1278
Listed By:
Teodoro Palmieri · License #3066859
(786) 380-0581
Source:
Lehmannflorida
Added: Jul 19
Changed: Sep 6
Last Checked: Sep 6 at 6:42AM
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 Elite Ocean View Realty LLC
Investment Insights
Based on property information with market context.
This standalone multifamily property includes 8 stabilized units: 4 studios and 4 one-bedrooms. The building is currently fully occupied on steady one-year leases. Reported financials include gross income of $164,400 per year, operating expenses of $40,777 per year, resulting in a net operating income (NOI) of $123,623.
The asset is located at 7936 Harding Avenue in Miami Beach, Florida. The provided remarks note the property is in a district that explicitly permits short-term rentals (STR), offering the option for a new owner to pivot the building to a vacation rental or flexible-stay model.
The asset is located at 7936 Harding Avenue in Miami Beach, Florida. The provided remarks note the property is in a district that explicitly permits short-term rentals (STR), offering the option for a new owner to pivot the building to a vacation rental or flexible-stay model.
Key Highlights
- Standalone multifamily building built in 1939 with 8 stabilized units: 4 studios and 4 one‑bedrooms
- Current income: $164,400 gross income per year with lean operating expenses of $40,777
- Projected Net Operating Income (NOI) of $123,623 based on provided figures
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
$71,360
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
3.47%
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%
$1,427,200
$1.4M
Cap Rate 7%
$1,019,429
$1.0M
Cap Rate 9%
$792,889
$792.9K
Market Conditions
NOI Build-Up for 4,640 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
$135.9K $29.28/SF
− Vacancy
−$6.1K −$1.32/SF
EGI
$129.7K $27.96/SF
− OpEx
−$58.4K −$12.58/SF
NOI
$71.4K $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 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%
$1,427,200
Cap Rate 7%
$1,019,429
Cap Rate 9%
$792,889
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$892.0K – $1.19M
NOI $71,360 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.06M – $2.75M
NOI $164,785 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
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?
Apartment building - Standalone multifamily building with eight stabilized units: four studios and four one-bedrooms.
Where is this apartment building located?
The property is located at 7936 Harding Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $2,059,000.
What are key features of this property?
This property features: Standalone multifamily building built in 1939 with 8 stabilized units: 4 studios and 4 one‑bedrooms; Current income: $164,400 gross income per year with lean operating expenses of $40,777; Projected Net Operating Income (NOI) of $123,623 based on provided figures
