Licensed Short Term Rental
For Sale
Contact for pricing
8040 Harding Ave, Miami Beach, FL 33141
Eight 2-bedroom, 1-bath units in a renovated 1953 concrete-block building, operated as a licensed short-term rental property.
Property Size7,052 SF
Lot Size0.13 Acres
Price / SF$439.59
Days on Market155
Property Features for 8040 Harding Ave
General Information
Standard status
Active
Size
7,052 SF
Lot size
0.13 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Multifamily Units
8
Building Details
Year Built
1952
Year Renovated
2018
Buildings
1
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
Horvath & Tremblay
Listed By:
David Cohen · License #SL3282943
Source:
Crexi
Added: Apr 6
Changed: Aug 27
Last Checked: Sep 4 at 10:01PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Horvath & Tremblay is pleased to present the exclusive sale of 8040 Harding Avenue, an 8-unit licensed short-term rental property. The building was constructed of concrete block in 1953 and renovated in 2018. The property contains eight 2-bedroom, 1-bathroom units and provides direct entry to the residences. It is presented as a secure, gated property with landscaping and on-site street parking.
The property is located at the intersection of 81st Street and Harding Avenue, just steps from Collins Avenue (A1A), with access to public beaches including Miami Beach–North Beach and North Shore Park Beach. Major road access includes A1A, SR 934, and SR 907, along with convenient connectivity to Interstate 95.
The offering includes eight residential units totaling 5,824 square feet of living area.
The property is located at the intersection of 81st Street and Harding Avenue, just steps from Collins Avenue (A1A), with access to public beaches including Miami Beach–North Beach and North Shore Park Beach. Major road access includes A1A, SR 934, and SR 907, along with convenient connectivity to Interstate 95.
The offering includes eight residential units totaling 5,824 square feet of living area.
Key Highlights
- 8‑unit licensed short‑term rental property in Miami Beach’s North Beach neighborhood
- Built in 1952; concrete‑block construction with renovation completed in 2018
- Eight 2‑bedroom/1‑bath units totaling 5,824 SF of living area
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
$108,455
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
3.50%
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%
$2,169,100
$2.2M
Cap Rate 7%
$1,549,357
$1.5M
Cap Rate 9%
$1,205,056
$1.2M
Market Conditions
NOI Build-Up for 7,052 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
$206.5K $29.28/SF
− Vacancy
−$9.3K −$1.32/SF
EGI
$197.2K $27.96/SF
− OpEx
−$88.7K −$12.58/SF
NOI
$108.5K $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%
$2,169,100
Cap Rate 7%
$1,549,357
Cap Rate 9%
$1,205,056
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,455 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.58M
$3.13M – $4.17M
NOI $250,444 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,074
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
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Frequently Asked Questions
What type of property is this?
Short term rental property - Eight 2-bedroom, 1-bath units in a renovated 1953 concrete-block building, operated as a licensed short-term rental property.
Where is this short term rental property located?
The property is located at 8040 Harding Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 8‑unit licensed short‑term rental property in Miami Beach’s North Beach neighborhood; Built in 1952; concrete‑block construction with renovation completed in 2018; Eight 2‑bedroom/1‑bath units totaling 5,824 SF of living area
