Renovated Furnished Hospitality
For Sale
$6,500,000
807 Alton Rd, Miami Beach, FL 33139
MULTI_FAMILY - Other - Miami Beach, FL
Property Size14,518 SF
Price / SF$447.72
Days on Market88
Property Features for 807 Alton Rd
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
6400
Parking
4
Subdivision
LENOX MANOR
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
02-42-03-014-0380
Size
14,518 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
3 54 42 LENOX MANOR RE-SUB PB 7-15 W109.89FT OF LOTS 6 & 7 BLK 122 LOT SIZE 15035 SQ FT M/L OR 21181-2993/22261-1925 0404 3
Tax Annual Amount
90422
Legal Description
3 54 42 LENOX MANOR RE-SUB PB 7-15 W109.89FT OF LOTS 6 & 7 BLK 122 LOT SIZE 15035 SQ FT M/L OR 21181-2993/22261-1925 0404 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1945
Floors in Building
2
Flooring type
Tile
Building materials
Block
Roof type
Concrete
Architectural style
Other
Listing Agency:
Compass Florida, LLC
(305) 851-2820
Listed By:
Arthur Porosoff · License #3160379
(305) 209-8866
Added: May 12
Changed: Jul 18
Last Checked: Aug 7 at 12:06AM
MLS# A11929338
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 20-unit hospitality asset at 807 Alton Rd presents a turnkey configuration designed for short-term stays. The property includes 20 renovated, fully furnished units, each with modern interiors and guest-oriented layouts. In-unit conveniences include full kitchens or kitchenettes, and the property also provides Wi-Fi. On-site laundry supports guest comfort and day-to-day operational needs.
The building is positioned along Alton Road between 8th and 9th Street in Miami Beach. The location is described as walkable to nearby shopping and recreation, including Whole Foods, Publix, Flamingo Park, and South of Fifth, as well as retail and dining destinations along the Miami Beach corridor.
For investors or operators looking for an income-generating hospitality concept, this property’s existing unit finish and furnished, amenity-equipped setups can help reduce the need for immediate interior improvements. Alternatively, it may appeal to an operator interested in managing a flexible hospitality strategy using the current furnished unit framework and on-site laundry offering.
The building is positioned along Alton Road between 8th and 9th Street in Miami Beach. The location is described as walkable to nearby shopping and recreation, including Whole Foods, Publix, Flamingo Park, and South of Fifth, as well as retail and dining destinations along the Miami Beach corridor.
For investors or operators looking for an income-generating hospitality concept, this property’s existing unit finish and furnished, amenity-equipped setups can help reduce the need for immediate interior improvements. Alternatively, it may appeal to an operator interested in managing a flexible hospitality strategy using the current furnished unit framework and on-site laundry offering.
Key Highlights
- 20‑unit hospitality asset on Alton Road between 8th and 9th Street
- 20 renovated, fully furnished units
- In‑unit options include full kitchens or kitchenettes
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
$223,277
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
3.44%
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%
$4,465,540
$4.5M
Cap Rate 7%
$3,189,671
$3.2M
Cap Rate 9%
$2,480,856
$2.5M
Market Conditions
NOI Build-Up for 14,518 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
$425.1K $29.28/SF
− Vacancy
−$19.1K −$1.32/SF
EGI
$406.0K $27.96/SF
− OpEx
−$182.7K −$12.58/SF
NOI
$223.3K $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%
$4,465,540
Cap Rate 7%
$3,189,671
Cap Rate 9%
$2,480,856
Alternative Uses
Best Use
Apartment 5plus
$3.19M
$2.79M – $3.72M
NOI $223,277 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.37M
$6.44M – $8.59M
NOI $515,592 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
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 - Turnkey 20-unit hospitality property with renovated furnished units, kitchens or kitchenettes, Wi-Fi, and on-site laundry.
Where is this short term rental property located?
The property is located at 807 Alton Rd Miami Beach, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 20‑unit hospitality asset on Alton Road between 8th and 9th Street; 20 renovated, fully furnished units; In‑unit options include full kitchens or kitchenettes
