Miami Beach Multifamily
For Sale
Contact for pricing
846 Lenox Avenue and 1333 Meridian Avenue, Miami Beach, FL 33139
29-unit multifamily property in Miami Beach available for sale.
Property Size17,146 SF
Price / SF$449.08
Days on Market219
Property Features for 846 Lenox Avenue and 1333 Meridian Avenue
General Information
Standard status
Active
Size
17,146 SF
Class
B
Total Parking Spaces
15
Property subtype
Multifamily
Zoning
Multifamily
Occupancy
95%
Investment Type
Value Add
Building Details
Year Built
1988
Buildings
2
Stories
2
Units
29
Listing Agency:
Coldwell Banker Realty
Listed By:
Rosy Cancela · License #0574234
(305) 342-7442
Source:
Crexi
Added: Mar 2
Changed: Oct 4
Last Checked: Oct 5 at 7:28PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This multifamily property, located in Miami Beach, Florida, comprises 29 units. The total property size is 17,146 square feet. The property is intended for multifamily residential income use.
Key Highlights
- Multifamily property
- 29 Units
- Priced at $265,517/unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$263,694
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,273,880
$5.3M
Cap Rate 7%
$3,767,057
$3.8M
Cap Rate 9%
$2,929,933
$2.9M
Market Conditions
NOI Build-Up for 17,146 SF
Gross rent
$502.0K $29.28/SF
− Vacancy
−$22.6K −$1.32/SF
EGI
$479.4K $27.96/SF
− OpEx
−$215.7K −$12.58/SF
NOI
$263.7K $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 Rate 5%
$5,273,880
Cap Rate 7%
$3,767,057
Cap Rate 9%
$2,929,933
Alternative Uses
Best Use
Apartment 5plus
$3.77M
$3.30M – $4.39M
NOI $263,694 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.70M
$7.61M – $10.15M
NOI $608,922 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,015
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 29-unit multifamily property in Miami Beach available for sale.
Where is this apartment building located?
The property is located at 846 Lenox Avenue and 1333 Meridian Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $7,700,000.
What are key features of this property?
This property features: Multifamily property; 29 Units; Priced at $265,517/unit
