Miami Beach Multifamily
846 Lenox Avenue and 1333 Meridian Avenue, Miami Beach, FL 33139
For Sale
Contact for pricing
29-unit multifamily property in Miami Beach available for sale.
Property Size17,146 SF
Price / SF$449.08
Days on Market259
Property Features for 846 Lenox Avenue and 1333 Meridian Avenue
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Zoning
Occupancy
Investment Type
Building Details
Year Built
Buildings
Stories
Units
Listing Agency:
Coldwell Banker Realty
Listed By:
Rosy Cancela · License FL #0574234
(305) 342-7442
Source:
Crexi
Added: Mar 2
Changed: Nov 1
Last Checked: Nov 14 at 6:09AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
$266,066
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,321,320
$5.3M
Cap Rate 7%
$3,800,943
$3.8M
Cap Rate 9%
$2,956,289
$3.0M
Market Conditions
NOI Build-Up for 17,146 SF
Gross rent
$518.5K $30.24/SF
− Vacancy
−$34.7K −$2.03/SF
EGI
$483.8K $28.21/SF
− OpEx
−$217.7K −$12.70/SF
NOI
$266.1K $15.52/SF
Area
Miami-Dade County, FL
Vacancy
6.70%
Lease Rate
$30.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,321,320
Cap Rate 7%
$3,800,943
Cap Rate 9%
$2,956,289
Alternative Uses
Best Use
Apartment 5plus
$3.80M
$3.33M – $4.43M
NOI $266,066 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.36M
$8.19M – $10.92M
NOI $655,411 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
6,015
Businesses Nearby
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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
$480,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Miami Beach, FL
Properties on Market for Apartment buildings in Miami Beach
Vacancy Rate% for Multifamily in South region
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
