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    2811 Indian Creek Dr Miami Beach, FL 33140

    For Sale
    $2,199,000

    Miami Beach waterfront triplex, high rental income.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional multifamily investment property, located at 2811 Indian Creek Dr, Miami Beach, FL 33140, presents a compelling value-add opportunity. The property, a two-story, Class B building constructed in 1932 and renovated in 1995, comprises three units within a single building on a 4,500 sq ft waterfront lot. With a total net rentable area of 3,000 sq ft, the asking price is $2,199,000, translating to $733,000 per unit. The property boasts a 4.80% cap rate and benefits from its prime location in the booming Faena Arts District, just one block from the ocean. The area is characterized by a very expensive rental market, surrounded by hotels, shopping, and restaurants. The property is conveniently situated on the free trolley route. The permitted zoning is RM-2. The property's waterfront location and proximity to amenities offer significant upside potential for future rental income. The current leases are in place for one year. APN: 02-3226-001-0990.

    Property Features for 2811 Indian Creek Dr

    General Information

    Property type
    Multifamily properties
    Class
    B

    Building Details

    Year Built/Renovated
    1932/1995
    Buildings
    1
    Stories
    2
    Units
    3

    HighLights

    • Significant value‑add opportunity.
    • One block to the ocean.
    • High‑rent, hotel‑dense neighborhood.
    • Includes waterfront parcel.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1263056
    Latitude
    25.8049714

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    FAQs

    What type of property is this?
    Multifamily property - Miami Beach waterfront triplex, high rental income.
    Where is this multifamily property located?
    The property is located at 2811 Indian Creek Dr Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $2,199,000.
    What are key features of this property?
    This property features: Significant value-add opportunity.; One block to the ocean.; High-rent, hotel-dense neighborhood.
    Request Owner's contact information
    2811 Indian Creek Dr Miami Beach, FL 33140
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    Miami Beach, FL 33140
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2811 Indian Creek Dr Miami Beach, FL 33140
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