16-Unit Apartment
For Sale
$2,650,000
944 Jefferson Avenue, Miami Beach, FL 33139
Studio apartments feature separate kitchens and walk-in closets.
Property Size6,722 SF
Lot Size0.16 Acres
Price / SF$394.23
Days on Market2605
Property Features for 944 Jefferson Avenue
General Information
Standard status
Active
Size
6,722 SF
Lot size
0.16 Acres
Property subtype
Commercial/Industrial / Income/Multi Family
Units
Unit Mix
16 x studio
Multifamily Units
16
Taxes and HOA fees
Annual Taxes
$37,457
Building Details
Year Built
1957
Buildings
1
Listing Agency:
Miami Beach Real Estate Group
Listed By:
Gerardo Rodriguez · License #3243634
(305) 787-4798
Source:
Compass
Added: Sep 14, 2019
Changed: Oct 29
Last Checked: Oct 30 at 4:48PM
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 Miami Beach Real Estate Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 16-unit apartment building contains studio units with separate kitchens and walk-in closets. The property includes 6,722 SF of building area on a 7,000 SF lot and was built in 1957.
The property is in South Beach, one block from Flamingo Park and five blocks from the beach and Lincoln Road.
The property is in South Beach, one block from Flamingo Park and five blocks from the beach and Lincoln Road.
Key Highlights
- 16 studio units
- Separate kitchens and walk‑in closets in the studio units
- 6,722 SF building on a 7,000 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,380
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,067,600
$2.1M
Cap Rate 7%
$1,476,857
$1.5M
Cap Rate 9%
$1,148,667
$1.1M
Market Conditions
NOI Build-Up for 6,722 SF
Gross rent
$196.8K $29.28/SF
− Vacancy
−$8.9K −$1.32/SF
EGI
$188.0K $27.96/SF
− OpEx
−$84.6K −$12.58/SF
NOI
$103.4K $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%
$2,067,600
Cap Rate 7%
$1,476,857
Cap Rate 9%
$1,148,667
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,380 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.41M
$2.98M – $3.98M
NOI $238,725 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
6,044
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Studio apartments feature separate kitchens and walk-in closets.
Where is this apartment building located?
The property is located at 944 Jefferson Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 16 studio units; Separate kitchens and walk‑in closets in the studio units; 6,722 SF building on a 7,000 SF lot
