Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7110 Bonita Dr Miami, FL 33141

    • Apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / Gift Shop / Boutique
    • Party City / Party Store / Balloon Store
    • Skunk Funk / Wholesaler / Clothing Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

    Property Details for 7110 Bonita Dr

    Year built
    1958
    Property type
    Apartment buildings
    Property subtype
    Small apartment buildings

    Description

    This exceptional Miami Beach property, located at 7110 Bonita Dr, presents a unique land development opportunity. Currently operating as a 10-unit apartment building, the property's value lies in its significant redevelopment potential. The existing structure, built in 1958 and spanning two stories, is not the focus of this sale. Instead, the offering centers on the property's TC1 zoning designation, allowing for a substantial buildable area of 69,000 square feet across 125 feet of frontage. This zoning permits a wide range of development options, including hotels, micro-unit apartments, or mixed-use projects with ground-floor retail. The asking price is $9,999,000. Given the focus on redevelopment, traditional multifamily investment metrics such as rent roll, NOI, CAP rate, and operating expenses are not being provided, as they are irrelevant to the property's true potential. This is an ideal acquisition for developers and builders seeking a prime waterfront location in Miami Beach to create a high-value project. Serious inquiries only from parties interested in land development are encouraged. The property is situated in Miami-Dade County, Florida, with a zip code of 33141.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1266
    Latitude
    25.8562

    Comparable in this City

    • Value Estimation by Request

      8109 Harding Ave

      Multifamily properties
      8109 Harding Ave, Miami Beach, FL 33141
      View Details
    • Value Estimation by Request

      1754 Marseille Dr

      Multifamily properties
      1754 Marseille Dr, Miami Beach, FL 33141
      View Details
    • Value Estimation by Request
      3,308 SF

      714 84Th St

      Multifamily properties • 3,308 SF
      714 84Th St, Miami Beach, FL 33141
      View Details
    • Value Estimation by Request
      2,767 SF

      2115 Bay Dr

      Multifamily properties • 2,767 SF
      2115 Bay Dr, Miami Beach, FL 33141
      View Details
    • Value Estimation by Request
      3,707 SF

      7320 Carlyle Ave

      Multifamily properties • 3,707 SF
      7320 Carlyle Ave, Miami Beach, FL 33141
      View Details
    • Value Estimation by Request

      7939 East Dr

      Multifamily properties
      7939 East Dr, North Bay Village, FL 33141
      View Details

    Similar Nearby for Sale

    • $2,450,000

      Biscayne Beach Multifamily Investment

      Eight-unit apartment building, prime Miami Beach location.
      8321 Crespi Blvd, Miami, FL 33141
      View Details
    • $1,750,000
      3,707 SF

      Miami Beach Multifamily Investment

      Four-unit renovated apartment building, high ROI.
      7320 Carlyle Ave, Miami Beach, FL 33141
      View Details
    • $17,700,000
      32,532 SF

      Luxury Miami Beach Townhomes

      10 Units, Waterfront, Newly Renovated
      1975 Calais Dr, Miami Beach, FL 33141
      View Details
    • $2,590,000

      Miami Beach Duplex Investment

      Prime location, renovated, 2 units
      8109 Harding Ave, Miami Beach, FL 33141
      View Details
    • $2,250,000

      North Beach Multifamily Investment Opportunity

      Miami Beach 10-unit building near the beach, fully rented.
      790 81St St, Miami, FL 33141
      View Details
    • $4,250,000

      Miami Beach Multifamily Investment Opportunity

      20-unit multifamily property in vibrant Miami Beach neighborhood.
      8021 Abbott Ave, Miami Beach, FL 33141
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo

      Renovated Apartment with Modern Amenities

      Spacious, renovated 1-bedroom apartment with in-unit laundry and modern finishes.
      1935 Marseille Dr, Miami Beach, FL 33141
      View Details
    • $1,850 /Mo

      Normandy Isle Apartment For Rent

      One bedroom plus den apartment in desirable Miami Beach location.
      2021 Bay Dr, Miami Beach, FL 33141
      View Details
    • $1,600 /Mo

      Furnished Studio Near Miami Beach

      Furnished 370 sq ft studio, steps from the beach.
      6498 Collins Ave, Miami Beach, FL 33141
      View Details
    • $1,600 /Mo

      Updated Studio Near Miami Beach

      Spacious, updated studio apartment one block from the ocean.
      7611 Harding Ave, Miami Beach, FL 33141
      View Details
    • $1,600 /Mo

      Miami Beach Apartment For Rent

      One bedroom, one bathroom apartment in a quiet neighborhood.
      8321 Crespi Blvd, Miami Beach, FL 33141
      View Details
    • $1,800 /Mo

      Top Floor Corner Unit

      One-bedroom apartment near the ocean with new appliances.
      6860 Abbott Ave, Miami Beach, FL 33141
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7110 Bonita Dr
    Miami, FL 33141
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.