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    FOR SALE
    Apartment buildings

    1975 Calais Dr Miami Beach, FL 33141

    32,532 SF Built 2013
    Property ID
    US18-5311215
    1975 Calais Dr, Miami Beach, FL 33141 For Sale 1 / 28
    $17,700,000 32,532 SF
    1975 Calais Dr, Miami Beach, FL 33141
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    AI-generated overview

    This exceptional investment opportunity presents a meticulously renovated, ten-unit townhome complex in the coveted Miami Beach area, boasting direct access to the Intercostal Waterway. Completed in 2013 and extensively renovated in 2024, this two-building, three-story property offers 32,532 square feet of space, with 21,166 square feet of net rentable area. The property sits on a 17,640 square foot lot, offering ample space and a desirable land value of $1,003 per square foot. Each of the ten units includes twenty parking spaces. Currently 100% vacant, the property is poised for immediate occupancy, with a projected occupancy date of December 31, 2024. The property features new flooring, bathrooms, kitchen cabinets, and appliances throughout. The current NOI is $799,398, resulting in a 4.52% cap rate. The asking price is $17,700,000, or $1,770,000 per unit. Construction of eight boat slips is currently underway, adding significant value to this already impressive waterfront property. Seller financing is available.

    Property profile
    Verified
    Property type Apartment buildings
    Year built 2013
    Total area 32,532 SF
    UPID US18-5311215
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
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