901 Pennsylvania Ave - Apartments FOR SALE


Miami Beach, FL 33139- Flamingo
$3,799,000 USD
305-645-1164
901 Pennsylvania Ave, Miami Beach, FL for Sale
$3,799,000 USD
Apartments - FOR SALE
1/52
null | Request Cap Rate

901 Pennsylvania Ave
Miami Beach, FL 33139
Flamingo


HIGHLIGHTS

  • Value-Add Angles: Lease-up vacancies, push rents to market, potential facade/retail repositioning
  • Rare Entitlement: Legacy retail use in R-O zone — not typically permitted
  • Recent CapEx: Full roof replacement (2023), new AC units, exterior paint, landscaping

OVERVIEW

901 Pennsylvania Avenue is a two-story, free-standing mixed-use asset in the heart of South Beach at Pennsylvania Ave & 9th Street, with visibility from Washington Avenue and direct adjacency to a City-owned public parking lot. The building totals 10 units: six 1BR/1BA residential apartments upstairs and four ground-floor commercial suites (two corner-oriented and two interior). A landscaped courtyard frontage enhances curb appeal and tenant experience, while the location supports durable mixed-use demand from both local and tourist-driven traffic. The property is zoned RO (Residential/Office) (residential + office permitted), and it also benefits from a current Certificate of Use allowing Retail Sales—a meaningful differentiator within RO (buyer to independently verify transferability/continued validity).

FOR SALE DETAILS

PRICE

$3,799,000 USD

PRICE/SF

$514 USD /SF

# OF UNITS

10

PRICE/UNIT

$379,900

CAP RATE

Request Cap Rate

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

RO

APN/PARCEL ID

02-4203-009-0220

ASK ABOUT THIS PROPERTY

Juan SotolongoCompass CommercialMore Info
305-645-1164

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Juan SotolongoCompass CommercialMore Info
305-645-1164

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.