Listed by Compass Florida LLC
$3,450,000
901 Pennsylvania | Mixed Use Apartments + Retail/Office
Details
APN 02-42-03-009-0220
Property Type Multifamily, Mixed Use
Sub Type Traditional Office, Storefront
Square Footage 7,387
Units 10
Tenancy Multi
Lease Type Net
Pro-Forma Cap Rate 5.74%
Pro-Forma NOI $197,970
Price per SqFt $467
Class B
Year Built 1948
Buildings 1
Stories 2
Lot Size (SqFt) 7,500
Zoning RO
Investment Type Value Add
Ground Lease No
Multifamily | 10 Units | $349,900/unit
Marketing description
Introducing 901 PENN, a prime South Beach investment on a 7,500 SF corner lot at Pennsylvania Ave & 9th St. This mixed-use property features six (6) apartments & four (4) ground-floor retail/office units with Washington Ave visibility, ensuring strong tenant demand. A stabilized income-generating asset offering multiple investment strategies, including retail repositioning, owner-user occupancy, or redevelopment potential. Recent capital improvements—new roof (2023), exterior paint, AC units, & more. Positioned in a high-foot-traffic area, surrounded by hotels, restaurants, shopping, and nightlife, 901 PENN benefits from unbeatable exposure and walkability. With strong rental income and scheduled increases, this is a lucrative Miami investment in a world-class destination.
Investment highlights
Location: Prime South Beach corner with strong foot traffic and nearby public parking.
Zoning: RO with active Retail Sales CU (verify transferability).
Capex: New roof (2023); exterior paint & landscaping (2024); minor items planned.
Upside: Vacancies drive lift from $153k → $305k rent and $42k → $198k NOI.
Listing Contacts
Listed by Compass Florida LLC
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