7825 Harding Ave – 8-Unit Multifamily

7825 Harding Ave is an 8 Unit Short-Term Rental/Lodging enabled property in North Beach with potential to become something brand new. It currently has four one bedrooms, one bath and four large studios. The true value of 7825 Harding Ave lies in its strategic location adjacent to the 235 78th St, also known as the Jerric Apts, a renowned MiMo architectural gem. Combining these properties creates over 22,000 square feet of prime land, opening doors for the development of a luxurious hotel in this highly sought-after location.

Miami Beach strictly regulates short-term rentals, but this site provides one of the exceedingly rare opportunities to operate a fully legal and zoned short-term rental, AirBNB, for lodging use. The North Beach CRA is offering various initiatives and grants to facilitate property improvements, and the City of Miami Beach is offering tax incentives for historic preservation as well. North Beach is a hidden gem surrounded by upscale Bal Harbor to the north, North Bay Village to the west and world famous South Beach to the south. It has all the amenities of the beach, stunning architecture, and excitement, while retaining an element of affordability.

Although the area is still far from its full potential, it has already attracted big-name illustrious developers such as Optimum Development USA with the recently completed Monaco Yacht Club and Residence, Galbut, Cohen, Lefferts, Shcer, Finvarb, Mehrabi, and Blavatnik, with 600 condos, 100+ apartments, and retail in progress. Get in now while values are still manageable and before they reach dizzying heights. Short-Term Rental operation, without any significant renovations, can yield over $900k/yr NOI, while a more intensive lux hotel re-positioning can easily yield double that figure.

Tony Saladrigas of Fausto Commercial represents this offering. Please contact us for additional information or to arrange a tour.