2822 Pine Tree Dr, Miami Beach FL 33140,Miami Beach,Miami-Dade County,Commercial Sale

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Commercial Sale Active

2822 Pine Tree Dr, Miami Beach FL 33140

$4,200,000

Overview

Income/MultiFamily
Property Type

1935
Year Built

Description

Comprising 12 operating units, Noble Pine Tree Apartments offers a unique investment opportunity for an investor looking to break into the Mid-Beach market. All operating units are fully-renovated and a majority of the apartments have new in-unit washer/dryers. The property consists of (1) two-bedrooms, (5) one-bedrooms and (6) studios. The average in-place rent per-unit stands at $2,175. The property consists of 12 operating units; however, it was built as 8 legal/conforming units. The property has undergone significant renovations over the years including new modern cabinetry, updated appliances, modern-tile flooring, new vanities, lighting, counter tops and kitchenettes (in select units).

In-Place NOI: $232,202
In-Place Cap Rate: 5.4%

Address

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Address Pine Tree Dr
City Miami Beach
State/county Miami-Dade County
Zip/Postal Code 33140

Details

Updated on March 25, 2025 at 8:22 pm

Property ID: A11672674
Price: $4,200,000
Year Built: 1935
Property Type: Income/MultiFamily
Property Status: Commercial Sale

Additional details

PublicSurveyRange: 32
ListAgentKey: 5f6a2415d801b9a45a3a8d2199460ffe
TaxLegalDescription: FAIRGREEN R/S BLKS C-D-E PB 4-154 LT 12 LESS BEG NW COR LT 11 N 14.43FTSE TO NE COR LT 11 WALG N/ L LT 11 TO POB BLK D LOT SIZE 60.000 X 143
OnMarketDate: 2024-10-07
ListAgentEmail: [email protected]
ContractStatusChangeDate: 2024-10-07
MajorChangeTimestamp: 2025-03-25T17:47:57.380Z
PhotosCount: 31
StatusChangeTimestamp: 2024-10-07T18:54:49.817Z
PriceChangeTimestamp: 2025-03-25T17:47:57.380Z
ListingKeyNumeric: 401859186
MajorChangeType: Price Decrease
ListingContractDate: 2024-10-07
Zoning: 3900
ListAOR: A-Miami Association of REALTORS
TaxAnnualAmount: 33700
ListOfficeName: STL Advisors, LLC
CurrentUse: Income Non-Waterfront
OriginatingSystemKey: miamire
BusinessType: Residential-Multi-Family
PhotosChangeTimestamp: 2024-10-07T19:08:48.819Z
OriginatingSystemName: Miami Association of REALTORS®
ListOfficePhone: 561-901-1402
MlsStatus: Active
StreetNumber: 2822
ListingKey: 0fe3633ee71b21f5c5675d3ad6e2653e
StateOrProvince: FL
ListOfficeKey: c2a3a3f26a1d25064da01343ceaade3e
BridgeModificationTimestamp: 2025-03-25T17:51:53.732Z
ListAgentFullName: Max Loria
ListAgentOfficePhone: 561-901-1402
Stories: 2
ParcelNumber: 02-32-27-004-0220
OtherExpense: 0
IDXParticipationYN: 1
InternetAddressDisplayYN: 1
ListAgentMlsId: 3455922
StoriesTotal: 2
ModificationTimestamp: 2025-03-25T17:47:57.380Z
OriginatingSystemID: miamire
PreviousListPrice: 4300000
DaysOnMarket: 169
NetOperatingIncome: 232202
ListOfficeMlsId: STLA01
ListAgentDirectPhone: 561-901-1402
StreetNumberNumeric: 2822
PostalCodePlus4: 4379
NumberOfUnitsInCommunity: 12
SyndicationRemarks: Comprising 12 operating units, Noble Pine Tree Apartments offers a unique investment opportunity for an investor looking to break into the Mid-Beach market. All operating units are fully-renovated and a majority of the apartments have new in-unit washer/dryers. The property consists of (1) two-bedrooms, (5) one-bedrooms and (6) studios. The average in-place rent per-unit stands at $2,175. The property consists of 12 operating units; however, it was built as 8 legal/conforming units. The property has undergone significant renovations over the years including new modern cabinetry, updated appliances, modern-tile flooring, new vanities, lighting, counter tops and kitchenettes (in select units). In-Place NOI: $232,202 In-Place Cap Rate: 5.4%
ListAgentStateLicense: 3455922
PublicSurveyTownship: 32
StreetName: Pine Tree Dr
ListingAgreement: Exclusive Agency
PublicSurveySection: 27
SpecialListingConditions: Sale
NumberOfBuildings: 2
OriginalListPrice: 4400000
BuildingAreaUnits: Square Feet
InternetEntireListingDisplayYN: 1
OriginalEntryTimestamp: 2024-10-07T18:54:49.817Z
SourceSystemKey: 401859186
LotSizeSquareFeet: 8580
BuildingAreaTotal: 5983