901 Pennsylvania Ave.

Reposition apartments, quarterly income grows

South Beach mixed-use corner: 6 apartments plus 4 retail units on a 7,500 sqft lot.

Value-add strategy on a mixed-use building at 901 Pennsylvania Avenue in Miami Beach, Florida, within the South Beach core. The 1948 structure totals 7,266 square feet on a 7,500-sqft corner lot and comprises six residential apartments and four ground-level retail units. The mixed-use configuration creates two distinct repositioning tracks: residential unit modernization with rent progression on the upper floors, and retail re-leasing or tenant repositioning on the ground floor into the South Beach core's retail comparable set. The corner lot supports retail visibility and foot traffic, which is central to the ground-floor strategy. Est. basis at approximately 2.8 million dollars (Zestimate reference) reflects the mixed-use configuration, the corner lot, and South Beach core positioning. The value-add thesis underwrites both residential and retail uplift, with operational management across the two tenant bases as an execution requirement. Hold duration is expected to span renovation, releasing, stabilization, and a hold-for-yield window, with optional disposition or refinance on stabilization. Capital deployment covers residential unit renovation, retail build-out allowances or re-leasing capital, exterior and systems updates as required for the 1948 structure, and operational positioning across both tenant classes. Returns are targeted from the combined NOI uplift (residential plus retail) and the valuation effect at stabilization in a submarket where mixed-use corner inventory is in constrained supply.

Address

901 Pennsylvania Ave.

City

Miami Beach, FL

ZIP

33139

Beds

0

Baths

0

Living sqft

7,266

Lot sqft

7,500

Year built

1948

Waterfront

NONE

Value-add economics model using acquisition basis, improvement envelope, maturity, and downside/upside stabilized-value scenarios. Detailed sponsor line items are shown when a full proforma is available.

Source: strategy economics model · figures are forward-looking estimates · not a guarantee of return