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8260 Byron Avenue
Miami Beach
8260 Byron Avenue
Miami Beach
2019
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OCEAN BAY
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THE PERFECT PLACE TO LIVE
15 MINUTES TO SOUTH BEACH!
20 MINUTES TO DOWNTOWN!
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THE PERFECT PLACE TO LIVE
5 MINUTE WALK TO THE BEACH!
1 MILE TO BAL HARBOUR!
Take advantage of multitudes of public and private investments just beginning today in North Beach,
Miami Beach and ride the wave of growth! North Beach has $90M in public improvements committed thru
2019 and another $98M coming over the next 10 years. Additionally, the new North Beach Town Center – just
one mile away - with $80M+ spent in private land development, breaks ground Q4 2019!
Located on 75’ of waterfront, walkable to the beach & 36-acre North Beach Oceanside Park, this highly
desirable 20-unit multi-family investment building, Ocean Bay, is the ideal asset. All residences are fully
renovated featuring all new high-impact windows, SS appliances, flooring, quartz countertops, A/C units &
modern open floorplans. New plumbing, electrical & mechanical, new roof, new gates, new fire alarm
systems, new laundry facilities, and a completed 40-year certification make this investment an easy choice!
Building includes a rare opportunity w/4-units licensed for short-term/hotel use & 4 rentable storage units.
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THE PLACELocation, Location, Location!
• 75 Feet of Waterfront!
• Fully renovated interior & exterior! Total investment of $850,000!
• All residences feature:
• New Impact Windows
• New Stainless-Steel Appliances
• New Flooring
• New Quartz Countertops
• New A/C Units
• New Plumbing
• New Electrical
• New Mechanical
• New Roof
• New Security Gates
• New Fire Alarm System
• New Laundry Facilities
• 40 Year Certification Complete!
• RARE OPPORTUNITY -> 4-units licensed for short-term/hotel use!
• Additional Income Opportunity – 4 Rentable Storage Units
• Best time to invest in North Beach –$90M in public projects committed thru
2019!
• Location! Location! Location!
• Walkable to the beach, 36-acre North Beach Oceanside Park & soon-to-be Altos
Del Mar Park!
• Only 1 mile to the new North Beach Town Center with approximately $80M spent
on land development already! Breaks ground Q4 2019!
• Easy access to great schools, shops and restaurants!
• Free trolley and plentiful bike lanes make transportation easy and affordable!
WHY OCEAN BAY?
UNITS 20
FLOORS2
YEARBUILT 1946
SQUARE FOOTAGE 10,416
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5
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75 FEET OF WATERFRONT
WITH COURTYARDS AND
PICNIC TABLES
STORAGE & ON-SITE
LAUNDRY!
STRONG RENTALDEMAND!
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ALL IMPACT WINDOWS!
OPEN FLOOR PLANS!
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OPEN SHELVING &
DOUBLE SINKS
RENOVATED KITCHENS
& BATHS!
QUARTZ COUNTERTOPS
AND STAINLESS-STEEL
APPLIANCES
SUBWAY TILES
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WELCOMING, COLORFUL
FRONT DOORS
TRENDY ROLLING BARN
DOORS
LARGE ADJUSTABLE
CLOSETS
BEAUTIFUL FLOORING!
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10 CHARM
COMMUNITY
CONVENIENCE
With easy access to the bay, invest in a boat dock to increase revenues. This unique offering will
keep long-term tenants and attract higher rents overall. Small investment – big payoff!
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ADD - VALUEHere in the Venice of South Florida, everyone needs a place to park their boat.
POTENTIAL IMPROVEMENTS
UNIT TYPE RENT MARKET
1 STUDIO $1,350 $1,391
2 SHORT TERM $1,500 $1,545
3 STUDIO $1,325 $1,365
4 STUDIO $1,235 $1,272
5 STUDIO $1,275 $1,313
6 STUDIO $1,300 $1,339
7 STUDIO $1,300 $1,339
8 STUDIO $1,325 $1,365
9 STUDIO $1,225 $1,262
10 SHORT TERM $1,500 $1,545
11 SHORT TERM $1,500 $1,545
12 1BD/2BA $1,580 $1,627
13 STUDIO $1,300 $1,339
14 STUDIO $1,300 $1,339
15 STUDIO $1,325 $1,365
16 STUDIO $1,325 $1,365
17 STUDIO $1,250 $1,288
18 STUDIO $1,325 $1,365
19 STUDIO $1,325 $1,365
20 SHORT TERM $1,500 $1,545
Storage Units x4 $30 $190
Total $27,095 $28,067
Rent Increase to
Market Rates
3.6%
**INFORMATION IS BELIEVED ACCURATE BUT IS NOT WARRANTED**
UNIT MIX
1BD/2BA: 1
STUDIO: 15
SHORT TERM:4
TOTAL: 20
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UNIT MIX &RENT ROLL
FINANCIAL SUMMARY
NET INCOME CURRENT MARKET
ANNUAL GROSS
RENT$324,420 $336,057
TOTAL EXPENSES $92,987 $92,987
NOI $231,443 $243,070
LIST PRICE $3,950,000 $3,950,000
CAP 5.86% 6.15%
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COMPARABLE SALES
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ADDRESS # OF UNITS SALES PRICE STATUS PRICE/SQ.FT
8260 BYRON AVENUE
20 $3,950,000 ACTIVE $379.22
8215-8221 HARDING AVENUE
30 $5,500,000 ACTIVE $436.92
8210-8220 BYRON
AVENUE24 $4,500,000 ACTIVE $417.25
924 MARSEILLE DRIVE
18 $4,750,000 ACTIVE $434.50
650 72ND
STREET 15 $4,800,000 SOLD $447.89
610 74TH STREET
16 $3,137,500 SOLD $363.39
7125 CARLYLE AVENUE
12 $2,800,000 SOLD $523.76
This northern stretch of Miami
Beach is the lastunderdeveloped
section of the city and it is
surrounded by the most well-
established and thriving
economic engines
of South Florida.
NORTH BEACH
Several incredible
local schools,
restaurants and
parks giveresidents
an idylliclife.”
Current private and public investment growth in North Beach
and a shrinking housing supply create the best time for
investment NOW! These investments drive the economy creating
more employment opportunity and increasing the tax base for
more investments in the local community thus, creating a richer
quality of life for all North Beach residents and a higher demand
for housing. Nestled at the core of the most established and
fastest growing neighborhoods in America, North Beach is
attracting a more upscale demographic in line with the
surrounding neighborhoods.
Several incredible local schools, churches restaurants and
parks give residents an idyllic life. The free trolley and plentiful
bike lanes make transportation easy and affordable. Residents
bursting with pride for North Beach give back to their
neighborhood with beach clean-ups, enjoy the weekly Normandy
Village Farmer’s Market and attend regular events at the North
Beach Bandshell Amphitheater! North Beach is poised to become
the epicenter of growth in Miami Beach for the next 20 years
with $90M in public projects already committed thru 2019 and an
additional $64M coming over next 10 years.
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NORTH BEACH ZONING
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WHY NORTH BEACH?
North Beach Rental and Sales Market Statistics
• ZERO new entry level rentals are forecasted in the North Beach Market• Entire Miami Market Vacancy Rate: 5.7% vs. North Beach Submarket Vacancy Rate:
3.8%
• 96% Occupancy Rate!
• Q1 2019–Studio Apt Rent Avg = $1,174/month
• Q1 2019-1 Bedroom Apt Rent Avg = $1,315/month
• Q1 2019-2 Bedroom Apt Rent Avg = $1,676/month
• 2018 Avg Multi Family Sale Price/Sq.Ft. in North Beach was 25% less than South
Beach!
• 2018 Avg Price of Single-Family Home Sales = $2.7M
• 2018 Avg Price of Condo Sales = $523,000
North Beach Location & Public InvestmentStatistics
• North Beach public projects planned/completed over last 6
years totaling $54M!
• 2019-2030 G.O.Bond plan has allocated almost $134M to
North Beach!
• 3% population growth forecasted through 2024 in North
Beach!
• High Walkability Score:76!
• 3.3 miles to the key tourist destination, South Beach
• 1 mile to prestigious Bal Harbour
• 11.4miles to Downtown, Miami
• 13.6 miles to Miami International Airport
*Data from MLS, Costar: May 2019, U.S. Census Bureau, and City of Miami Beach*
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NORTH BEACH PUBLIC FUTURE INVESTMENTS
Two. More Mobility Options – Safe,
comfortable, interesting, and beautiful
streets with wider sidewalks, world-class
bike infrastructure, shade trees for
sidewalks, better lighting, and buried or
relocatedoverheadutilities.
Three. Protect & Enhance Neighborhoods
– Preservation is the soundest long-term
economic development strategy. New
construction should occur in vacant or
underutilized spaces and complement the
existing buildings.
The Miami Beach City Commission
unanimously approved a master plan for the
city’s North Beach neighborhood, which
stretches from 63rd Street to 87th Street.
Five. Improve Protection – Improving its
ability todealwithsea levelriseand
climatechangeby upgrading all
infrastructure to new standards.
PLAN NOBESTATS
108 NEWPEDESTRIAN
CROSSINGS
6.41MILES OF NEW BIKEWAYS
7 MILES OF NEW TRANSIT
LANES
3.7 FEET OFSTREET RISING
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One. Make A Town Center – Vibrant, dynamic,
compact, pedestrian –friendly and with a mix of
uses to ensure a pedestrian experience that is
welcomingand interesting
Four.Maximize Public Lands Utility and utilize
its properties to support the surrounding
community and attract new investment
The plan developed by planners Dover Kohl,
offers a set of 5 Big Ideas proposed to
encourage the growth of the North Beach
Community. These five consensus ideas
provided an outline for Plan NoBe
AREA PUBLICDEVELOPMENTS
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ADDRESS / NAME OF PROPERTY
DETAILS
OCEAN TERRACE
Early discussion stages: Repurposing beach front
property for pedestrian friendly walkways, public plaza, shade
structures, dinning terraces volleyball courts, etc.
ALTOS DEL MAR PARK
Under construction: Approx. $5 Million investment into 76th
Street & Collins Avenue. A 5-acre ocean front park,
restrooms, volleyball courts, and an open field overlooking
the ocean.
NORTH BEACH OCEANSIDE PARK
2019 – 2020 - $10.66 Million of improvements. 79th Street to 87th Street. New pathways,
lighting, entry gates, and the completion of the existing
beach walk.
RUE VENDOME PLAZA
2019 – 2020 – Open Plaza, activation and programming,
pedestrian friendly, shade trees and lighting.
72ND STREET LOT
2019 -2022 - $53.8 Million investment in the approval
stages: Park, Library & Aquatic Center. Converts parking lot
into mixed use new recreational park space,
rooftop competition pool, library & media center, fitness
gym with running track, & parking garage.
AREA RESIDENTIAL
AND MIXED-USE DEVELOPMENTS
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PROPERTY UNITS SQ. FT. FLOORS STAGEMORE
DETAILS
8421 – 8427 CRESPI BLVD:“Nobe Marina”
16 15,813 5 COMPLETEDNew construction. Luxury residential.
7925 – 7935CRESPI BLVD:“NOBE ISLAND”
14 14,335 4 APPROVEDNew construction. Luxury residential.
8701 COLLINSAVENUE: “EIGHT SEVEN PARK”
64 202,173 20UNDER
CONSTRUCTION –FINAL STAGES
New construction. Luxury residential.
6800INDIAN CREEK:“MONACO YACHT CLUB”
30 95,420 12APPROVED New construction.
Luxury residential.
756 84TH STREET: “THE EIGHTY 4”
4 7,029 5APPROVED New construction.
Luxury residential.
68TH & COLLINS:“L’ATELIER’
23 40,250 18COMPLETED New construction.
Luxury residential.
7400 OCEAN TERRACE
136 202,521 22APPROVED
Entire city block: 202,521 total sq. ft of unified site. Includes 78 hotel units in 16 story hotel tower & 58
residential units in 22 story tower. Retail &
restaurant space as well.
7140 COLLINS AVENUE
211 174,200 11APPROVED 187 hotel rooms,
24 residential units, 28,000sq ft. of retail
“With a combined team experience and
commitment to North Beach ofover 200
years…”ABOUT US
Urban Resource is the premier
expert for North Beach real
estate! Brother-sister founders,
Daniel and Laura Veitia, who live
and work in North Beach can
provide you with real estate
knowledge as a resident, investor,
and business owner in the area.
Dedicated to their customer and
supporting the growth of the
neighborhood, Urban Resource’s
team of highly trained and
licensed real estate professionals
are reliable andresponsive.
Additionally, as the largest
property management company
in North Beach with 100+
buildings under management,
Urban Resource’s success and
reputation are the direct result
of the relationships built with
their owners, residents and
local North Beach community.
A hands-on approach and
honest assessments exceed
customer expectations by
adding value at every step.
CONTACTINFORMATION
LAURA VEITIA
BROKER & VICE PRESIDENT
305.403.8686
www.urbanresource.com