LOCATION2005-2023 Calais Dr.Miami Beach, FL 33141Normandy Isle

EXISTING PROPERTY10 UNITS9,330 SF

LOT SIZE21,224+ SF0.487+ Acres

ZONINGResidential Multifamily Low Denisity (RM-1)

FAR1.25 (26,530 SF)

ASKING PRICE$4,100,000$193 per land square foot

OFFERING HIGHLIGHTS

• Unique waterfront redevelopment opportunity with in-place cash flow

• Zoned RM-1 with a max FAR of 1.25, allowing for 26,530 SF of developable air-rights

• Currently consists of two fully occupied, one story multifamily buildings totaling 10 units,

spanning 9,330 SF

• Unit mix includes five (5) two-bedroom, four (4) one-bedroom, and one (1) studio

apartments, generating a current $130,360 NOI with upside potential

• Located on Normandy Isle in Miami Beach, with close proximity to Miami’s major

employment centers

OVERVIEW

Continental Real Estate Companies (CREC), as exclusive agent for the Owner, is pleased to

offer for sale the fee simple, unencumbered interest in 2005-2023 Calais Drive (the “Property”),

located in Miami Beach, FL. The Property currently consists of two fully occupied, one story

multifamily buildings totaling 10 residential units, spanning 9,330 SF.

The Property sits on a 21,224 SF lot, including 143 ft. of waterfront space on Normandy

Waterway. The parcel is zoned RM-1, allowing residential construction up to 5 stories, or

a total of 26,530 buildable SF, creating a strong redevelopment opportunity with in place

cash-flow.

2005-2023 Calais Dr. is situated on Normandy Isle in Miami Beach, situated between North

Beach, and the Upper East Side Neighborhood of Miami. The island is intersected by NE

79th street, which grants exceptional access to Biscayne Boulevard, Interstate 95 (I-95,)

and Collins Avenue. The Property’s unique location offers close proximity to the luxuries

of Miami Beach and Miami’s major employment centers, creating a great opportunity for a

potential development site with in place income.

For Sale: 10 Unit Miami Beach Waterfront Multi-Family Property Miami Beach (Normandy Isle), FloridaUnique Waterfront Redevelopment Opportunity With In-Place Income

Although the information contained herein is believed to be correct, Broker and Owner have not independently verified the information contained herein and disclaim any and all responsibil-ity for any inaccuracies. Further, Broker expects prospective purchasers to exercise their own independent due diligence in verifying all supplied and relevant information. No representation or warranty, expressed or implied, is made as to the accuracy or completeness of this Offering or any of its contents, or any other written or oral communication transmitted to a prospective purchaser in the course of its evaluation of the proposed sale of the Property.

CREC2121 Ponce de Leon Boulevard

Suite 1250

Coral Gables, FL 33134

305.854.7342 f: 305.858.6239

www.crec.com

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For Additional Information

Harry BlydenSenior Vice President305.779.3176e: hblyden@crec.com

Warren WeiserChairman / Partner305.854.7342e: wweiser@crec.com

Andrew RemickSenior Vice President305.779.3172e: aremick@crec.com

For Sale: 10 Unit Miami Beach Waterfront Multi-Family PropertyUnique Waterfront Redevelopment Opportunity With In-Place IncomeMiami Beach (Normandy Isle), Florida

Potential Redevelopment