Home » Properties » 1485 Bay Rd, Miami Beach FL 33139

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Prime Multifamily Flex Space at 1485 Bay Rd Miami Beach

Rare South Beach multifamily flex space with 8 units on a prime corner across Flamingo South Beach. Ideal redevelopment potential.

$3,499,000

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MLS #A11899562

Listing Updated: 2026-07-25 00:25:42

Listed By: One Sotheby's International Realty

Overview

This premier multifamily flex space located at 1485 Bay Rd in Miami Beach offers a unique opportunity to acquire an eight-unit building in a highly sought-after South Beach location. Built in 1947, the property stands on a prime corner directly opposite the iconic Flamingo South Beach, providing exceptional visibility and a prestigious address. The building is well-maintained and poised for redevelopment, surrounded by luxury condominiums such as Monad Terrace. Bay Road is one of South Beach’s most desirable residential corridors, making this property a notable asset for buyers interested in flexible commercial and residential use in a dynamic urban setting.

Property Highlights

Prime corner location with 8 units | Across from Flamingo South Beach | Well-maintained building | Redevelopment potential | Located on Bay Road, a top South Beach corridor

Property Details

City: Miami Beach

State: FL

Zip Code: 33139

Address: 1485 Bay Rd, Miami Beach FL 33139

Year Built: 1947

Property Type: Commercial Sale

Property Sub Type: Flex Space

Listing Office Name: One Sotheby's International Realty

County: Miami-Dade County

Garage Spaces:

Parking Features:

Interior Features:

Exterior Features:

Waterfront: No

Pool: No

HOA Fee: $0

Annual Tax: $31,402

Days On Market: 228 Days

Original Listing Description

Premier South Beach Multifamily Investment Opportunity. Prime Corner Location | 8 Total Units | Redevelopment Potential. Presenting a rare opportunity to acquire a well-maintained eight-unit multifamily building in one of South Beach's most coveted locations. Situated on the prime corner of Bay Road directly across from the iconic Flamingo South Beach, this property offers exceptional visibility and an enviable address in the heart of Miami Beach's most dynamic neighborhood. Nearby luxury residential includes the Monad Terrace condominiums and several others. This premier corner parcel benefits from maximum exposure on Bay Road, one of South Beach's most desirable residential corridors.

Property Location

Explore the surrounding area, nearby amenities, and neighborhood access for this property.

1485 Bay Rd, Miami Beach FL 33139

About This Neighborhood

Located in the heart of South Beach, this property benefits from a vibrant and dynamic neighborhood known for its cultural attractions, upscale residences, and lively atmosphere. Bay Road is a key residential corridor with easy access to Miami Beach’s famous beaches, dining, and entertainment venues. The area is favored for its walkability and proximity to luxury developments like Monad Terrace, creating a desirable environment for residents and visitors alike.

Walkability & Lifestyle

The property’s location on Bay Road places it within walking distance of numerous restaurants, shops, and entertainment options. Residents and visitors can enjoy easy access to Miami Beach’s beaches, waterfront parks, and vibrant nightlife. The neighborhood’s walkability enhances everyday convenience and supports an active lifestyle.

Things To Do Nearby

South Beach is renowned for its diverse recreational and cultural activities. Nearby attractions include beachfront lounging, boating, dining at world-class restaurants, and exploring art galleries. The area also offers nightlife venues, outdoor parks, and marinas, providing a rich variety of options for residents and visitors to enjoy.

Nearby Schools

Miami Beach offers access to a range of educational institutions, including public and private schools serving the local community. Families considering this area benefit from convenient school options within reasonable commuting distance, supporting a balanced lifestyle that combines urban living with educational accessibility.

Why Buyers Like This Area

Buyers appreciate this property for its prime corner location, flexible use, and proximity to South Beach’s key attractions. The combination of a well-maintained building and redevelopment potential makes it appealing for those seeking a versatile asset in a prestigious Miami Beach neighborhood. Its visibility and accessibility on Bay Road enhance its desirability among a broad range of buyers.

Investment Potential

This multifamily flex space in South Beach offers a versatile opportunity for investors interested in a well-located property with redevelopment potential. The prime corner location on Bay Road ensures high visibility and appeal, attracting a range of potential tenants or buyers. The proximity to luxury condominiums and vibrant neighborhood amenities supports sustained demand. While the property is suitable for commercial or residential use, its flexibility allows investors to explore various redevelopment or leasing strategies aligned with market trends in Miami Beach.

Market Trends

Miami Beach’s real estate market remains attractive due to its unique coastal location and strong demand for multifamily and flexible commercial spaces. Properties on Bay Road enjoy consistent interest given their strategic position within South Beach’s residential and tourism hubs. The market shows a steady appetite for redevelopment projects and well-maintained buildings that can adapt to evolving lifestyle and business needs, making this multifamily flex space a relevant offering.

Rental Income Potential

The property’s location and configuration make it appealing for rental purposes, attracting tenants seeking proximity to South Beach’s amenities and iconic landmarks. Seasonal demand and year-round interest from professionals and visitors contribute to its rental appeal. The flexibility of the space allows for diverse tenant profiles, enhancing usability and occupancy potential in a competitive rental market.