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Waterfront Multifamily Lot for Sale in Miami Beach

Rare waterfront multifamily lot in Miami Beach's growing North Bay Village area offers steady income and development potential.

$4,999,999

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MLS #A11657763

Listing Updated: 2026-06-27 18:28:18

Listed By: Beachfront Realty Inc

Overview

This waterfront lot at 2140 Bay Dr in Miami Beach presents a unique opportunity for developers and investors. Situated in an emerging neighborhood with substantial recent land acquisitions, the property offers 8,959 square feet along 60 feet of waterfront. Currently housing five multifamily units generating steady income, it’s positioned in a fast-growing market suited for luxury residential development. Buyers can also explore adjacent lots for expanded projects and take advantage of proximity to North Bay Village and the vibrant lifestyle of Miami Beach.

Property Highlights

Prime waterfront location with steady income from existing multifamily units. Situated in a rapidly growing Miami Beach area ideal for luxury development. Adjacent lots available for larger investment opportunities.

Property Details

City: Miami Beach

State: FL

Zip Code: 33141

Address: 2140 Bay Dr, Miami Beach FL 33141

Year Built:

Property Type: Commercial Sale

Property Sub Type: Income/MultiFamily

Listing Office Name: Beachfront Realty Inc

County: Miami-Dade County

Garage Spaces:

Parking Features:

Interior Features:

Exterior Features:

Waterfront: Yes

Pool: No

HOA Fee: $0

Annual Tax: $22,467

Days On Market: 633 Days

Original Listing Description

OPPORTUNITY FOR DEVELOPERS! WATERFRONT lot in front of North Bay Village. A unique opportunity to acquire land to build luxury units in the fastest growing area of Miami Beach, where developers spent $143.5 million on land acquisitions, to build around 3,000 new condos and apartments. The land has 8,959 sqft. Currently there is 5 units multifamily generating stady income. 60 ft on the water. 2130 BAY DRIVE IS ALSO AVAILABLE, BOTH LOTS ARE 17918 SQFT IN TOTAL AND ALLOWS BIGGER DEVELOPEMENTS.

Property Location

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

2140 Bay Dr, Miami Beach FL 33141

About This Neighborhood

Located in Miami Beach’s desirable North Bay Village area, this property enjoys a waterfront setting with access to a lively, evolving neighborhood. Residents appreciate relaxed coastal living alongside nearby urban conveniences. The community’s growth reflects a blend of modern development and waterfront charm that attracts a variety of residents seeking a balanced lifestyle close to the city’s energy.

Walkability & Lifestyle

This property offers walkable access to waterfront parks, local shops, and dining venues typical of Miami Beach’s vibrant coastal neighborhoods. Residents can enjoy easy strolls to marinas, casual eateries, and boutique stores, enhancing everyday convenience while embracing an active, outdoor lifestyle. The neighborhood blends quiet residential streets with accessible urban amenities.

Things To Do Nearby

Miami Beach is rich with recreational options, including boating, fishing, and waterfront dining near the property. Nearby marinas and parks offer year-round outdoor activities, while the city's cultural venues and nightlife scenes are just a short drive away. This area suits those who value a mix of relaxation by the water and social entertainment within reach.

Nearby Schools

Families investing in this area will find accessible educational options within reasonable commuting distance. Miami Beach’s diverse neighborhoods offer a range of schools, providing convenient access to quality education and supporting family-oriented lifestyles. The community’s evolving character also contributes to a well-rounded environment for students and parents alike.

Why Buyers Like This Area

Buyers are drawn to this waterfront lot for its blend of steady income through existing units and promising development potential. Its location adjacent to North Bay Village offers a balance of peaceful waterfront living with quick access to Miami Beach’s dynamic atmosphere. The property’s unique positioning appeals to those looking for both lifestyle benefits and future growth opportunities.

Investment Potential

Situated in one of Miami Beach’s fastest-growing neighborhoods, this waterfront multifamily lot offers steady income potential from existing units and room for upscale development. The area has seen significant recent land acquisitions, signaling strong interest and growth. Proximity to North Bay Village enhances its appeal for future residents and developers aiming to build luxurious living spaces in a vibrant coastal community.

Market Trends

Miami Beach continues to attract development with substantial investment in multifamily and luxury condominiums. This property is well positioned within market trends that favor waterfront living and mixed-use projects. The ongoing expansion in North Bay Village and surrounding areas is driving demand for upscale residences combined with lifestyle amenities, making this lot an attractive opportunity for growth-oriented developers.

Rental Income Potential

The current multifamily units on this waterfront lot provide steady rental income, benefiting from high demand in Miami Beach’s vibrant rental market. Seasonal residents and year-round tenants are drawn to the area’s coastal lifestyle and convenient location. While rental potential is strong, buyers should consider market conditions carefully and assess how future development plans may enhance income prospects.