Home » Properties » 8221 Crespi Blvd, Miami Beach FL 33141

Waterfront Duplex with Development Potential in Miami Beach

This 5-bedroom, 5-bathroom duplex in Miami Beach offers 3,104 sqft of living space with waterfront views and a private dock, ideal for redevelopment.

$1,850,000

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MLS #A11619556

Listing Updated: 2026-07-16 18:41:52

Listed By: The Corcoran Group

Overview

Located at 8221 Crespi Blvd, Miami Beach, this unique residential property features a duplex setup with a total of five bedrooms and five bathrooms across 3,104 sqft. Built in 1956, the home offers waterfront views and direct access to the ocean via a private dock with a fixed bridge. The property sits in a neighborhood undergoing significant redevelopment, including new high-rise and retail projects nearby, enhancing its long-term appeal. With a maximum buildable FAR of 1.25, the site allows for up to 7,188 sqft of living space and five stories, presenting excellent potential for expansion or redevelopment. The current rent roll is below market, and the seller requires full price offers.

Property Highlights

Waterfront duplex with private dock, 5 bedrooms, 5 bathrooms, 3,104 sqft living area, redevelopment potential with FAR 1.25, located in a rapidly developing Miami Beach neighborhood.

Property Details

City: Miami Beach

State: FL

Zip Code: 33141

Address: 8221 Crespi Blvd, Miami Beach FL 33141

Year Built: 1956

Property Type: Residential

Property Sub Type: Single Family Residence

Listing Office Name: The Corcoran Group

County: Miami-Dade County

Garage Spaces: 0

Parking Features: Other

Interior Features: Other, Family Room

Exterior Features: Other

Waterfront: Yes

Pool: No

HOA Fee: $0

Annual Tax: $12,481

Days On Market: 730 Days

Original Listing Description

Waterfront Miami Beach development potential! Currently a duplex this 2-unit multi-family development offers waterfront views, a private dock with one fixed bridge access to the ocean. The neighborhood is undergoing redevelopment with many new high rise and retail buildings under construction nearby on the 79th causeway and $2 billion investment on nearby Ocean Terrace. Current rent roll below market $7750. Buildable square footage max FAR 1.25, which allows 7,188 sq feet living and five stories high. There is city notice requiring the owner to permit and build a common area laundry which the seller says will cost $25,000 but seller says this is a buyer responsibility to build if they keep the structure, but $0 cost if they knock and build new. Seller will only accept full price offer.

Property Location

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

8221 Crespi Blvd, Miami Beach FL 33141

About This Neighborhood

Situated in Miami Beach’s 33141 zip code, this property benefits from proximity to the 79th Causeway and the Ocean Terrace area, both undergoing major redevelopment. The neighborhood combines residential charm with increasing commercial activity, including new retail and high-rise buildings. Waterfront access and ocean views contribute to the area’s desirability. Residents enjoy a blend of urban convenience and coastal living, with easy access to beaches, dining, and entertainment options nearby.

Walkability & Lifestyle

The property is located within a walkable neighborhood featuring access to local shops, restaurants, and waterfront areas. Residents can enjoy strolls along the beach or nearby parks, with entertainment and dining options accessible without extensive travel. The area’s walkability supports a lifestyle that balances convenience and outdoor living in Miami Beach.

Things To Do Nearby

Miami Beach offers a wide range of activities including boating, beach outings, dining at waterfront restaurants, and cultural events. The nearby Ocean Terrace and 79th Causeway areas provide shopping and entertainment venues. Outdoor enthusiasts can enjoy water sports, golf, and exploring local parks, making this location suitable for diverse lifestyles.

Nearby Schools

Families considering this Miami Beach location will find access to a variety of educational institutions within reasonable distance. The area offers public and private school options catering to different age groups, providing convenience for residents. Proximity to schools enhances the neighborhood’s appeal for families seeking quality education alongside coastal living.

Why Buyers Like This Area

Buyers appreciate this property for its combination of waterfront access, redevelopment potential, and location within a dynamic Miami Beach neighborhood. The private dock and ocean views add lifestyle appeal, while the evolving community offers increasing amenities and conveniences. Its size and zoning flexibility suit those looking for multi-family use or redevelopment opportunities.

Investment Potential

This Miami Beach duplex offers notable redevelopment potential due to its waterfront location and zoning that allows up to 7,188 sqft of living space. The neighborhood is experiencing significant investment and new construction, which may enhance property values over time. Buyers interested in development or multi-family use will find this property appealing given its size, location, and access to oceanfront amenities. While current rents are below market, the property’s flexibility and location offer opportunities for future repositioning.

Market Trends

Miami Beach continues to attract buyers and developers due to its waterfront locations and ongoing urban renewal projects. The local market shows steady demand for properties with redevelopment potential, especially those offering ocean access and views. Inventory in this segment remains limited, supporting interest from buyers seeking multi-family or larger residential sites. The area’s evolving infrastructure and investments suggest a positive outlook for long-term property appeal.

Rental Income Potential

The current rental income for this duplex is below market, indicating potential for adjustment in the future. Its waterfront location and private dock make it attractive to tenants seeking premium coastal living. Seasonal demand in Miami Beach supports rental interest, especially for multi-family units with flexible layouts. Prospective buyers should consider the property’s usability and location advantages when evaluating rental prospects.