Commercial Sale · Income/MultiFamily
1329 Pennsylvania Ave, Miami Beach FL 33139, MIAMI BEACH, FL, 33139
Active321 days on marketListed Oct 2, 2025MLS #A11888408
About this property
The property at a glance
1329 Pennsylvania Avenue (aka Shermon Court) is a 1936 Art Deco building masterfully designed by Henry Hohauser, one of South Beach's signature architects in the Deco era. This is a well-maintained 8-unit apartment building, each with spacious 1-bed/1-bath layouts. The building also has common laundry facilities as well as 5 off street parking spaces. All units are occupied by excellent long-term tenants on month-to-month leases at $1,700 ?— well below market. With renovations, rents can be repositioned to $2,300 - $2,500, offering strong upside potential. The property has passed its 40-year recertification and boasts a rich Miami Beach history, blending architectural character with modern stability. A rare investment opportunity with secure cash flow and significant value-add potential.
5,760
Building sq ft
$556
Price / sq ft
7,500
Lot sq ft
1936
Year built
1
Building
3900
Zoning
Income/MultiFamily
Property type
The numbers
Investment snapshot
Month To Month
Lease term
Estimated payment (illustrative)
Estimated payment
$17,142/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask Anthony to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
23,083
Population
$70,404
Median income
41
Median age
2
Avg household
$377,608
Median home value
$1,724/mo
Median rent
1,591
Households w/ kids
Consumer profile
The party don't stop until the sun comes up. Loud music, crowds, and shots are a recipe for a great night out for these people.
Interested in the finer things life has to offer, this population wants to display their lifestyle by discussing luxury products. Often references jewelry, cars, and home features.
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
You can find these people researching an upcoming exhibit at the natural history museum or learning about a famous monument. This population enjoys learning about the past.
This population is all about finding the latest in men's style - from fashion to grooming. Captures guys looking to stay on trend and significant others assisting with shopping.
Movie buffs and binge watchers expressing their love for movies, storytelling, and the film making process.
Recent sales
What actually sold near 1329 Pennsylvania Ave
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$2,400,000
751 Euclid Ave, Miami Beach FL 33139
Sold Dec 11, 2024
$2,200,000
Nearby listing
Sold Jun 18, 2025
$2,100,000
Nearby listing
Sold Nov 14, 2025
Your team
The pros in your corner
Your agent
Anthony Richardson
REALTOR® · CENTURY 21 Edge
Tours, offers, and every question about 1329 Pennsylvania Ave — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 1329 Pennsylvania Ave.
See it in person
Schedule a tour
Live availability from Anthony's calendar — pick a time and it's booked.
Keep looking
Similar properties nearby
Listing courtesy of BHHS EWM Realty · Ben Brissi. MLS #A11888408.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Miami Association of REALTORS®.
Never miss a listing
New MIAMI BEACH listings, in your inbox
A daily digest of every new listing in MIAMI BEACH — straight from the MLS, hours after it goes live. Unsubscribe anytime.