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6890-6896 Abbott Ave
PREPARED BY
Tomas Sulichin
Director, Commercial Division
Rent Comparables
20 Unit Apartment Building
Miami Beach, Florida - North Shore Neighborhood
Rent Comparables Summary6890-6896 Abbott Ave
11 $943 $1.82 2.7%No. Rent Comps Avg. Rent Per Unit Avg. Rent Per SF Avg. Vacancy Rate
RENT COMP LOCATIONS
RENT COMPS SUMMARY STATISTICS
Unit Breakdown Low Average Median High
Total Units
Studio Units
One Bedroom Units
Two Bedroom Units
Three Bedroom Units
10
0
0
0
0
17
10
8
0
0
16
8
7
0
0
30
30
18
0
0
Property Attributes Low Average Median High
1936Year Built
Number of Floors
Average Unit Size
Vacancy Rate
Star Rating
2
283 SF
0.0%
1948
2
544 SF
2.7%
1951
2
649 SF
3.0%
1957
3
750 SF
10.0%
2.0
9/26/2019Copyrighted report licensed to Decorus Realty - 764242.
Page 2
Rent Comparables Summary6890-6896 Abbott Ave
Property Name/Address Rating Yr Built Units Avg Unit SF Studio 1 Bed 2 Bed 3 Bed Rent/SF
Property Size Asking Rent Per Month Per Unit
-Devon Apartments
30 283 $715 - - - $2.536881 Indian Creek Dr
1 1939
-6844 Abbott Ave
16 445 $987 $1,167 - - $2.372 1955
-7001 Bonita Dr
14 675 $1,315 $1,346 - - $1.973 1957
-6755-6765 Harding Ave
30 508 $806 $1,018 - - $1.754 1953
-6970 Indian Creek Dr
10 675 $1,127 $1,154 - - $1.695 1936
-6775-6785 Indian Creek Rd
18 750 - $1,220 - - $1.636 1937
-Indian Creek Apartments
16 675 $928 $1,167 - - $1.556901 Indian Creek Dr
7 1951
-Deco Lindo Apartments
20 622 $925 $947 - - $1.496834 Harding Ave
8 1955
-6910 Byron Ave
12 - - $723 - - -9 1951
-6890-6896 Abbott Ave
20 0 - - - - -1957
-South Harding Apartments
14 - $719 $746 - - -6860 Harding Ave
10 1957
-6825 Abbott Ave
10 - - $798 - - -11 1939
9/26/2019Copyrighted report licensed to Decorus Realty - 764242.
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Vacancy 0%
7001 Bonita Dr14 Units / 3 Stories
Owner: FININVEST BAY CORP
Rent/SF $1.97,
3
Vacancy 0%
6844 Abbott Ave16 Units / 2 Stories
Owner: G & P Abbott Realty Llc
Rent/SF $2.37,
2
Vacancy 3.3%
6881 Indian Creek Dr30 Units / 2 Stories
Owner: Avenue 4 Equity Partners
Rent/SF $2.53,
Devon Apartments1
Vacancy 5.6%
6775-6785 Indian Creek Rd18 Units / 2 Stories
Owner: Paul Buechele PA
Rent/SF $1.63,
6
Vacancy 10.0%
6970 Indian Creek Dr10 Units / 2 Stories
Owner: Residences at South Beach;…
Rent/SF $1.69,
5
Vacancy 3.3%
6755-6765 Harding Ave30 Units / 2 Stories
Owner: Alan Lieberman
Rent/SF $1.75,
4
Vacancy 0%
6910 Byron Ave12 Units / 2 Stories
Owner: Yehezkel Family;Elysee Inve…
Rent/SF -,
9
Vacancy 5.0%
6834 Harding Ave20 Units / 2 Stories
Owner: Humana Press
Rent/SF $1.49,
Deco Lindo Apartments8
Vacancy 0%
6901 Indian Creek Dr16 Units / 2 Stories
Owner: Tri-Vest Properties Inc
Rent/SF $1.55,
Indian Creek Apartments7
Rent Comparables Photo Comparison6890-6896 Abbott Ave
9/26/2019Copyrighted report licensed to Decorus Realty - 764242.
Page 4
Rent Comparables Photo Comparison6890-6896 Abbott Ave
Vacancy 0%
6825 Abbott Ave10 Units / 2 Stories
Owner: Moussa Bensalem
Rent/SF -,
11
Vacancy 0%
6860 Harding Ave14 Units / 2 Stories
Owner: Elysee Investments
Rent/SF -,
South Harding Apartments10
Vacancy 5.0%
6890-6896 Abbott Ave20 Units / 2 Stories
Owner: Arie Markowitz
Rent/SF -,
Subject Property
9/26/2019Copyrighted report licensed to Decorus Realty - 764242.
Page 5
Rent Comparables by Bedroom6890-6896 Abbott Ave
$867 $1,038 - -Studio Comps One Bed Comps Two Bed Comps Three Bed Comps
Subject
-
Subject
-
Subject
-
Subject
-
1 Bedroom 2 Bedroom 3 BedroomCurrent Conditions in Rent Comps Studio
Total Number of Units 105 85 0 0
Vacancy Rate 3.1% 2.1% - -
Asking Rent Per Unit $867 $1,038 - -
Asking Rent Per SF $1.99 $1.64 - -
Effective Rents Per Unit $863 $1,033 - -
Effective Rents Per SF $1.98 $1.64 - -
Concessions 0.4% 0.4% - -
Changes Past Year in Rent Comps Studio 1 Bedroom 2 Bedroom 3 Bedroom
Year-Over-Year Effective Rent Growth 0.6% 0.6% - -
Year-Over-Year Vacancy Rate Change
12 Month Net Absorption in Units
-0.2%
0
0.0%
0 -
- -
-
EXISTING UNITS VACANT UNITS
ASKING RENT PER UNIT PER MONTH 12 MONTH NET ABSORPTION IN UNITS
9/26/2019Copyrighted report licensed to Decorus Realty - 764242.
Page 6
Studio Rent Comparables6890-6896 Abbott Ave
Property Name/Address Rating Studio Rent Per Unit YearQuarterRent/SF
Change in Rent
7001 Bonita Dr0.6%0.0%$2.19
$1,315
$1,314
6970 Indian Creek Dr0.6%0.0%$1.88
$1,127
$1,127
6844 Abbott Ave0.6%0.0%$2.47
$987
$986
6901 Indian Creek Dr
Indian Creek Apartments0.6%0.0%$1.55
$928
$928
6834 Harding Ave
Deco Lindo Apartments0.6%0.0%$1.54
$925
$925
6755-6765 Harding Ave0.6%0.0%$1.97
$806
$805
6860 Harding Ave
South Harding Apartments0.6%0.0%-
$719
6881 Indian Creek Dr
Devon Apartments0.6%0.0%$2.53
$715
$714
$0 $450 $900 $1,350 $1,800
9/26/2019Copyrighted report licensed to Decorus Realty - 764242.
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One Bedroom Rent Comparables6890-6896 Abbott Ave
Property Name/Address Rating One Bedroom Rent Per Unit YearQuarterRent/SF
Change in Rent
7001 Bonita Dr0.6%0.0%$1.79
$1,346
$1,345
6775-6785 Indian Creek Rd0.6%0.0%$1.63
$1,220
$1,220
6844 Abbott Ave0.6%0.0%$2.24
$1,167
6901 Indian Creek Dr
Indian Creek Apartments0.6%0.0%$1.56
$1,167
6970 Indian Creek Dr0.6%-0.1%$1.54
$1,154
6755-6765 Harding Ave0.6%-0.1%$1.55
$1,018
$1,017
6834 Harding Ave
Deco Lindo Apartments0.6%0.0%$1.26
$947
6825 Abbott Ave0.6%0.0%-
$798
$798
6860 Harding Ave
South Harding Apartments0.6%0.0%-
$746
$745
6910 Byron Ave0.6%0.0%-
$723
$723
$0 $450 $900 $1,350 $1,800
9/26/2019Copyrighted report licensed to Decorus Realty - 764242.
Page 8
6890-6896 Abbott Ave
PREPARED BY
Tomas Sulichin
Director, Commercial Division
Construction Survey
20 Unit Apartment Building
Miami Beach, Florida - North Shore Neighborhood
Under Construction Properties6890-6896 Abbott Ave
2 46 0.4% 23Properties Units Percent Of Inventory Avg. No. Units
UNDER CONSTRUCTION PROPERTIES
UNDER CONSTRUCTION SUMMARY STATISTICS
Low Average Median High
Property Size in Units 5 23 23 41
Number of Stories 4 4 4 4
Average Unit Size - - - -
Star Rating 3.5
Estimated Delivery Date Oct 2019 Nov 2019 Nov 2019 Jan 2020
Months to Delivery 1 2 2 4
Construction Period in Months 21 21 22 22
9/26/2019Copyrighted report licensed to Decorus Realty - 764242.
Page 10
Under Construction Properties6890-6896 Abbott Ave
COMPLETIONS WITHIN NEXT 3 MONTHS
Property Name/Address Rating Units Stories Start Complete Developer/Owner
Jan-20181966 Biarritz Dr
The Bay Ritz5 4 Oct-2019
Restate Construction
Restate Construction1
COMPLETIONS 3-6 MONTHS AWAY
Property Name/Address Rating Units Stories Start Complete Developer/Owner
Mar-20189521 E Bay Harbor Dr
Bijou Bay Harbor41 - Jan-2020
Juan C Gonzalez Jaramillo
Juan C Gonzalez Jaramillo2
9/26/2019Copyrighted report licensed to Decorus Realty - 764242.
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