1325 Normandy Drive, Miami Beach, FL, 33141

Lot Size: 6,378 Sq Ft

Built: 1938

LEGAL DUPLEX - 2 HOUSES IN THE LOT!!

Details

FIX & FLIP OPPORTUNITY:

MUST CLOSE 10/05/2026

Buy the land at $480,000, clear the site, and build a new luxury single-family home in North Beach. Under the city's single-family rules, buildable area is 50% of the lot (2-story lot coverage 30%): on a 6,378 SF lot, roughly 3,189 SF. At the $1,000/SF target that is a ~$3.19M finished home, with land at about 15% of exit value. Finished single-family homes that closed within one mile in the past year sold at $815 to $1,239 per SF (median $1,051); details on page 2

• Over 75% of the building impacted by required repairs; inspector states plans and engineering are required and the property must be brought up to code.

• Foundation settlement: downward and lateral movement cracks at exterior walls, stem walls and interior.

• Water-damaged floor joists and wood deck;

joists not properly reinforced.

• Roof at end of life with water-damaged trusses and roof deck; signs of water infiltration at habitable ceilings.

• Electrical: cloth wiring throughout, Zinsco-type panel,

full rewire needed.

• Plumbing: deteriorated galvanized and cast-iron lines.

• Wood-destroying organism activity noted;

suspected mold in ceilings.

• No central A/C (window and wall units), rotted fascia and soffit, failing windows, overgrown trees on the structure.

Buy at $480,000, sold as-is (needs full renovation)

6,378 SF lot on Normandy Isle, North Beach

Recent sales nearby (last 6 months):

1555 71st St: 3/2 -- 1,784 SF, SOLD $910,500 SFH

1756 71st St: 3/2 -- 1,362 SF, SOLD $930,000 SFH

1185 Biarritz Dr: 4/3. -- 1,608 SF, SOLD $1,150,000 SFH

Comps: $910K to $1.15M

OR BUILD NEW

Build up to ~3,189 SF (est. 50% FAR)

Land cost: only $151 per buildable SF

Finished homes within 1 mile sold $815 to $1,239/SF

Target exit: ~$3.19M at $1,000/SF

Minutes to the beach, near Normandy Isle Park, Bal Harbour and Surfside

Tenant-occupied, ask for occupancy terms. Buyer to verify zoning, permits and flood.

Cash buyers: reply to this email to schedule a walk-through.

DO NOT DISTURB THE TENANT !!

PICTURES