by RH Advisors

See Home Value
$17,000,000
House - Off Market

394 S Hibiscus Dr

Miami Beach, FL 33139
bedrooms
6 Beds
bathrooms
7 Baths
square feet
6145 Sqft
$98,317
Estimated Monthly
$0
HOA / Fees
0.33%
Cap Rate

About This Property

Build your dream home on a rare waterfront south facing double lot on coveted Hibiscus Island. This 18,375 square foot lot boasts 101' of waterfrontage with southern exposure on one of Miami Beach's most prestigious and guard gated island neighborhoods.  Perfectly positioned parcel captures breathtaking sunsets over Biscayne Bay and offers captivating panoramic views of the Downtown Miami skyline. This exceptional location is just minutes away from South Beach, Downtown, world class dining, shopping, and beaches.
Unit Size
6,145Ft²
Days on Market
-
Land Size
0.42 acres
Price per sqft
$2,766
Property Type
House
Property Taxes
$14,843
HOA Dues
-
Year Built
1930
Last updated: 5 days ago (Miami MLS #A11440523)

Price History

Date / Event Date Event Price
Feb 6, 2024 In contract -
In contract
Nov 22, 2023 Price Decreased $17,000,000
↓ $1M (5.6%)
Price Decreased
Aug 16, 2023 Listed by Coldwell Banker Realty $18,000,000
Listed by Coldwell Banker Realty

Property Highlights

Parking Available
Air Conditioning
With View

Building Info

Overview

    General

  • Year Built: 1930
  • Effective Year Built: 1996
  • Building Count: 1
  • Bedroom Count: 6
  • Bathroom Count: 7
  • Full Bathrooms: 7
  • Partial Bathrooms: 7
  • Building Quality: D
  • Construction Type: Concrete block
  • Exterior Walls Type: Combination
  • Floor Count: 2
  • Living Units: 1
  • Basement Area: 0
  • Parking Space Count: 0
  • Pool Type: Pool

    Dimensions

  • Lot Size Square Feet: 18,375
  • Lot Size Depth Feet: 1,750
  • Lot Size Frontage Feet: 1,050
  • Total Building Area: 6,195
  • Gross Building Area: 6,195
  • Building Area: 6,145
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: unknown
  • Heated Square Feet: 6,145
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: HIBISCUS ISLAND
  • Land Acres: 0.422
  • Standard Land Use Code: Single family residential
  • Legal Description 1: HIBISCUS ISLAND PB 8-75 LOT 20 & 20FT STR IN BAY ADJ & E 45FT LOT 21 & 20FT STR IN BAY ADJ BLK 1 LOT SIZE 105.000 X 175 OR 11826-449 0683 5 COC 23772-3748 05 2005 1

Ownership

  • Current Owner : MORELLI PAUL
  • Current Owner 2: THE HIBISCUS HOLDINGS TRUST
  • Previous Owner : QUANTUM EQUITY ONE LLC
  • Owner Before Previous Owner: WELLS FARGO BANK NA
  • Current Owner Is a Corporation Indicator: Yes
  • Vacant Flag: Address Standardization Based
  • Vacant Flag Date: Apr 04, 2024

Neighborhood

  • School District Name: Dade County School District
  • School Tax School District: MIAMI BEACH
  • Census Tract: 004102

Zoning

  • Zoning: 0800

Geography

  • Assessors Map Reference: 182
  • District: 02
  • Subdivision Tract Number: TR IN
  • Parcel: 02-3232-006-0180
  • Block: 1
  • Lot: 20,21
  • Meridian: SEC 32 TWN 53S RNG 42E
  • Municipality: MIAMI BEACH
  • Latitude: 25.784
  • Longitude: -80.1644

    Address

  • Full Address: 394 S Hibiscus Dr
  • Address - House Number: 394
  • Street Direction: S
  • Address - Street Name: Hibiscus
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Miami Beach
  • Carrier Code: C005
  • 4-Digit Zip Code: 5134
  • Zip Code: 33139

Valuation

    Tax

  • Total Area: 5,739
  • Tax Year: 2023
  • Tax Amount: $210,139
  • Tax Rate Code Area: 200

    Appraisal Valuation

  • Standard Deviation: 0.0941
  • Valuation Date: Dec 13, 2023
  • Confidence Score: 91
  • Final Value: 19,798
  • High Value: 21,663
  • Low Value: 17,933

    Market Valuation

  • Market Total Value: $12,256,713
  • Market Land Value: $11,300,625
  • Market Improvement Value: $956,088

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $10,256,601

    Sales

  • Current Sale Contract Date: Mar 22, 2021
  • Current Sale Recording Date: Mar 29, 2021
  • Current Sale Transaction ID: 11830430287
  • Current Sale Price: $11,500,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 2021R0215635
  • Previous Sale Recording Date: Jun 05, 2013
  • Previous Sale Contract Date: May 31, 2013
  • Previous Sale Amount: $3,200,000
  • Previous Sale Document Type: Quit Claim Deed



Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
6 Beds
6 Baths
6,685 ft²
$2,094/ft²
$14,000,000 Oct 9, 2023
$14,000,000 Jan 30, 2024
$15,499/mo
House
6 Beds
8 Baths
7,924 ft²
$1,641/ft²
$13,000,000 Jan 24, 2022
$13,000,000 Sep 29, 2023
$11,523/mo
House
5 Beds
6 Baths
5,209 ft²
$3,168/ft²
$16,500,000 Oct 2, 2023
$16,500,000 Jan 17, 2024
$14,060/mo
House
5 Beds
5 Baths
4,507 ft²
$3,306/ft²
$14,900,000 May 19, 2023
-
$5,516/mo
House
5 Beds
4 Baths
3,488 ft²
$4,731/ft²
$16,500,000 Nov 29, 2023
-
-
House
9 Beds
11 Baths
8,216 ft²
$1,747/ft²
$14,350,000 Jan 9, 2023
-
$3,811/mo
House
3 Beds
4 Baths
3,646 ft²
$4,498/ft²
$16,398,990 Nov 3, 2023
-
$2,451/mo
House
4 Beds
6 Baths
3,756 ft²
$5,272/ft²
$19,800,000 Oct 9, 2023
-
$10,828/mo
House
4 Beds
4 Baths
3,629 ft²
$3,844/ft²
$13,950,000 Aug 31, 2023
-
$7,224/mo

About Star, Palm and Hibiscus Islands


Similar Homes for Sale

Unit for sale at 250 South Hibiscus Drive, Miami Beach, FL 33139

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Nearby Rentals

Unit for rent at 801 S Pointe Dr, Miami Beach, FL, 33139

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Unit for rent at 300 Collins Ave, Miami Beach, FL, 33139

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Unit for rent at 450 Alton Rd, Miami Beach, FL, 33139

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Frequently Asked Questions

When was property at 394 South Hibiscus Drive built and last sold?
The property at 394 South Hibiscus Drive was built in 1930 and last sold on Mar 22, 2021 for $11,500,000.
How much is this home worth?
The estimated value of the home located at 394 South Hibiscus Drive is $17,170,000.
What are some comparable homes to 394 South Hibiscus Drive?
Homes that are comparable to 394 South Hibiscus Drive include a house property at 222 South Coconut Lane, 205 North Hibiscus Drive, 369 North Hibiscus Drive.

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