Short-Term Rental Yield Analysis
THE CLUB AT BRICKELL BAY · Residence 1914
1200 Brickell Bay Dr # 1914, Miami FL 33131 · 1 Bed / 1 Bath · 818 sq ft · Built 2004
$445,000Other ViewShort-term allowedBlueBay-managed building
Not a vacant flip — a tenant is in place today, on a long-term lease from the current owner. The STR numbers below start once that lease ends.
| Current tenant, in place | $2,900/mo |
| Lease runs to | April 2027 |
| Furniture | Tenant's — not included |
Of the four off-market Club 1/1s shown together by the listing agent (#1914, #2608, #2304, #3018), this one has the latest possession date — April 2027, roughly five months behind #2608 and two behind #3018. In exchange it carries the most runway of guaranteed rent before you have to do anything. Budget for holding it as a rental through the lease, not for converting it to STR on day one.
Listing agent Liana Doganiero (The Keyes Company) is offering a 3% co-broke commission. Source: WhatsApp thread with the listing agent, 16–18 Jul 2026 — verify directly before writing an offer.
STR revenue here is a real 1BR we manage in this building, not a generic estimate.
| Managed 1BR in the same building — as reported | Trailing 12 mo |
| Occupancy (owner-blocked summers) | 73% |
| Average daily rate | $192 |
| Gross revenue as reported | $52,100 |
that owner self-occupied every summer — May–August ran 45–54% while the building's other managed units held 80–90%. Removing the summer blocks restores the unit to ~83% occupancy. At ~83% blended that is $58,500 gross — the base case. Cross-check: the strongest occupancy in our managed pool in this building ran 86%, on a larger floorplan.
Professionally-managed short-term rental. Base revenue $58,500.
| Gross STR revenue | $58,500 |
| Professional STR management (20%) | −$11,700 |
| HOA ($700 × 12) | −$8,400 |
| Property tax | −$6,736 |
| Insurance (condo, STR) | −$2,000 |
| Utilities + internet | −$2,640 |
| Supplies, turnover, reserves (~4%) | −$2,340 |
| Net operating income (NOI) | $24,684 |
Unlevered cap rate = $24,684 ÷ $445,000 = 5.5%.
The same $24,684 NOI, two ways to own it.
Same $445,000. Only the STR revenue assumption changes (cap = NOI ÷ price).
I'll walk you through STR set-up, financing options, and run the live numbers for this unit.
A Miami Herald investigation (July 16, 2026) and Editorial Board opinion (July 20, 2026) examined short-term rental compliance at The Club at Brickell Bay, reporting that roughly 545 of the building's 643 units operate as short-term rentals while only a small subset holds a valid city Certificate of Use for lodging. Florida law (Fla. Stat. §509.242) requires a building-wide Change of Occupancy once more than 25% of units convert to short-term use — a threshold this building has passed. A new HOA board took office in June 2026 and has stated it intends to pursue proper registration. The short-term rental revenue in this analysis reflects actual historical operating performance, not a guarantee of continued legality — buyers should independently confirm current compliance status before purchase.