Brickell
General area shown. The exact address and Airbnb-approved building are shared under NDA when you reserve or book a call.
Miami, FL1BR1BA750 sqft$3,500/mo lease
Worth acquiring. The numbers clear our bar with room to spare.
Operating profit, before the one time startup capital ($32,500), which the ROI and payback above already account for.
Executive summary
Brickell is the Icon Brickell condo-hotel complex, one of the most established STR-friendly buildings in Miami, and live comps within the same towers confirm genuine, active demand at healthy base nightly rates — the per-night economics clear our bar with modest room to spare. The subject's amenity stack is essentially table-stakes for this building, so it competes on price, view, and operational polish rather than differentiation; parking and a dedicated workspace are its few real edges. The dominant risk is supply: hundreds of near-identical Icon/W listings chase the same guest, and a building-wide facade/stucco program running through late 2026 (balcony closures, weekend-only pool, daytime construction noise) is already discounting rates and pressuring reviews right now. Margins are rent- and occupancy-sensitive — this is a strong-location, thin-margin cash-flow play that lives or dies on disciplined event pricing (Art Basel, F1, World Cup, Miami Open) and tight cost control, not on beating the market on ADR. I would lease and operate it, but only with the lease's STR permission and the full DBPR/county/city license stack confirmed in writing and an effective rent that pencils below roughly $4,300/month. Note: Comp ADRs shown are base nightly rates. Y1 Net calculations include separate cleaning fee revenue from Revarity locked constants.
The money model
Three honest scenarios: bear (conservative), base (realistic), and bull (stretch). Base is what we underwrite to.
Nightly rate and occupancy are set by 6 live comps we shopped on 2026-08-24.
Seasonal demand & event calendar
What drives the peaks: named local demand catalysts.
Live comps: what the market actually shows
- Unbeatable location & walkability
- Bay/city views match photos
- Resort amenities (pool, spa, gym)
- Value/condition concerns on some stays
- 2026 stucco maintenance noise + weekend-only pool
- Heart-of-Brickell location
- Breathtaking views
- Clean & well-furnished
- Responsive host
- Building amenity access
- Dramatic 16ft ceilings & views
- W/Icon resort amenities
- Pet-friendly
- Great walkable location
- Valet/parking logistics
- Ocean views
- Central Brickell location
- Clean modern condo
- 3-night minimum
- Building pool/amenities
- Key Biscayne corner views
- W spa/pool access included
- Boutique host service
- Well-maintained unit
- Price converted from CAD listing
- Bay views
- Dog-friendly
- Quiet hours 10pm-8am enforced
- Sleeps 2 only
- Pool & hot tub access
- 100% legal STR (explicitly advertised)
- Comfy beds & luxury finishes
- Hotel spa/pool/valet access
- Complimentary beverages + Nespresso
- Base nightly price not visible without dates — excluded from ADR median
- Location score 10.0
- Spacious 1BR
- City views
- Full kitchen
- Price not shown without dates — excluded from ADR median
- Location score 9.2
- Resort spa & pool
- Pool/city/water view options
- Full kitchen + dishwasher
- Price not shown without dates — excluded from ADR median
- Facing the iconic Icon pools
- Central Brickell/downtown
- Resort amenities
- Modern furnished unit
- Live nightly price not captured — excluded from ADR median
Amenities: what it has, what it's missing
Amenities the top comps have that this unit is missing, ranked by revenue impact.
Roughly 60% of winning comps (Icon 4006, W Residences corner, Brickell Arch Marriott, dog-friendly bayview) advertise hot tub or resort spa/cold-plunge access; the subject should either secure and prominently market Icon's building spa access or add an in-unit soaking amenity. In an amenity-parity building, spa access is a booking tiebreaker.
Higher-ADR comps ($362–447) explicitly list a sleep sofa/futon to genuinely sleep 4; the subject advertises sleeps-4 and should back it with a real second sleeping surface to capture small families and share travelers without losing the listing filter.
Multiple comps require lobby ID pre-registration and an in-person meet, a recurring guest gripe; a compliant self/keyless flow (where the building permits) removes friction and lifts communication/check-in review sub-scores.
The Brickell Arch Marriott comp wins reviews with free Nespresso and a stocked-fridge welcome; a low-cost coffee/beverage setup is a cheap review-driver in this business-traveler market.
Cost, ADR lift and rate targets are estimates derived from the live comp set. Advisory only, never part of the verdict, tier, or Year 1 math.
Regulatory & landlord read
Is short term rental legal here, and who owns/manages the building.
City of Miami ‘Miami 21’ form-based zoning code (STR/lodging permitted by right/warrant in transect zones T4-L/O, T5, T6, CI-HD) + Miami-Dade County Code §33-28 (Certificate of Use); FL DBPR Ch. 509 vacation-rental licensing. https://www.miamidade.gov/building/standards/residential-short-term-vacation-rentals.asp ; https://www.miami.gov/Government/Departments-Organizations/Planning
Pending: FL SB 280 (statewide STR registry + platform tax remittance) VETOED by Gov. DeSantis June 2024 — pre-existing local framework continues into 2026; City of Miami developing a distinct ‘Apartment Hotel’ Certificate of Use / Business Tax Receipt classification for T4/T5/CI-HD lodging units
Flags: Icon Brickell master/condo association undertaking building-wide exterior stucco/facade maintenance Apr–Dec 2026 (balcony closures, weekend-only pool) — potential special-assessment and guest-experience risk; not a landlord-specific lawsuit
Brickell CC&Rs explicitly prohibit leases under 6 months and cap rentals at once per year — this is structurally incompatible with STR operations at any scale.
Seasonal pricing rate card
Suggested ADR targets by season and the named local events that drive the peaks.
| Period | ADR target | Min stay | Note |
|---|---|---|---|
| Art Basel week (early Dec) | $450–600 | 3–4 nights | Biggest rate week of the year — rooms citywide run 2–4x; book the window early. |
| F1 Miami Grand Prix (early May) | $475–650 | 3 nights | Brickell is a preferred base for Hard Rock events; ~95% of Brickell rentals sell out in early May. |
| Winter high season weekend (Jan–Mar, incl. Boat Show/SOBEWFF) | $340–430 | 2–3 nights | Peak leisure + convention demand; layer Miami Open (late Mar) and Ultra weekends higher. |
| Winter high season weekday (Jan–Mar) | $280–330 | 2 nights | Strong corporate/leisure midweek; sits above the 4-star hotel midweek ceiling only with premium finish/view. |
| FIFA World Cup match weekends (Jun 15–Jul 18 2026) | $320–430 | 3 nights | Summer event lift bucks the normal summer softness — price to the fixture calendar. |
| Summer weekend (Jun–Aug, non-event) | $260–310 | 2 nights | Wimdu shows Brickell summer weeks still average high; hold rate on weekends. |
| Summer weekday (Jun–Aug, non-event) | $210–255 | 2 nights | Respect the 3–4 star hotel midweek ceiling ($90–360); mid-stay corporate is the unlock. |
| Shoulder / softest (Sep–early Oct) | $205–250 | 2 nights | Lowest demand + tail of 2026 building works; discount to protect occupancy and reviews. |
Cost, ADR lift and rate targets are estimates derived from the live comp set. Advisory only, never part of the verdict, tier, or Year 1 math.
Neighborhood trajectory
Where this submarket is heading: capital, prices, and the ADR ceiling.
Brickell is a mature, still-appreciating urban core, not an early-gentrification play. The branded ultra-luxury pipeline is a leading indicator of durable land-value growth and reinforces the corporate-demand thesis, but most new deliveries are for-sale luxury condos rather than direct STR competitors — the nearer-term ADR headwind is the existing Icon/W listing saturation and 2026 building works, not the 2027–2030 towers.
- 888 Brickell (Dolce & Gabbana branded) · units from ~$2.17M (under construction, est. 2027)
- Cipriani Residences Miami · units from ~$2.15M (delivery est. 2026)
- Mercedes-Benz Places Brickell · mixed-use branded tower (est. 2027)
- Viceroy Brickell Residences · units from ~$630.9k (delivery est. 2026)
- The Residences at 1428 Brickell · 189 units, 70 floors (est. 2026)
- Brickell Starlite (Focus Development/Group Fox) · $250M total (~$159M permit), 517 units (est. 2028)
- ORA by Casa Tua · 540 units, 77 floors (est. 2029)
The analyst's take
Legal, amenity-rich Icon Brickell 1BR with strong per-night economics but heavy same-building supply and active 2026 construction disruption — a solid but supply-pressured operate.
- Elite event calendar (Art Basel Dec, F1 early May, FIFA World Cup Jun–Jul 2026, Miami Open Mar) supports 2–4x peak pricing
- Wall Street South corporate migration drives mid-stay/relocation demand — workspace is an edge
- Icon Brickell brand + resort amenities command a per-night premium
- Pet policy (all pets) captures an underserved, higher-willingness-to-pay segment
- Top-tier walkability + Metromover/Brightline transit reduces friction and widens guest pool
- Heavy existing STR supply at Icon Brickell (250+ active listings) pressures occupancy and ADR
- Building facade/stucco maintenance Apr–Dec 2026 — balcony closures, weekend-only pool, construction noise depressing near-term rates and reviews
- Licensing complexity (DBPR + county CU + city BTR + OMP) and rising fine/enforcement exposure; condo-association approval needed
- Rent- and occupancy-sensitive margins — net erodes fast if ADR lands below ~$290 or occupancy below ~60%
- Seasonality concentration: Nov–May strong, Aug–Sep soft
What guests say: POSITIVE THEMES (across ~75 reviews from the 3 closest comps): - Location & walkability: guests repeatedly cite steps-from-everything Brickell placement, transit, and dining. - Views: bay/city/pool views that ‘look just like the photos’ are the top delighter. - Resort amenities: pool, spa, cold plunge, gym and on-site restaurants at Icon/W are a major draw. - Hospitality/communication: responsive hosts and smooth arrivals earn strong marks. - Cleanliness & furnishings: units generally read clean and well-appointed on arrival. NEGATIVE / WATCH THEMES: - 2026 building works: stucco/facade maintenance — balcony closures, weekend-only pool, and daytime construction noise are recurring complaints and are being discounted for. - AC/humidity: isolated reports of musty/hot units and failing thermostats — watch HVAC before guest arrivals. - Check-in friction: building ID pre-registration and mandatory lobby meet frustrate some guests — a keyless/streamlined process would help. - Value/condition variance: one high-volume comp sits in the ratings’ bottom decile despite volume — condition consistency matters here. - Parking/valet confusion: fees and off-site/valet logistics surface across comps — set clear expectations.
Risk & compliance checks
Every deal breaker we screen, scored on this property.
No building-specific infestation reports found; Brickell zone carries medium bed-bug pressure and high-rise STR turnover elevates hitchhiker-pest risk.
Brickell earns a 2026 A safety grade but sits 50% above national crime average; one homeless break-in incident in May 2025 was isolated.
Multiple Icon Brickell 1BR STR listings found, but active construction is disrupting balcony access and pool hours through Dec 2026 — disclosed in live listing descriptions.
[Cached: 2026-07-07] Projected STR ADR floor ~$196 sits comfortably below the $269 Downtown Miami/Brickell hotel ADR ceiling.
Asking rent of $3,500 is 3–30% above comparable 1BR market references depending on data source, warranting scrutiny before signing.
No individual unit landlord LLC or eviction history identified for the specific unit at Brickell; no public bankruptcy or STR lawsuit records surfaced.
Approximately 15–35 same-bed STR listings operate within 0.25mi of 465 Brickell, predominantly from Icon Brickell Tower 2/W Hotel and adjacent luxury towers.
[Cached: 2026-07-07] Five-plus named, quantified demand drivers confirmed within 5mi; Brickell is Miami's financial and entertainment core.
[Cached: 2026-07-07] MIA east-flow departure corridor overhead, Brickell nightlife within 0.15mi, and confirmed active building renovation with balcony/pool restrictions through Dec 2026 create layered noise and nuisance risks.
[Cached: 2026-07-07] ~4,254 units delivering in Brickell 2025–2028 create a high-severity supply risk far above the 300-unit threshold.
Tier 3 — not run. Trigger 'Go Deeper' to add this domain.
Tier 3 — not run. Trigger 'Go Deeper' to add this domain.
Sources: every figure links back (28)
Open any to verify the data yourself.
- 01Pest Sentinel · Miami - Brickell 65 … city-wide risk score is 64/100 — MEDIUM
- 02PURCOR Pest Control · High-rise condos in Brickell and Edgewater face different challenges … shared wall cavities, centralized HVAC systems, and package delivery areas that become entry points for German cockroaches and bed bugs.
- 03DoorProfit Crime Statistics · Brickell in Miami, FL has a crime safety grade of A as of 2026.
- 04Local 10 News · 'Brickell and the city of Miami as a whole remains one of the safest cities in America.'
- 05City-Data.com · The 2025 Miami crime rate fell by 27% compared to 2024.
- 06Airbnb – Brickell, FL listings · Balconies are temporarily inaccessible, clear window film may affect views, with intermittent daytime construction noise. Pool is open Saturday-Sunday due to construction.
- 07Airbnb – Stunning Icon Brickell 1 BDR listing · Jul 9, 2025 - Entire condo for $250.
- 08BlueBay Brokers – Brickell STR Management · 78% avg occupancy, $385/night, $112k+ annual revenue per unit.
- 09AirROI – Miami Airbnb Data 2026 · Miami headline Airbnb metrics are $38,113 in average annual revenue, 45.4% occupancy, $303 ADR.
- 10Rabbu – Miami STR Market Data 2026 · The average daily rate for Airbnb listings in Miami is $267.
- 11City-Data.com – ZIP Brickell · Median gross rent in 2024: $3,392.
- 12ApartmentList – Brickell · In Miami, FL, the average rent is $2,685 for a 1-bedroom.
- 13Icon Brickell Rent – Tower 1 Floor Plans · 1 Bedroom | 1 Bathroom · 1,065 SqFt (99 m2)
- 14Miami Condo Investments – Brickell FAQ · Owners may rent their units a maximum of one (1) time per year. No lease can be less than six (6) months and 1 day.
- 15Brickell.com – Best STR Buildings · Miami has the steepest short-term rental fines in the country so you should be meticulous in your hunt to acquire the perfect condo.
- 16Miami Prime Management – Tower 1 · We are a local property management company specialized in individually owned units at the Icon Brickell Tower I building located at Brickell.
- 17Keyrenter Miami West – Brickell Overview · Brickell, often referred to as the 'Manhattan of the South,' is Miami's vibrant financial and residential heart.
- 18Niche.com – Brickell resident review · Constant construction noise, intense traffic during peak hours.
- 19Airbnb comp #1 · Luxe Bayview 1BR at Icon Brickell: 37th Floor View
- 20VRBO comp #3 · Beautiful One Bedroom Condo 16ft ceilings at the W (Icon Brickell 4006)
- 21VRBO comp #4 · Luxury 1 Bedroom Apartment • Brickell • Ocean View
- 22VRBO comp #5 · Front Ocean Views Corner W Residences — FREE Pool/Wi-Fi/Spa/Gym
- 23VRBO comp #6 · Dog-friendly bayview condo in the heart of Brickell w/ pool & hot tub
- 24VRBO comp #7 · Brickell Arch Marriott Luxury Collection, 1-bedroom Suite
- 25Booking comp #8 · Miami City Views at Icon Brickell
- 26Booking comp #9 · ICON Brickell Residences (W)
- 27Airbnb comp #10 · ★ICON Brickell★ Luxury 1 Bedroom Apt w/ Pool View
- 28STR ordinance / regulation
Figures shown are modeled projections from our analysis engine, not guarantees. Verify everything before committing. Some listing data provided by RentCast.
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