Brickell
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Miami, FL1BR1BA1,006 sqft$3,008/mo lease
Worth acquiring. The numbers clear our bar with room to spare.
Operating profit, before the one time startup capital ($37,008), which the ROI and payback above already account for.
Executive summary
Brickell is a deep, proven STR submarket with genuine year-round demand from business travel, tourism, cruise traffic, and a dense winter/spring event calendar, and the subject's amenity stack (sauna, game room, EV charging, hot tub, in-unit laundry, dedicated workspace, and — notably — included parking) is actually richer than most operating comps, which compete largely on view and location. The real constraint is economics rather than demand: Brickell's high lease rates compress this arbitrage spread, so strong nightly pricing converts into a solid, positive-but-not-spectacular cash-flow play consistent with Miami being an appreciation market more than a cash-flow one. Regulatory footing is the single biggest watch item — the City of Miami treats STR as a lodging use permitted only in the right transect zone with a stacked DBPR license, county Certificate of Use, and city BTR, and most apartment/condo buildings prohibit it outright, so the lease permission here is the operator's entire basis and must be verified in writing and at the building level. Supply risk is also real, with a heavy Brickell condo and condo-hotel pipeline (including Melia Miami Brickell condo-hotel and the 397-unit Brickell) delivering within roughly a half-mile over the next 18–24 months. Net read: a legitimate, well-positioned deal with strong per-night economics and a differentiated amenity edge, but a supply-pressured, rent-compressed margin and a fragile regulatory basis that reward disciplined underwriting over enthusiasm. 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 7 live comps we shopped on 2026-08-25. Rates are annualized from each comp's own calendar priced at four points across the year, not the single day we shopped.
Seasonal demand & event calendar
What drives the peaks: named local demand catalysts.
Live comps: what the market actually shows
- Prime walkable Brickell location
- Resort pool/spa amenities
- Responsive Superhost
- Valet-only parking friction
- Temporary building amenity closures
- Legal/licensed STR reassurance
- Luxury hotel-grade finishes
- Complimentary Nespresso + stocked fridge
- Metromover across street
- Extra cleaning/luggage fees
- Clean and bright
- Well located to restaurants
- Assigned parking convenient
- Quiet floor
- Responsive host
- Ultra-modern clean suite
- High-floor bay views
- Central Brickell location
- Hotel-style service
- Parking/valet fees
- Stunning property
- Perfect central location
- Great amenities (pool/games room)
- Spacious
- Responsive management
- Squeaky-clean modern suite
- Distant Biscayne Bay views
- Fashionable Brickell district
- Small sample size
- Hotel-condo hybrid feel
- Central downtown location
- Clean and well-equipped
- Attentive host team
- Smooth check-in
- Balcony/skyline views
Amenities: what it has, what it's missing
Amenities the top comps have that this unit is missing, ranked by revenue impact.
Winning nearby comps (Brickell Arch/AKA, District-style units) advertise complimentary Nespresso and a stocked fridge as a signature touch; the subject can match this cheaply for outsized review lift.
An Icon Brickell comp differentiates with an in-unit PlayStation and pool table; subject already has building game room and Smart TVs, so a modest in-unit console/streaming bundle closes the last gap for families/groups of 4.
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 Zoning Code, Art. 4 Table 3 (Lodging permitted in T4/T5/T6/CI-HD, incl. Apartment/Condo-Hotel use); Miami-Dade County Certificate of Use + City of Miami Certificate of Use & Business Tax Receipt required. https://www.miami21.org/ ; https://www.miami.gov/
Pending: FL SB 280 (statewide STR registration/preemption) vetoed June 2024; prior framework continues into 2026; Miami-Dade County and City of Miami periodically examining tightened STR/lodging regulation — monitor
[Cached: 2026-07-09] Lease explicitly permits STR; City of Miami requires licenses but Brickell enforcement is complaint-driven, not proactive.
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 December) | $380–460 | 3–4 nights | Highest-demand week of the year — price to the ceiling. |
| Ultra / Miami Music Week / Miami Open (late March) | $360–430 | 3–4 nights | Stacked event demand; enforce longer minimums. |
| F1 Miami Grand Prix weekend (early May) | $380–475 | 3 nights | Event peak — may exceed hotel ceiling. |
| Winter peak weekend (Jan–Mar) | $290–340 | 2 nights | Core high season; strong weekend leisure demand. |
| Winter peak weekday (Jan–Mar) | $230–270 | 2 nights | Business + snowbird mid-week; respects 4★ hotel ceiling. |
| Shoulder (Apr, Oct–Nov) | $210–250 | 2 nights | Steady blended demand; corporate mid-stays fill gaps. |
| Summer weekend (Jun–Aug) | $190–230 | 2 nights | Soft season; lean on amenities + regional drive market. |
| Summer weekday (Jun–Aug) | $160–195 | 2 nights | Trough; hotel ceiling caps upside — discount to hold occupancy. |
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.
Capital continues to pour into Brickell ($10B+ metro luxury pipeline), a leading indicator of long-run land-value and ADR-ceiling growth. Near-term, the same pipeline (condo-hotels + luxury towers within 0.5mi) is a double-edged sword — it lifts the neighborhood's premium positioning while adding competing keys over the next 18–36 months.
- Brickell (Brickell, Brickell) (397 units, ~2027 delivery — within ~0.3mi)
- Melia Miami Brickell (condo-hotel) (111 condo-hotel residences, topped off 2025, 2027 delivery — direct STR competitor)
- Cipriani Residences Miami (from ~$2.15M, 2026 delivery)
- 888 Brickell by Dolce & Gabbana (259 units, 90 floors, 2029)
- 619 Brickell (306 units, 75 floors, 2030)
- 2200 Brickell (103 units, delivered ~2025)
The analyst's take
Well-amenitized, well-located Brickell 1BR with proven demand and strong per-night pricing — but rent-compressed margins and stacked STR-licensing/supply risk demand tight underwriting before signing.
- Amenity stack (sauna, game room, EV charger, hot tub, included parking) out-features view-only comps
- Event-driven pricing (Art Basel, Ultra/Miami Music Week, Miami Open, F1 Miami GP) supports 2–3x peak premiums
- Walk Score 94 location blends steady business-travel and leisure demand
- Included parking is a genuine edge over Icon/AKA comps where valet is a top complaint
- Regulatory/licensing fragility — Miami requires zone eligibility + DBPR + county CoU + city BTR, and most buildings ban STR; lease permission must be durable and building-level lodging status confirmed
- New-supply pipeline within 0.5mi (Melia condo-hotel, Brickell 397 units, others) over 18–24 months
- High Brickell effective lease rates compress arbitrage margin (appreciation market, thin cash flow)
- Comparable buildings show recurring valet-parking friction and temporary amenity closures that dent guest ratings
What guests say: POSITIVE THEMES (across ~65 reviews from top 3 closest comps): - Location/walkability: Guests consistently praise steps-to-everything Brickell access (Metromover, dining, Brickell City Centre). - Resort amenities: Pool, spa, gym, and hot tub access are the most-cited draws. - Cleanliness & finishes: Modern, spotless, hotel-grade interiors recur across all three. - Host responsiveness: Fast, professional communication and smooth check-in noted repeatedly. - Views: High-floor bay/city views frequently called a highlight. NEGATIVE / WATCH THEMES: - Parking friction: Valet-only, no in-and-out, and 'parking is across the street' complaints are the #1 operational gripe (subject's included parking neutralizes this). - Amenity closures: Icon Brickell explicitly discloses limited pool hours/maintenance — temporary closures with no refunds frustrate guests. - Amenity-pass / front-desk hassle: QR passes, ID registration, and pickup-hour limits create arrival friction. - Extra fees: Mid-stay cleaning ($150), luggage, and resort/valet fees surprise some guests. - Occasional pest sightings: At least one nearby Brickell listing review flagged roaches — monitor pest control.
Risk & compliance checks
Every deal breaker we screen, scored on this property.
No bed bug, roach, mold, or pest complaints found in any review source for Brickell.
Brickell earns a 2026 Grade A safety rating but sits above national crime average — tolerable for STR.
Brickell is a standard apartment building with no dedicated STR infrastructure; broader Brickell market has robust STR supply at competing buildings.
[Cached: 2026-07-09] Projected STR ADR floor sits comfortably below Brickell's $269 hotel ADR benchmark.
Asking rent of $3,008 is at the lower-middle of the building's own active listing range but below the Brickell 1BR market average.
Management transition from Bozzuto to current operator produced documented service degradation; no eviction history against STR operators or bankruptcy found.
Brickell 0.25mi radius has substantial STR supply concentrated in purpose-built condo-hotel towers, likely 15–40 competing 1BR listings.
[Cached: 2026-07-09] Five-plus named, quantified demand drivers within 5mi confirmed — Downtown Miami/Brickell is Miami's strongest STR demand node.
[Cached: 2026-07-09] MIA east-flow departure corridor and Brickell nightlife create ambient noise risk; building's impact windows mitigate but do not eliminate.
[Cached: 2026-07-09] ~4,254 units in Brickell's pipeline delivering 2025–2028 — high-severity supply pressure risk to occupancy.
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 (25)
Open any to verify the data yourself.
- 01ApartmentRatings.com — Brickell · Fire alarms, package mess, stolen gym equipment cited as complaints — no pest, roach, or bug mentions across 27 reviews.
- 02Yelp — Brickell · No user questions or pest-related reviews posted for Brickell on Yelp as of May 2026.
- 03DoorProfit — Brickell Crime Rate 2026 · Brickell in Miami, FL has a crime safety grade of A as of 2026.
- 04PODS Blog — Safest Neighborhoods Miami · Brickell is considered relatively safe, with only 7 violent incidents per 1,000 residents — plus, it's been named the No. 1 neighborhood in Miami.
- 05National Corporate Housing — Brickell · Brickell Miami, FL Brickell • From $199 Per Day.
- 06Redfin — Brickell · Brickell has 27 units.
- 07Zillow — Brickell Miami FL · The Rent Zestimate for this Apartment is $3,220/mo.
- 08JMK Property Management — Brickell Market Data · 1-bedroom units average $3,350/month, while 2-bedroom condos lease for $4,400/month or more.
- 09ForRentUniversity — Brickell Active Listings · 1 Bed, 1 Bath, Brickell Ft. — units priced at $2,705, $2,815, and $3,055.
- 10BNBCalc — Brickell STR Regulation Guide · Enforcement actions like fines are relatively rare unless a host racks up multiple neighbor complaints.
- 11Guestable — Miami STR Regulations 2026 · These City of Miami Airbnb regulations are strictly enforced by local authorities.
- 12Yelp — Brickell by Bozzuto (CLOSED) · Now managed by Bozzuto — listing now marked CLOSED, confirming management transition.
- 13Miami Realty Solution — STR-Friendly Buildings · Icon Brickell Tower 3 (Brickell) – Daily rentals allowed (W Miami tower); The Club at Brickell Bay (Brickell) – Airbnb-friendly, no restrictions.
- 14BlueBay Brokers Brickell — STR Management · 78% avg occupancy, $385/night, $112k+ annual revenue per unit.
- 15Apartments.com — Brickell proximity data · Brickell has 3 hospitals within 6.2 miles, the nearest is Jackson Health System which is 2.6 miles away.
- 16Apartments.com — Brickell location · Brickell is within 4 minutes or 1.6 miles from Miami Dade College, Wolfson.
- 17Airbnb — Brickell listings · Exterior building work is underway. Jan – Dec 2026. Balconies temporarily inaccessible, intermittent daytime construction noise.
- 18Airbnb comp #1 · Brickell 1BR · Bay & City Views · Sleeps 4 (Icon Brickell)
- 19VRBO comp #2 · Brickell Arch Marriott Luxury Collection, 1-bedroom Suite
- 20VRBO comp #3 · Luxury Condo in Miami - Brickell!
- 21VRBO comp #4 · Hotel AKA #3111 · Beautiful 1 Bedroom Brickell Condo
- 22Booking comp #5 · Penthouse with Ocean and City Views, Lux Miami Brickell (Sleeps 4)
- 23Booking comp #6 · Beautiful 1 Bedroom Brickell (AKA, 31st floor)
- 24Booking comp #7 · Brickell Apartments with Oceanview (1BR)
- 25STR 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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