Brickell
General area shown. The exact address and Airbnb-approved building are shared under NDA when you reserve or book a call.
Miami, FL1BR1BA798 sqft$3,500/mo lease
Worth acquiring. The numbers clear our bar with room to spare.
Operating profit, before the one time startup capital ($39,000), which the ROI and payback above already account for.
Executive summary
Brickell is one of the deepest urban STR demand markets in the U.S., with a genuinely stacked 2026 calendar (FIFA World Cup Fan Fest at Bayfront Park, F1, Ultra, Art Basel) and strong weekday corporate demand from the financial district — per-night economics for a well-run 1BR here are respectable and the amenity backdrop is best-in-class. The disqualifying issue is legal footing: the subject address (465 Brickell = Icon Brickell Tower 1) restricts leases to a 6-month minimum under the condo documents, and only Tower 3 (485 Brickell / W-Viceroy) permits daily rentals — so nightly operation at this exact unit is very likely non-compliant unless it is actually in the daily-rental tower or the lease and association expressly allow it, and the lease's STR permission is flagged UNSURE. Our operating comps (Icon, Icon Residences, Hotel AKA) sit modestly above the Deep STRfax trailing-year actuals (roughly +9% on ADR and +8% on occupancy — inside tolerance, so no material conflict), but on those numbers the cash-flow is thin after Brickell's high base rent and management load, and a live facade/pool renovation across the Icon complex through 2026 is currently suppressing amenity access and denting reviews. Net read: this is a strong market but a weak specific-address bet for nightly STR; do not commit until the tower, the association rental term, and the lease STR clause are confirmed in writing, and treat a compliant 30-day/6-month furnished corporate lease as the realistic fallback here. 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.
These come from our standard market read. The deep comp shop found 1 usable listing, under the 6 we require before a comp shop is allowed to set the numbers.
Seasonal demand & event calendar
What drives the peaks: named local demand catalysts.
Live comps: what the market actually shows
7 of 8 listings left out, their nightly rate wasn't clear
- Unbeatable walkable location
- Pool/spa amenity access
- Clean & accurate
- Responsive host / self check-in
- Building construction limiting pool & balcony hours
- Hotel-grade service
- Great Brickell location
- On-site dining/spa
- High cleanliness
- Valet cost noted
- Central location
- Good value
- Sleeps a group
- City views
- Some wear noted
- Monthly-minimum stay only
- Amenity-rich building
- Quiet-hours/no-party rules
- Thin review base
- Thin review base (new listing)
- Icon amenity access
- All-fees-included pricing
- Well-equipped refined unit
- River/city views
- Responsive management
- Great location
- Low-cost parking noted
- Loved by guests (top 10% area)
- Spectacular city views
- Hotel amenities
- Clean & modern
- Great host
- Exceptional location
- Walk to Brickell City Centre
- Comfortable
- Good value
- Compact unit
- Rooftop pools & spa
- Central downtown location
- Skyline views
- 24h security
- Building-amenity focus
- Luxury hotel building
- 2-night minimum
- $150 mid-stay cleaning fee
- Central Brickell
- Great views
Amenities: what it has, what it's missing
Amenities the top comps have that this unit is missing, ranked by revenue impact.
Top comps (Icon 54074001, Brickell House) explicitly advertise a dedicated workspace, and Brickell's financial-district guests are heavily corporate/business travelers. A proper desk + ergonomic chair converts weekday business demand the subject would otherwise miss.
Icon and AKA comps lead with keyless self check-in; guests reward frictionless arrival. Reduces operational load and improves check-in review scores.
VRBO Icon Residences comps tout 100+ channels plus Netflix/Prime/HBO as a selling point; low-cost parity item that shows up in positive 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.
Regulatory & landlord read
Is short term rental legal here, and who owns/manages the building.
Miami-Dade County Code Sec. 33-28 (short-term vacation rentals) + City of Miami Certificate of Use / Business Tax Receipt & Miami 21 zoning; FL Stat. 509.032(7)(b) state preemption. https://www.miamidade.gov/building/standards/residential-short-term-vacation-rentals.asp
Pending: FL SB 280 (statewide STR registration/preemption expansion) was vetoed June 2024 and did not take effect; the pre-existing state+local framework continues into 2026; No new City of Miami STR ordinance change found in the last 6 months
Flags: Individual unit-owner/landlord LLC not identifiable from public listings; Icon Brickell Condominium No. One Association shows unresolved BBB complaints (2 unanswered) — building-management, not unit-owner, signal
High-severity risk: Tower 1 CC&Rs require 6-month-plus leases and cap owners at one rental per year — structurally incompatible with nightly STR.
Seasonal pricing rate card
Suggested ADR targets by season and the named local events that drive the peaks.
| Period | ADR target | Min stay | Note |
|---|---|---|---|
| FIFA World Cup window (Jun 13 – Jul 19, 2026, Fan Fest at Bayfront Park) | $380–475 | 3–4 nights | Once-per-cycle demand spike; downtown Fan Fest steps away — price aggressively, long min-stay. |
| Peak event weekends (F1 early May, Ultra late Mar, Art Basel early Dec) | $340–450 | 3 nights | City-wide sellouts; STR can exceed the hotel ceiling on these dates. |
| Winter high season weekend (Jan–Mar / holiday Dec) | $260–320 | 2 nights | Snowbird + event season; strongest recurring weekend pricing. |
| Winter/spring weekday | $195–240 | 2 nights | Anchor near the 4-star hotel midweek ceiling; corporate is the unlock. |
| Summer weekend (non-event) | $210–260 | 2 nights | Leisure + Latin American travel keep summer firmer than most US markets. |
| Summer weekday | $165–205 | 2 nights | Hotel ceiling caps this; lean on mid-stay corporate. |
| Shoulder (Sep–Oct, softest) | $155–195 | 2 nights | Lowest-demand window; discount to hold occupancy, target 7+ night stays. |
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 is pouring into Brickell branded residences (D&G, Mercedes-Benz, St Regis, Baccarat, Breitling), a strong long-run land-value signal. Near-term STR-competitive supply comes mainly from condo-hotels (Melia, 2200 Brickell North, Viceroy) that can rent nightly — a headwind on ADR but a bullish sign for the submarket's trajectory.
- 888 Brickell (Dolce & Gabbana branded tower) · residences from ~$2.17M (under construction, est. 2027)
- Mercedes-Benz Places Brickell (under construction, est. 2027)
- 2200 Brickell (condo-hotel + residences) · units from $3.9M (~85% presold, delivering summer 2026)
- Melia Miami Brickell (condo-hotel, 111 units) (topped off, est. 2027)
- The Residences at 1428 Brickell (189 units) (est. 2026)
- Viceroy Brickell Residences · from ~$630,900 (est. 2026)
The analyst's take
Brickell has the demand — but 465 Brickell is Icon Tower 1, where a 6-month-minimum rule makes nightly STR a compliance problem, not a pricing one.
- Elite 2026 event calendar (FIFA World Cup, F1, Ultra, Art Basel) supports strong event-week pricing
- Financial-district corporate travel underpins mid-week and mid-term demand
- Icon's amenity stack (pool/spa/gym/sauna/theater/restaurants) is a real differentiator IF operation is permitted
- Fully compliant pivot: 30-day+ furnished / 6-month corporate lease captures Brickell's deep executive rental pool
- 465 Brickell is Icon Tower 1 — condo docs impose a 6-month-minimum lease; nightly STR is likely non-compliant here
- Lease STR permission is UNSURE — operating could trigger association fines and lease termination / eviction
- Active Icon facade & pool renovation through 2026 limits balcony/pool access and is showing up in reviews
- Deep pipeline of daily-rental-approved condo-hotels (Tower 3/W, AKA, YOTEL, Elser, Melia, 2200 Brickell) competes directly on ADR
- Occupancy caps at ~4 and the unit sleeps 4 — no upside from larger groups
What guests say: POSITIVE THEMES (across ~75 reviews from Icon, Icon Residences 43FL and Hotel AKA): - Location: consistently praised — walkable to Brickell City Centre, Mary Brickell Village, dining and the bay. - Amenities: pool deck, spa, sauna and gym access are the headline draw for guests. - Views: bay/river/city skyline views repeatedly called out as a highlight. - Host/communication: responsive hosts, smooth self check-in, accurate listings. - Cleanliness: high marks across the top comps. NEGATIVE / WATCH THEMES: - Building construction: Icon's 2026 facade renovation limits balcony use and restricts the main pool to weekends — a recurring, host-disclosed irritant; mitigate with upfront disclosure and a rate discount during works. - Parking/valet: no in-and-out, per-exit valet fees and unclear pricing surprise guests; pre-brief on cheaper nearby garages. - Amenity-pass friction: QR/guest-card pickup windows and building registration add check-in steps. - Occasional value complaints when amenities are partially closed.
Risk & compliance checks
Every deal breaker we screen, scored on this property.
No building-specific bed bug or roach reports found, but Brickell high-rises and STR units carry elevated pest risk per exterminators.
Brickell grades A for safety but crime runs above city average and residents report rising homeless-related incidents.
Icon Brickell STR listings exist but draw recurring complaints on check-in chaos, cleaning, humidity/AC and facade-repair noise.
Comp-implied 1BR ADR (~$280–300) sits comfortably above the median 3-star Brickell hotel, preserving cushion.
1BR Icon Brickell long-term rents cluster ~$3,295–$3,700; comp set is deep and stable in a healthy rental market.
No eviction filings, LLC bankruptcy, or STR-operator lawsuits tied to this specific unit or landlord were surfaced.
Same-bed STR competition within 0.25mi is heavy (15–40+ 1BR listings) across dense Brickell towers.
Five-plus named, quantified demand drivers within 5mi; Brickell is Miami's financial and entertainment core.
Airport departure corridor overhead, dense Brickell nightlife nearby, and active facade construction through ~Q1 2027 create real noise caution.
High-severity supply risk: ~4,254 units in Brickell's pipeline delivering 2025–2028, far above the 300-unit threshold.
FEMA Zone AE (flood insurance required) is the key insurance flag; no unresolved code-violation cluster or EPA designation found.
Brickell values and desirability are rising, not declining; strong income base and continued investment support the trajectory.
Sources: every figure links back (31)
Open any to verify the data yourself.
- 01Dever Pest Control – Brickell · bed bugs in STR units (very common in Brickell)
- 02Local10 Dirty Dining · roaches in the onions, rodent droppings near clean utensils... mold buildup
- 03DoorProfit Brickell Crime · safety grade of A. Crime is 50% above the national average
- 04Local10 News · raising questions about safety in one of Miami-Dade County's fastest-growing neighborhoods
- 05Tripadvisor – Icon Brickell Residences · musty, humid, hot... AC clearly felt broken... windows were ALL covered in tattered plastic tarps
- 06Airbnb Brickell listings · Due to facade repairs starting July 1st, expect some noise between 8:00 AM and 5:30 PM
- 07Cached from prior Revarity research · 2026-07-07
- 08Tripadvisor forecast · hotel's expected rate of $140/night
- 09Zillow – Brickell · listed for rent at $3,295/mo... Brickell Feet... 1 bed, 1 bath
- 10MiamiResidence MLS A12048984 · Icon Brickell Tower 1 Condo for Rent $3,700; 1 bedroom, 1 bath, 816 sq.ft.
- 11MiamiCondoInvestments Tower 1 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.
- 12Icon Brickell FAQ · Tower 1 condo owners may rent their units for a term no less than six (6) months... Tower 3... Short-term rentals are permitted.
- 13Cached from prior Revarity research · 2026-07-07
- 14Airbnb Brickell · one bedroom condo... Includes amazing amenities from Icon Brickell, olympic pool, jacuzzi outdoor
- 15Cached from prior Revarity research · 2026-07-07
- 16Apartments.com – 465 Brickell · within 14 minutes or 0.8 mile from Miami Dade College, Wolfson
- 17Cached from prior Revarity research · 2026-07-07
- 18Cached from prior Revarity research · 2026-07-07
- 19Apartments.com – Icon Brickell · fast becoming the hottest neighborhood in Miami... best places in South Florida to live, work, and play
- 20Momentum Luxury RE – Brickell · has tripled in population since 2000
- 21Airbnb comp #1 · Brickell 1BR · Bay & City Views · Sleeps 4 (Icon Brickell)
- 22Airbnb comp #2 · Luxury 1BR at Hotel AKA Brickell
- 23Airbnb comp #3 · Luxury apartment in Brickell, Miami (1BR/3 beds)
- 24Airbnb comp #4 · Brickell House, Sophisticated, Heart of Brickell
- 25VRBO comp #5 · ICON BRICKELL 5* condo — free Pool/Spa/Gym (Sleeps 4)
- 26VRBO comp #6 · Icon Brickell Residences, 43FL — above the W
- 27VRBO comp #7 · Luxury 1-bedroom in Hotel AKA Brickell Residence
- 28VRBO comp #8 · Luxury Condo in Miami - Brickell!
- 29Booking comp #9 · Brickell Apartments with Oceanview — 1BR
- 30Expedia comp #10 · Luxury 1BR in Hotel AKA Brickell Residence (28th fl)
- 31STR 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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