945 Michigan Ave · Miami Beach, FL 33139 · South Beach

The Terrace

4-story low-rise, completed 2007, 8 residences in South Beach. 1 for sale on Nov 2, 2026.

Tell me your unit and I'll prepare its value myself, from The Terrace's closed sales and what is listed now. Then we talk it through.

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When a unit at The Terrace lists or sells, I'll let you know. I send these myself, not a robot.

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At a glance The Terrace (945 Michigan Ave, South Beach) is a 4-story, 8-unit building completed in 2007. As of Nov 2, 2026, 1 unit is for sale and none for rent; the median rent was $3,450 a month over 6 leases in the last 24 months. FEMA flood zone AE. Source: Miami Assoc. of REALTORS® MLS via Bridge IDX, Miami-Dade Property Appraiser records and the FEMA flood map.

Photo · MLS listing in this building

For sale
1
For rent
0
Median rent
$3,450/mo6 leases · 24 mo
Sales on record
3since 2021
Built
2007
Floors
4
Residences
8county
Flood zone
AEFEMA
Owner-occupied
25%
Avg. unit
904sq ft

MLS via Bridge IDX · as of Nov 2, 2026 · How these numbers are made

On the market at The Terrace.

The weekly MLS snapshot, newest asks first. Each unit opens its full listing: photos, taxes, history. Or check the live feed for today's inventory.

Snapshot as of Nov 2, 2026.

Listings matched to this building's recorded addresses. I don't have to be the listing agent to show you any unit or to negotiate for you. Search condos in 33139

The read on The Terrace.

Activity as of Nov 2, 2026
  • A quiet record. The most recent sale on record closed Apr 2, 2024; 3 sales are on record since 2021.
Read the full record 4 paragraphs and 10 facts, every figure from the MLS and county record

The Terrace is a low-rise condominium of four floors at 945 Michigan Ave in South Beach, built in 2007. County folio records count eight residences, averaging 904 SF of living area.

One unit was for sale on November 2, 2026, asking $599K (that is $614/SF). The MLS shows no closed sale here since April 2024.

One lease was signed between November 2, 2025 and November 2, 2026, at $3,600 a month.

County records show 25% of residences as owner-occupied, which points to an investor-heavy ownership base.

Sources: Miami Assoc. of REALTORS® MLS via Bridge IDX (activity as of November 2, 2026), Miami-Dade Property Appraiser records. Blanks mean the record doesn't state it; nothing here is estimated.

The record

Address
945 Michigan Ave, Miami Beach 33139
Neighborhood
South Beach
Year built
2007
Floors
4
Residences (county-verified)
8
Owner-occupied
25% of residences
Avg. unit size
904 sq ft
Total living area
7,232 sq ft
County condo folios
8
Recorded MLS listings
23

The numbers at The Terrace.

Every sale and lease the MLS has recorded at this address, sales first.

MLS via Bridge IDX · as of Nov 2, 2026

Median $/SF by year closed

Every recorded sale at this address, 2021 to 2026. Count in the tooltip.

$231$461$2622021$4612022$4612024$231$461$2622021$4612022$4612024

Pale bars: fewer than three sales that year, so the bar is the sale itself or the average of two, too few for a median.

Year by year, every recorded closing
YearSalesMedian $/SFLeasesMedian rent
2026 (to date)––1$3,600/mo*
2025––4$2,850/mo
20241$461*2$3,700/mo*
2023––3$3,500/mo
20221$461*1$4,500/mo*
20211$262*2$1,975/mo*
2020––5$2,000/mo

* Fewer than three closings that year: the figure is the closing itself or the average of two, too few for a median.

Show all closings 3 sales · 18 leases on record since 2021

Closed sales

No closed sale in the 24 months to Nov 2, 2026. The most recent on record closed Apr 2, 2024; 3 sales are on record since 2021.

Leases signed Nov 2, 2025 to Nov 2, 2026 · 1

UnitBDBASFAsked/moLeased/mo$/SF/moLease dateDOM
522976$3,600/mo$3,600/mo$3.69Aug 14, 202622

Data: Miami Assoc. of REALTORS® MLS via Bridge IDX, as of Nov 2, 2026. Listings matched to this building's recorded addresses; pending includes under-contract. Closed listings shown as records only, no photos. Blanks mean the record doesn't state it. How these numbers are made

The file on The Terrace.

The rules on record, the documents in my files, the two Florida checks every buyer should run, and the buildings around it. Each card opens.

FEMA flood zone

AE

Inside FEMA's Special Flood Hazard Area. A federally backed mortgage requires flood insurance here.

What the zone means
  • The 1% annual chance ("100-year") flood area, with a base flood elevation set.
  • Base flood elevation 8 ft (NGVD29).
  • The zone is a map line, not a premium. Ask the association for its master flood policy, and get a flood quote for the specific unit before you commit.

FEMA National Flood Hazard Layer, checked at the building's mapped location on Oct 12, 2026. Open the official map ↗

Milestone structural inspection

Due 2037

Due by statute by December 31, 2037, 30 years after 2007, then every 10 years.

What the deadline means
  • Miami-Dade sets 25 years for condo buildings within three miles of the coastline, which would be December 31, 2032.
  • Based on year built 2007 (county record). The statute counts from the certificate of occupancy date, which can differ.
  • The association must give every owner the inspector's summary. Ask for it, and for the structural integrity reserve study, before you commit.

Fla. Stat. § 553.899(3) ↗ and Miami-Dade recertification ↗, read Oct 9, 2026. What the deadline means for buyers

Nearby

Around The Terrace

5 more nearby

Smaller buildings close by: Michigan Th (20 m) · Mango on 10th (70 m) · Nine45 A (110 m) · Yuba (130 m) · Monticello (130 m) · Mayfair Villas (170 m)

Compare with the two nearest →Every South Beach building →Distances are straight-line. Building data from Miami Assoc. of REALTORS® MLS records via Bridge IDX.

Own here, or looking here

Owners: tell me your unit and I'll prepare its value myself. Buyers and renters: I'll tell you when a unit here lists or sells. Either way it starts a conversation with me, not a mailing list.

Own here?

Get your unit's value

Tell me your unit and I'll prepare its value myself, from The Terrace's closed sales and what is listed now. Then we talk it through.

Phone or email. One is enough.

Thinking about

Goes to Enrique only. No mailing list.

Looking here?

Get alerts when a unit lists or sells

When a unit at The Terrace lists or sells, I'll let you know. I send these myself, not a robot.

Phone or email. One is enough.

Alerts for

Goes to Enrique only. No mailing list.

Enrique Ponte Ojeda on a balcony overlooking the water in Miami
I read the building before you buy or sell a unit in it.Closed history, the association's rules, what is really for sale and what it should trade at. Then we talk.
Enrique Ponte Ojeda
Licensed Florida Real Estate Agent · Carmona Realty Group

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Call / Text786-578-6900 Emaileponteojeda@gmail.com