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Waterfront · Condominium
$1,999,999$1,091 / sqft
9940 W Bay Harbor Dr, Bay Harbor Islands FL 33154
Listed
3
Bedrooms
3
Bathrooms
1,834 sqft
Interior
2016
Year built
$2,746 / mo
HOA
Condominium
Type
About this home
PENTHOUSE CORNER RESIDENCE AT KAI — BAY HARBOR ISLANDS Rarely available penthouse corner unit in one of Bay Harbor’s most sought-after boutique buildings. This 3-bed/3-bath residence offers 1,834 SF of turnkey living with sweeping panoramic views of Biscayne Bay, the Intracoastal, and the Miami skyline. West-facing exposure frames spectacular sunsets every evening, and the oversized corner layout fills every room with natural light. Offered fully furnished — just bring your toothbrush. Features include a chef’s kitchen with premium appliances, walk-in closets, wood floors throughout, impact doors, and two assigned parking spaces. KAI delivers resort-style living: heated pool, spa, rooftop BBQ terrace with bay views, fitness center, bike storage, business center, and 24/7 lobby attendant. Pet friendly. Walk to the beach and Bal Harbour Shops, with Aventura, Sunny Isles, and Miami Beach minutes away. Served by highly rated Miami-Dade public schools. Investors: rent-ready from day one, with an estimated rental value of $9,000/month. A true penthouse at one of Bay Harbor’s most exclusive addresses.
Features
- First Floor Entry
- Closet Cabinetry
- Elevator
- Fire Sprinklers
- East Of Us1
- Bay
- Canal
- Intracoastal View
Leasing
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 3-bed rentals across Miami-Dade, from 200 active listings; the middle half ask $3,000–$11,500.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.