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Waterfront · Condominium
$2,199,000$1,168 / sqft
9940 W Bay Harbor Dr, Bay Harbor Islands FL 33154
Listed
3
Bedrooms
3
Bathrooms
1,882 sqft
Interior
2016
Year built
$2,814 / mo
HOA
Condominium
Type
About this home
Welcome to the crown jewel of KAI — a stunning 7th-floor penthouse corner residence offering the rarest combination in Bay Harbor Islands: spectacular Southwest-facing panoramic views of Biscayne Bay, the Intracoastal, and the canal, with a boat slip available for purchase. This expansive 3-bed/3-bath residence spans 1,882 SF with an open, airy layout flooded with natural light. Beautifully appointed throughout — MiaCucina cabinetry, quartz countertops, Bosch appliances, marble baths with dual sinks, walk-in closets, impact glass, and elegant tile floors. In-unit washer/dryer. Two side-by-side assigned garage spaces. KAI is a boutique 7-story building designed by Arquitectonica featuring a rooftop infinity-edge pool, spa, BBQ terrace, fitness center, 24-hour concierge, and marina. Pet friendly. Steps to the beach, Bal Harbour Shops, top restaurants, and A+ rated Ruth K. Broad K-8 Center. Easy access to Aventura, Sunny Isles, and Miami Beach. Unfurnished and move-in ready. A rare opportunity — penthouse views, two side-by-side parking spaces, boat slip available, and turnkey luxury all in one address.
Features
- First Floor Entry
- Closet Cabinetry
- Elevator
- Fire Sprinklers
- East Of Us1
- Canal
- Intracoastal View
Leasing
- Minimum lease
- 180 days
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 $3,250–$12,000.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.