Miami Art Week 2026Upcoming
9 exhibitions within 1 mile
Art Week Score 61 · #78 in South Beach
#78 in South Beach · #100 in Miami
Nearest: Modern Design Across Borders, 0.4 mi away
For sale
1
0 pending
Median asking
$599K
from $599K
Median $/sqft
$614/sqft
Days on market
81
0 sold in 12 months
The Terrace is a boutique condominium building located in Miami Beach. Constructed in 2007, the building features modern construction and has undergone recent improvements including a new roof, concrete restoration, and a complete interior and exterior repainting.
The property includes two rooftop terraces and is situated near Flamingo Park, local restaurants, and grocery stores. The building is equipped with impact windows and doors.
Live near more of Miami
What surrounds The Terrace: seasonal events, annual programs and lifestyle indexes, measured from the building.
Publix IndexLive now
66 / 100
Nearest Publix: Publix at Fifth & Alton, 0.4 mi
#43 in South Beach · #179 in Miami
A short stroll, and Miami strolls are a commitment.
2 Publix stores nearby
Distances are straight-line, not walking or driving.
Getting around
South Beach is a walkable urban neighborhood. Transit, parks, dining and landmarks within reach:
Ocean DriveLincoln RoadSouth Pointe ParkMiami Beach BoardwalkEspañola Way
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Get new listings here before the portals, and a straight answer from someone who knows the building.
Inventory
Sold $/sqft trend
3-month rolling median of closed sales in The Terrace; bars are closings per month.
Location
Nearby buildings within half a mile.
Building facts
- Address
- 945 Michigan Ave
- Year built
- 2007
- Floors
- 4
- Residences
- 8
- Developer
- Waterstone Capital
- Waterfront
- No
Amenities
- · Rooftop terraces
Building rules
- Parking
- The building offers assigned indoor, covered, and secured parking.
Special assessments & recertification outlook
WatchPublic records checked Oct 28, 2026: no liens, lawsuits or regulatory complaints found for the association.
- Built 2007 — its first 25-year structural milestone inspection is due around 2032
Estimated from The Terrace’s age and signals in active listings — not an official inspection or reserve report. Always verify the building’s milestone-inspection status and reserves with the association before buying.
Financeability
What the banks say about The Terrace: recorded purchase mortgages, the down payments they accepted, and the programmes in use.
No bank mortgages recorded here in the last two years. That is not a verdict on the building — many condos trade for cash — only the absence of a signal.
Source: Miami-Dade County official records and the FHA/VA approval lists. Aggregates only; individual instruments are never shown. Compare with South Beach
Flooding and storm surge
Public flood data at this building’s location, read Oct 22, 2026.
- FEMA flood zone
- Zone AE: high-risk area. FEMA maps a 1% yearly chance of flooding here.
- Base flood elevation on the map: 8.0 ft (NGVD29).
- Hurricane evacuation zone
- Zone B
- Miami-Dade storm surge planning zones run from A (called first) to E. The county decides which zones evacuate in a storm.
- Ground at the building
- 3.6 ft
- Lowest nearby street
- 2.8 ft
- Highest predicted tide, 2026
- 1.0 ft
Elevations in feet above the NAVD88 datum.
The lowest street next to this building sits 1.8 ft above this year’s highest predicted tide (Oct 27, 2026).
Estimated from public data, not a flood determination. Check the FEMA flood map and an elevation certificate for this building.
Legal & Regulatory
No material litigation foundCivil court cases involving the condominium association, classified by what they are about. Routine collections against individual owners are counted separately and do not affect the building’s standing.
- Active material lawsuits
- 0
- Owner / association disputes
- 0
- Routine collection cases
- 0
- DBPR complaints
- 0
- Open DBPR complaints
- 0
No civil cases involving the association were found on the Miami-Dade docket in the last five years.
DBPR registration PR69710 · Approved,Recorded. Public complaints on record with the Florida Division of Condominiums; investigations are confidential and not counted.
Court records are matched to the association by name and summarized by us; a case is a claim, not a finding. Ask the association for its litigation disclosure before buying.
Frequently asked
How much do condos at The Terrace cost?+
There are 1 condos for sale at The Terrace, from $599,000, with a median asking price of $599,000 ($614/sqft).
How much are the HOA fees at The Terrace?+
HOA / maintenance fees at The Terrace run around $1,456 per month among units currently for sale; the exact fee varies by unit size and line, so confirm the current amount with the listing or the condo association.
When was The Terrace built?+
The Terrace was built in 2007, 4 stories, 8 residences.
Who developed The Terrace?+
The Terrace was developed by Waterstone Capital.
Stay ahead
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If you like The Terrace, compare
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