North Bay Road Miami Beach has long been known as THE premiere Miami Beach street. One of Miami Beach's founders built his collosal waterfront home on N Bay Road in the 1930s.
Current North Bay Road residents include A-list entertainment stars from around the world. I won't list them here, but just think big. They have homes on N Bay Road.
Dry lot homes start around $650,000 and run up to $2,000,000 or so. As of May 2009, North Bay Road waterfront homes start at $4,350,000 and run as high as $20,000,000.
Lower North Bay Road (20th Street to 37th Street) has its advantages. Waterfront homes are shielded from Biscayne bay by the Sunset Islands. In addition, you can walk to the new Publix to grocery shop and walk or bike to Lincoln Road.