Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1025 71st St Miami Beach, FL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime location with high visibility and foot traffic.

    Type:RETAIL
    Property size:
    3,018 SF
    Lot size:
    0.09 Acres
    Added:
    Mar 11, 2024
    Days on Market:
    780
    Last Refresh:
    Apr 5 at 11:17 pm

    Property Features for 1025 71st St

    General Information

    Standard status
    Active
    Size
    3,018 SF
    Lot size
    0.09 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1025 71st St Contact us

    We can help!

    Listing Contact
    Aaron Butler

    Listing agent Aaron Butler

    Listing office Avenue Real Estate Partners

    Listing date Mar 11, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Avenue Real Estate Partners

    Overview

    Miami Beach Retail/Restaurant Space

    This 3,018-square-foot retail or restaurant space is situated in the Normandy Isle section of Miami Beach on 71st Street, a main thoroughfare connecting Miami Beach to the mainland. The location benefits from high visibility and foot traffic in a busy commercial area. The property is adjacent to the North Beach Town Center developments, which include thousands of new apartments under construction or planned. The site, formerly a Chase Bank, offers an excellent branding opportunity and ample City of Miami Beach parking. An expansive outdoor seating area is available, and weekly farmers market and shop activations take place at the fountain. The location benefits from 41,000 of annual average daily traffic.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1345
    Latitude
    25.756

    Nearby Similar for Lease

    • $1,500/Mo

      Miami Beach Shared Office Space

      Shared office space in oceanfront condo, ideal for medical use.
      2555 Collins Ave, Miami Beach, FL 33140
      View Details
    • $1,500/Mo

      North Beach Shared Office Solution

      Short-term shared office spaces in North Beach, available for lease.
      6930 Collins Ave, Miami Beach, FL 33141
      View Details
    • $8,250/Mo

      Miami Beach Commercial Space

      Prime commercial space in high-demand Miami Beach location.
      924 71st Street, Miami Beach, FL 33141
      View Details
    • $2,859/Mo

      Miami Beach Office Space For Lease

      Office spaces available in North Beach with flexible lease terms.
      6936 Collins Ave, Miami Beach, FL 33141
      View Details
    • $8,000/Mo

      Miami Beach Office Space For Lease

      Office spaces available in North Beach with flexible configurations.
      6930 Collins Ave, Miami Beach, FL 33141
      View Details
    • $10,368/Mo

      Retail Space in Miami Beach

      Prime retail space in a vibrant, high-traffic Miami Beach location.
      1218 Washington AVE, Miami Beach, FL 33139
      View Details
    • $50 SF/Yr

      Miami Beach Commercial Building Lease

      9,480 SF commercial building for lease in Miami Beach.
      1214 Alton Rd, Miami Beach, FL 33139
      View Details
    • $58 SF/Yr

      Miami Beach Retail Opportunity

      Retail space available in Miami Beach, Florida.
      1215 West Ave, Miami Beach, FL 33139
      View Details
    • $100 SF/Yr

      Miami Beach Commercial Space

      Prime commercial space in Miami Beach's Sunset Harbour neighborhood.
      1400 20th St, Miami Beach, FL 33139
      View Details
    • $37 SF/Yr

      Renovated Retail Space in Miami Beach

      Prime retail space in a renovated Miami Beach building.
      1191 71st St, Miami Beach, FL 33141
      View Details
    • $13,194/Mo

      Equipped Restaurant Space in Miami Beach

      Turnkey restaurant space for lease in a high-traffic location.
      1216 Washington AVE, Miami Beach, FL 33139
      View Details
    • $37,000 SF/Yr

      Miami Beach Office with Terrace

      Sophisticated office space with high ceilings and outdoor terrace.
      6930 Collins Ave, Miami Beach, FL 33141
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime location with high visibility and foot traffic.
    Where is this retail space located?
    The property is located at 1025 71st St Miami Beach, FL.
    What are key features of this property?
    This property features: Prime retail/restaurant location on 71st Street, a main artery connecting Miami Beach to the mainland.; Adjacent to booming North Beach Town Center developments with thousands of new apartments.; High foot traffic in a busy commercial area.
    (305) 397-8012 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Aaron Butler
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!