South Beach Mixed-Use
1200 Washington Ave Miami Beach, FL 33139
For Sale
$14,899,999
Pending
Two-story, 30,000 SF mixed-use property in vibrant South Beach.
Property Size30,000 SF
Days on Market95
Property Features for 1200 Washington Ave
General Information
Standard status
Pending
Size
30,000 SF
Property subtype
Commercial
Building Details
Year Built
1947
Listing Agency:
APEX Capital Realty LLC
(305) 570-2600
Listed By:
Miguel Pinto · License #A12015724
(305) 570-2600
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 27 at 8:26AM
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 APEX Capital Realty LLC
Investment Insights
Based on property information with market context.
Located in the heart of South Beach, 1200 Washington Avenue is a two-story mixed-use property with approximately 30,000 square feet. The property has a history of strong occupancy with tenants such as Toni’s Sushi, Chase Bank, and executive office users. Recent capital improvements include a full roof replacement. The property offers redevelopment potential due to CD-2 zoning and newly approved density increases along the Washington Avenue corridor, making it suitable for mixed-use or residential expansion while retaining retail space. The location is surrounded by public and private investments, including the revitalization of Flamingo Park, new hospitality developments, and large-scale projects such as Five Park and the Raleigh redevelopment. This property is suitable for investors, developers, or end users seeking a high-visibility asset with long-term upside in an active commercial district of Miami Beach. The location has a walk score of 95, indicating it is a walker's paradise, a bike score of 77, indicating it is very bikeable, and a transit score of 59, indicating good transit options.
Key Highlights
- Prime South Beach location with high visibility.
- Significant redevelopment potential due to CD‑2 zoning and density increases.
- Stable income from established tenants including Toni’s Sushi and Chase Bank.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.37M | $45.60 |
| − Vacancy | −$307.8k | −$10.26 |
| EGI | $1.06M | $35.34 |
| − OpEx | −$265.1k | −$8.84 |
| NOI | $795.2k | $26.51 |
30,000 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$11.36M
$9.94M – $13.25M
NOI $795,150 @ 7.0% cap · market cap 5.34%
Second Best
Mixed Use
$7.39M
$6.47M – $8.63M
NOI $517,500 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$15.22M
$13.32M – $17.76M
NOI $1,065,419 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story, 30,000 SF mixed-use property in vibrant South Beach.
Where is this mixed-use property located?
The property is located at 1200 Washington Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $14,899,999.
What are key features of this property?
This property features: Prime South Beach location with high visibility.; Significant redevelopment potential due to CD‑2 zoning and density increases.; Stable income from established tenants including Toni’s Sushi and Chase Bank.
