Two-Story Retail and Office
1200 Washington Ave Miami Beach, FL 33139
For Sale
Contact for pricing
Two-story commercial building with first-floor restaurant use and second-floor small offices, recently with a replaced roof.
Property Size28,490 SF
Price / SF$522.99
Days on Market343
Property Features for 1200 Washington Ave
General Information
Standard status
Active
Size
28,490 SF
Property subtype
RETAIL
Listing Agency:
Marcus & Millichap | Fort Lauderdale
(954) 245-3465
Listed By:
Douglas K. Mandel · License #SL3090637
(954) 245-3465
Source:
Moodyscre
Added: Aug 21, 2025
Changed: Jul 28
Last Checked: Jul 28 at 12:24PM
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 Marcus & Millichap | Fort Lauderdale
Investment Insights
Based on property information with market context.
This two-story commercial building offers a mix of restaurant space, a Chase ATM, and small offices on the second floor. The property totals approximately 30,000 square feet and has historically maintained strong occupancy. The roof was recently replaced.
Located in the heart of South Beach, the building is positioned for high-visibility retail and food-service activity with day-to-day convenience from its on-site ATM and supporting second-floor office space.
The existing layout supports a combination of street-level restaurant operations and smaller office users upstairs, creating an income mix within a single, well-maintained two-story structure.
Located in the heart of South Beach, the building is positioned for high-visibility retail and food-service activity with day-to-day convenience from its on-site ATM and supporting second-floor office space.
The existing layout supports a combination of street-level restaurant operations and smaller office users upstairs, creating an income mix within a single, well-maintained two-story structure.
Key Highlights
- Approximately 30,000 SF two‑story commercial building with historically strong occupancy
- First‑floor includes restaurant use
- Second‑floor features small offices favored by local businesses
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 | $1.30M | $45.60 |
| − Vacancy | −$292.3k | −$10.26 |
| EGI | $1.01M | $35.34 |
| − OpEx | −$251.7k | −$8.84 |
| NOI | $755.1k | $26.51 |
28,490 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$10.79M
$9.44M – $12.59M
NOI $755,127 @ 7.0% cap · market cap 5.07%
Second Best
Specialty Retail
$7.84M
$6.86M – $9.14M
NOI $548,461 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$14.45M
$12.65M – $16.86M
NOI $1,011,792 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Two-story commercial building with first-floor restaurant use and second-floor small offices, recently with a replaced roof.
Where is this retail space located?
The property is located at 1200 Washington Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $14,900,000.
What are key features of this property?
This property features: Approximately 30,000 SF two‑story commercial building with historically strong occupancy; First‑floor includes restaurant use; Second‑floor features small offices favored by local businesses
