Ground-Floor Mixed-Use
1217 71st St, Miami Beach, FL 33141
For Sale
Contact for pricing
An open interior combines vaulted ceilings, polished concrete flooring, a full bathroom and a rear patio.
Property Size1,600 SF
Price / SF$3.44
Days on Market83
Property Features for 1217 71st St
General Information
Standard status
Size
Property subtype
Additional Details
Floor
Building Details
Building Size
Year Built
Listing Agency:
Power Source Real Estate, Inc.
Listed By:
Giancarlo Jimeno · License #0695460
(786) 488-6006
Source:
Emporiore
Added: Aug 19
Changed: Nov 7
Last Checked: Nov 8 at 2:06PM
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 Power Source Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 1,600 SF ground-floor commercial space at 1217 71st St in Miami Beach was built in 1950. Its open layout has vaulted ceilings, white-painted walls, polished concrete floors, a spacious bathroom and a rear patio. A grease trap and exhaust system remain from an earlier restaurant use. The space was formerly used as an art gallery, and the listed possible uses include retail, showroom, gallery, studio and office, as well as food-related concepts subject to applicable approvals.
The property sits on 71st Street among restaurants, shops and neighborhood businesses. The source identifies access to Surfside, Mid-Beach, Bal Harbour and the 79th Street Causeway.
The property sits on 71st Street among restaurants, shops and neighborhood businesses. The source identifies access to Surfside, Mid-Beach, Bal Harbour and the 79th Street Causeway.
Key Highlights
- 1,600 SF of ground‑floor commercial space
- Vaulted ceilings and polished concrete floors
- Rear patio and spacious bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,055
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,100
$541.1K
Cap Rate 7%
$386,500
$386.5K
Cap Rate 9%
$300,611
$300.6K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$42.2K $26.40/SF
− Vacancy
−$3.6K −$2.24/SF
EGI
$38.6K $24.16/SF
− OpEx
−$11.6K −$7.25/SF
NOI
$27.1K $16.91/SF
Area
Miami-Dade County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,100
Cap Rate 7%
$386,500
Cap Rate 9%
$300,611
Alternative Uses
Best Use
Mixed Use
$394.3K
$345.0K – $460.0K
NOI $27,600 @ 7.0% cap · market cap 501.82%
Second Best
Retail
$386.5K
$338.2K – $450.9K
NOI $27,055 @ 7.0% cap · market cap 491.91%
Theoretical Best
Office A
$811.7K
$710.3K – $947.0K
NOI $56,822 @ 7.0% cap · market cap 1,033.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,084
Businesses Nearby
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Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Miami-Dade County, FL
Properties on Market for Mixed-use properties in Miami-Dade County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - An open interior combines vaulted ceilings, polished concrete flooring, a full bathroom and a rear patio.
Where is this mixed-use property located?
The property is located at 1217 71st St Miami Beach, FL.
What are key features of this property?
This property features: 1,600 SF of ground‑floor commercial space; Vaulted ceilings and polished concrete floors; Rear patio and spacious bathroom
