Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Class A Mixed-Use Building Title is generated by Realmo AI

    119 Washington Ave, Miami Beach, FL 33139

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Premier office and retail spaces in South of Fifth area.

    Type:Commercial
    Property size:
    90,000 SF
    Added:
    Jun 6, 2023
    Days on Market:
    1096
    Last Refresh:
    Apr 5 at 11:36 pm

    Property Features for 119 Washington Ave

    General Information

    Standard status
    Active
    Size
    90,000 SF
    Property subtype
    Commercial

    We can help!

    Listing Contact
    Cyril Bijaoui
    Cyril Bijaoui

    Listing agent Cyril Bijaoui License #BK3325796

    Listing office Miami Beach

    Listing date Jun 6, 2023

    Source Corcoran

    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 Miami Beach

    HighLights

    • Class A mixed‑use office building in the desirable South of Fifth area.
    • Designed by world‑renowned architecture firm Arquitectonica.
    • Features over 20,000 square feet of outdoor terraces.
    • Approximately 90,000 square feet of office/retail/on‑site parking space.
    • Walking distance to top Miami restaurants, including Joe's Stone Crabs and Carbone.
    • Modern design with natural light and views of the surrounding area and Atlantic Ocean.

    Overview

    UNO South Pointe is a Class A mixed-use building located in the South of Fifth area. Designed by Arquitectonica, the building features modern designs and natural light. It offers approximately 90,000 square feet of office, retail, and on-site parking space, along with over 20,000 square feet of outdoor terraces. The building provides a variety of working space solutions and two premium retail locations on Washington Avenue. It is located within walking distance of restaurants such as Joe's Stone Crabs, Estiatorio Milos, Carbone, Call Me Gaby, Stubborn Seed, and Gordon Ramsay’s Lucky Cat. The building offers views of the surrounding areas and the Atlantic Ocean.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

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

    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
    -80.134692
    Latitude
    25.770455

    Nearby Similar for Lease

    • $45 SF/Yr
      700 SF

      South Beach Corner Retail/Office

      Turnkey 700 SF commercial unit in high-traffic South Beach.
      901 Pennsylvania Ave, Miami Beach, FL 33139
      View Details
    • $45 SF/Yr
      1,000 SF

      South Beach Retail/Office Space

      Turnkey retail or office space in high-traffic South Beach.
      901 Pennsylvania Ave, Miami Beach, FL 33139
      View Details
    • $1,500/Mo
      906 SF

      Miami Beach Shared Office Space

      Shared office space in oceanfront condo, ideal for medical use.
      2555 Collins Ave, Miami Beach, FL 33140
      View Details
    • $37 SF/Yr
      800 SF

      Renovated Retail/Office Suite in Miami Beach

      Rare, renovated 800 SF retail/office suite in iconic building.
      1197 71 St, Miami Beach, FL 33141
      View Details
    • $50 SF/Yr
      9,480 SF

      Miami Beach Commercial Building Lease

      9,480 SF commercial building for lease in Miami Beach.
      1214 Alton Rd, Miami Beach, FL 33139
      View Details
    • $37,000 SF/Yr
      4,000 SF

      Miami Beach Office with Terrace

      4,000 SF office with 1,000 SF covered terrace.
      6930 Collins Ave, Miami Beach, FL 33141
      View Details
    • $2,859/Mo
      2,655 SF

      Miami Beach Office Space Available

      Office leases available in North Beach, projected for January 2026.
      6936 Collins Ave, Miami Beach, FL 33141
      View Details
    • $8,000/Mo
      2,655 SF

      Miami Beach Office Space Available

      Office leases available in North Beach with flexible configurations.
      6930 Collins Ave, Miami Beach, FL 33141
      View Details
    • $8,250/Mo
      1,730 SF

      Miami Beach Commercial Space

      Prime commercial space in high-demand Miami Beach location.
      924 71st Street, Miami Beach, FL 33141
      View Details
    • $45 SF/Yr
      1,360 SF

      Miami Beach Office Shell Space

      Shell space ready for custom build-out in Miami Beach.
      1000 5th St, Miami Beach, FL 33139
      View Details
    • $50 SF/Yr
      4,148 SF

      Class A Office Suite

      Spacious, efficient office suite in a prime Miami Beach location.
      1000 5th St, Miami Beach, FL 33139
      View Details
    • $65 SF/Yr
      1,466 SF

      Miami Beach Class A Office

      Well-designed office space in a Class A building.
      1000 5th St, Miami Beach, FL 33139
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Premier office and retail spaces in South of Fifth area.
    Where is this mixed-use property located?
    The property is located at 119 Washington Ave Miami Beach, FL.
    What are key features of this property?
    This property features: Class A mixed‑use office building in the desirable South of Fifth area.; Designed by world‑renowned architecture firm Arquitectonica.; Features over 20,000 square feet of outdoor terraces.
    (786) 326-3774
    We can help!
    Listing Contact
    Cyril Bijaoui
    Cyril Bijaoui
    Real Estate License ID: BK3325796
    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

    Thank You for Inquiry
    119 Washington Ave, Miami Beach, FL 33139
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!