For Sale
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1407 Washington Ave 1401, Miami Beach, FL 33139
Retail space
Property Size2,000 SF
Price / SF$7.08
Days on Market173
Property Features for 1407 Washington Ave 1401
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial
Building Details
Building Size
2,000 SF
Year Built
1935
Listed By:
Mary Roman
(954) 228-0768
Source:
Elliman
Added: Apr 27
Changed: Oct 10
Last Checked: Oct 14 at 11:43PM
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 Mary Roman
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Investment Insights
Based on property information with market context.
Key Highlights
- Prime 2,000 SF corner retail space on Washington Ave near South Beach.
- High visibility location with strong foot traffic and excellent street exposure.
- Surrounded by established national and local anchor tenants.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,818
Suggested Prices Based on Cap Rates
Cap Rate 5%
$676,360
$676.4K
Cap Rate 7%
$483,114
$483.1K
Cap Rate 9%
$375,756
$375.8K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$52.8K $26.40/SF
− Vacancy
−$4.5K −$2.24/SF
EGI
$48.3K $24.16/SF
− OpEx
−$14.5K −$7.25/SF
NOI
$33.8K $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%
$676,360
Cap Rate 7%
$483,114
Cap Rate 9%
$375,756
Alternative Uses
Best Use
Retail
$483.1K
$422.7K – $563.6K
NOI $33,818 @ 7.0% cap · market cap 238.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$887.9K – $1.18M
NOI $71,028 @ 7.0% cap · market cap 501.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
8,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
Where is this retail space located?
The property is located at 1407 Washington Ave 1401 Miami Beach, FL.
What are key features of this property?
This property features: Prime 2,000 SF corner retail space on Washington Ave near South Beach.; High visibility location with strong foot traffic and excellent street exposure.; Surrounded by established national and local anchor tenants.
