Corner Retail
For Sale
Contact for pricing
1407 Washington Ave # 1401, Miami Beach, FL 33139
An open-plan shell provides flexibility to build out the interior or retain its open layout.
Property Size2,000 SF
Price / SF$7.08
Days on Market188
Property Features for 1407 Washington Ave # 1401
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Retail
Site & Location
Neighborhood
Art Deco Historic District
Corner Location
Yes
Building Details
Building Size
2,000 SF
Year Built
1935
Listing Agency:
Emporio Real Estate
Listed By:
Ari Banegas · License #3242158
(305) 989-9794
Source:
Emporiore
Added: Apr 24
Changed: Oct 27
Last Checked: Oct 27 at 3:31AM
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 Emporio Real Estate
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Investment Insights
Based on property information with market context.
This 2,000-square-foot retail space occupies a corner position on Washington Avenue in Miami Beach. Its open-plan interior is delivered in shell condition, allowing the next occupant to build out the space or keep the layout open. The building dates to 1935.
The property is at 1407 Washington Ave #1401, along the Washington Avenue commercial corridor. South Beach is identified as nearby, and national and local anchor tenants are present in the surrounding area. The space is available for occupancy now.
The property is at 1407 Washington Ave #1401, along the Washington Avenue commercial corridor. South Beach is identified as nearby, and national and local anchor tenants are present in the surrounding area. The space is available for occupancy now.
Key Highlights
- 2,000 SF of retail space
- Corner position on Washington Avenue in Miami Beach
- Delivered in shell condition with an open floor plan
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.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,301
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - An open-plan shell provides flexibility to build out the interior or retain its open layout.
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: 2,000 SF of retail space; Corner position on Washington Avenue in Miami Beach; Delivered in shell condition with an open floor plan
