Fully Renovated Retail/Showroom
531 Michigan Ave Miami Beach, FL 33139
New
531 Michigan Ave, Miami Beach, FL, 33139
$4,800,000
For Sale
$4,800,000
Fully renovated shell at 531 Michigan Ave offers upgraded infrastructure and flexible interior build-out options.
Property Size7,889 SF
Price / SF$608.44
Days on Market2
Property Features for 531 Michigan Ave
General Information
- Standard status
- Active
- Size
- 7,889 SF
Building Details
- Year Built
- 1940
Listing agency
Cromwell & Forbes Inc
(305) 905-1305
Listed by
Laurent Benzaquen · License #3149154
Source
Mymiahomes
Added: Jul 20 Updated: Jul 21 at 7:49AM Checked: Jul 21 at 7:49AM
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 Cromwell & Forbes Inc
Investment Insights
Based on property information with market context.
This fully renovated commercial property at 531 Michigan Ave is delivered as a clean, upgraded shell, designed to accommodate a range of interior layouts and custom build-outs. The renovations include updated infrastructure, providing a foundation for tailoring the space to a tenant or owner’s specific business needs.
The property is described as being positioned in a high-traffic area of Miami Beach with convenient access and proximity to major attractions, dining, retail, and residential developments. The listing notes steady foot traffic and strong overall accessibility.
The space is presented as adaptable for uses such as retail, office, showroom, gallery, or specialty concepts, with flexibility to design and configure the interior to fit the intended operation.
The property is described as being positioned in a high-traffic area of Miami Beach with convenient access and proximity to major attractions, dining, retail, and residential developments. The listing notes steady foot traffic and strong overall accessibility.
The space is presented as adaptable for uses such as retail, office, showroom, gallery, or specialty concepts, with flexibility to design and configure the interior to fit the intended operation.
Key Highlights
- Fully renovated shell at 531 Michigan Ave in Miami Beach
- Delivered as a clean, upgraded shell with updated infrastructure
- Flexible interior build‑out options for customized commercial layouts
Local 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 | $359.7k | $45.60 |
| − Vacancy | −$80.9k | −$10.26 |
| EGI | $278.8k | $35.34 |
| − OpEx | −$69.7k | −$8.84 |
| NOI | $209.1k | $26.51 |
7,889 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.99M
$2.61M – $3.48M
NOI $209,098 @ 7.0% cap · market cap 4.36%
Second Best
Retail
$1.91M
$1.67M – $2.22M
NOI $133,397 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $280,170 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Fully renovated shell at 531 Michigan Ave offers upgraded infrastructure and flexible interior build-out options.
Where is this retail space located?
The property is located at 531 Michigan Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: Fully renovated shell at 531 Michigan Ave in Miami Beach; Delivered as a clean, upgraded shell with updated infrastructure; Flexible interior build‑out options for customized commercial layouts
