South Beach Retail Investment
764 Washington Ave #4-Folios Included Miami Beach, FL 33139
764 Washington Ave #4-Folios Included, Miami Beach, FL, 33139
Contact for pricing
For Sale
Contact for pricing
Income-producing retail spaces in the heart of South Beach.
Property Size8,000 SF
Price / SF$493.75
Days on Market61
Property Features for 764 Washington Ave #4-Folios Included
General Information
- Standard status
- Active
- Size
- 8,000 SF
- Property subtype
- Retail, Office, Hospitality
Listing Agency
Best Of Luxury Realty Corp
(305) 406-7165
Listed by
Dennys Gonzalez · License #3210080
Source
Crexi
Added: May 18 Checked: Jul 15 at 4:46 pm
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 Best Of Luxury Realty Corp
Investment Insights
Based on property information with market context.
Four commercial-retail ground-level spaces, identified as CU-1-2-3-4, offer a combined area of over 7,800 square feet. Located in the heart of South Beach's Hotel District, these spaces are currently leased to income-producing retail businesses. The property generates a yearly net income of $216,000. The corner space is occupied by a grocery store, while the other spaces are combined and operated as a restaurant and bar. All tenants are under Triple-Net leases, resulting in minimal costs for the landlord. The tenants are long-term and willing to continue their leases at this location. Situated on a highly visible corner lot along Washington Avenue, the property is steps away from Ocean Drive and Lincoln Road. These commercial spaces are located on the ground level of the Royal South Beach Condo-Hotel, which has passed the 40-year recertification. The 50-year recertification Engineering Study has also been completed.
Key Highlights
- Prime South Beach location in the Hotel District, steps from Ocean Drive and Lincoln Road
- Income‑producing property with a yearly NET income of $216,000
- Four ground‑level commercial‑retail spaces totaling over 7,800 sq. ft.
Local Financial Insights For Specialty Retail
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 | $220.8k | $27.60 |
| − Vacancy | −$15.5k | −$1.93 |
| EGI | $205.3k | $25.67 |
| − OpEx | −$51.3k | −$6.42 |
| NOI | $154.0k | $19.25 |
8,000 SF · lease $27.60/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.20M
$1.93M – $2.57M
NOI $154,008 @ 7.0% cap · market cap 3.90%
Second Best
Retail
$1.93M
$1.69M – $2.25M
NOI $135,274 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$4.06M
$3.55M – $4.74M
NOI $284,112 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Similar For Sale Nearby
Similar Off Market Nearby
- Underground Donut Tour - Miami — 729 5th St, Miami Beach, FL 33139
- Calle 6 Food Market — 630 6th St, Miami Beach, FL 33139
- Target Grocery — 1045 5th St Unit 201, Miami Beach, FL 33139
- Mr. Grocery — 910 West Ave #432, Miami Beach, FL 33139
- Meridian Market and Cafe — 812 6th St, Miami Beach, FL 33139
FAQs
What type of property is this?
Grocery and convenience store - Income-producing retail spaces in the heart of South Beach.
Where is this grocery and convenience store located?
The property is located at 764 Washington Ave #4-Folios Included Miami Beach, FL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Prime South Beach location in the Hotel District, steps from Ocean Drive and Lincoln Road; Income‑producing property with a yearly NET income of $216,000; Four ground‑level commercial‑retail spaces totaling over 7,800 sq. ft.
