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    298 Lincoln Rd Miami Beach, FL 33139-3117

    • Retail residential properties
    • 8,533 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Apr 15, 2022
    $3,798,200
    Value Estimations
    $3,485,000
    Show details
    Cap Rate Potential
    4.2%
    Retail residential properties
    Location Intelligence
    Property ID
    US18-4357811
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail residential properties

    Property Details for 298 Lincoln Rd

    Year built
    1947
    Construction
    CONCRETE
    Lot size
    0.09 lot acres
    Property size
    8,533 SF
    Zone code
    6600:COMMERCIAL,LIBERAL
    Property type
    Retail residential properties
    APN
    02-3234-019-0870
    APU
    232340190870

    Description

    This ±8,602 square foot mixed-use retail/office building presents an exceptional redevelopment opportunity on Miami Beach's prestigious Lincoln Road. Boasting 40 feet of frontage on this world-class retail corridor, the property sits on approximately 0.10 acres and benefits from favorable CD-3 zoning with a 2.75 Floor Area Ratio (FAR), allowing for significant expansion and repositioning. Its prime South Beach location, just one block from the beach, places it amidst a vibrant mix of hotels, retail establishments, and entertainment venues, ensuring high foot traffic and strong demand. The surrounding area demonstrates robust demographics, with a 5-mile radius encompassing a median home value of $455,000, an average household income of $95,718, and approximately 236,878 residents. This presents investors with an unparalleled chance to capitalize on immediate value-add potential through repositioning and long-term lease-up at market rates. The property's location between Collins and Washington Avenues guarantees irreplaceable Lincoln Road frontage, making it a truly trophy asset in a dynamic and high-demand market. This is a rare chance to acquire a landmark property in one of the most sought-after locations in the country.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,530,000
      ML approach
      $3,535,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,455,000
      6.5%
      $2,265,000
      7%
      $2,105,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1308
    Latitude
    25.7904
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $30,309
    $1,600,000
    $3,554,200
    $5,154,200
    -
    $1,600,000
    $3,554,200
    $5,154,200

    Comparable in this City

    • Value Estimation
      $320,000
      1,620 SF

      628 6th St

      STORES & APARTMENTS • 1,620 SF
      628 6th St, Miami Beach, FL 33139-8602
      View Details
    • Value Estimation
      $355,000
      1,182 SF

      815 4th St

      STORES & APARTMENTS • 1,182 SF
      815 4th St, Miami Beach, FL 33139-6823
      View Details
    • Value Estimation
      $440,000
      6,637 SF

      1051 Washington Ave

      STORES & APARTMENTS • 6,637 SF
      1051 Washington Ave, Miami Beach, FL 33139-5017
      View Details
    • Value Estimation
      $470,000
      17,143 SF

      437 Washington Ave

      STORES & APARTMENTS • 17,143 SF
      437 Washington Ave, Miami Beach, FL 33139-6617
      View Details
    • Value Estimation by Request
      8,527 SF

      607 Lincoln Rd

      STORES & APARTMENTS • 8,527 SF
      607 Lincoln Rd, Miami Beach, FL 33139-2915
      View Details
    • Value Estimation
      $510,000
      26,891 SF

      2216 Collins Ave

      STORES & APARTMENTS • 26,891 SF
      2216 Collins Ave, Miami Beach, FL 33139-1718
      View Details

    Similar Nearby for Sale

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      Lincoln Road Retail Condo Investment

      Prime South Beach Retail Space - Vacant
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    Similar Nearby for Lease

    • Contact for pricing
      21,208 SF

      South Beach Mixed-Use Building

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    • $60 SF/Yr
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      South Beach Office Space for Lease

      Prime South Beach location, multiple suites available
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    • $792 /Mo
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      Jefferson Ave Commercial Space

      Prime Restaurant/Retail/Office Space
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      South Beach Office Space for Lease

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    • Contact for pricing
      14,312 SF

      Prime Miami Beach Retail Space

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    • $60 SF/Yr
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      Jefferson Ave Office Suites

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      View Details
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    298 Lincoln Rd
    Miami Beach, FL 33139-3117
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    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
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