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    South Beach Retail/Office Space Title is generated by Realmo AI

    901 Pennsylvania Ave, Miami Beach, FL 33139

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    For Lease
    $45 SF/Yr $3,750/Mo (calc)

    Retail - Miami Beach, FL

    Type:Retail
    Property size:
    1,000 SF
    Lot size:
    0.17 Acres
    Added:
    May 29, 2026
    Days on Market:
    1
    Last Refresh:
    May 29 at 7:06 pm

    Property Features for 901 Pennsylvania Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Zoning
    4800
    Standard status
    Active
    APN
    02-42-03-009-0220
    Size
    1,000 SF
    Lot size
    0.17 Acres

    Building Details

    Year built
    1948
    Architectural style
    Other

    We can help!

    Listing Contact
    Joseph Biscaha

    Listing agent Joseph Biscaha License #3443018

    Listing office Compass Florida, LLC 1212 Lincoln Rd, Miami, FL

    Listing date May 29, 2026

    MLS# A12026140 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime South Beach location at Pennsylvania Ave & 9th Street with high visibility from Washington Ave.
    • Turnkey, move‑in ready 1000 sqft commercial unit suitable for office or retail.
    • High foot traffic area with two entry points.
    • Window signage opportunity and great visibility from Washington & Pennsylvania Ave.
    • Located in a building connected to a city parking lot.
    • Zoned RO, ideal for a variety of office/retail uses (check City of Miami Beach for specific business allowance).

    Overview

    This 1,000 square foot commercial unit is located on the ground floor of a two-story building in South Beach, at the intersection of Pennsylvania Avenue and 9th Street, offering visibility from Washington Avenue. The building consists of 10 units, with 6 residential apartments on the upper level and 4 commercial units. The property is connected to a city parking lot facing Washington Avenue. Previously used as a bicycle/scooter shop, the unit is currently built out for office or boutique retail use and is move-in ready. It features two entry points, window signage opportunities, and high foot traffic. The property is zoned RO and is situated on a lot of approximately 0.1722 acres. The location is ideal for a variety of office and retail uses. The base rent is $3,563 ($45/sf), with an additional $1,625 for NNN expenses, resulting in a total cost of $5,188 plus sales tax (subject to change based on NNN schedule). Interested parties should check with the City of Miami Beach for specific business allowances.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Real Estate Agency Nail Salon Food Market Daycare Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.133678
    Latitude
    25.780478

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    FAQs

    What type of property is this?
    Retail space - Turnkey retail or office space in high-traffic South Beach.
    Where is this retail space located?
    The property is located at 901 Pennsylvania Ave Miami Beach, FL.
    What is the lease rate?
    The lease rate is $45 SF/Yr.
    What are key features of this property?
    This property features: Prime South Beach location at Pennsylvania Ave & 9th Street with high visibility from Washington Ave.; Turnkey, move‑in ready 1000 sqft commercial unit suitable for office or retail.; High foot traffic area with two entry points.
    (786) 881-9894
    We can help!
    Listing Contact
    Joseph Biscaha
    Real Estate License ID: 3443018
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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.

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