Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Location Retail Asset Title is generated by Realmo AI

    1600 Lenox Ave., Miami Beach, FL 33139

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Premier location retail asset with flexible use options.

    Type:Retail
    Property size:
    6,790 SF
    Price / SF:
    $1,767/SF
    Added:
    Aug 8, 2024
    Days on Market:
    669
    Last Refresh:
    May 12 at 9:46 pm

    Property Features for 1600 Lenox Ave.

    General Information

    Standard status
    Active
    Size
    6,790 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Lyle Chariff

    Listing agent Lyle Chariff License #FL BK598708

    Listing office Chariff Realty Group Inc

    Listing date Aug 8, 2024

    Source Crexi

    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 Chariff Realty Group Inc

    HighLights

    • Premier location on 16th Street between Lincoln Rd & Alton Rd.
    • Anchored by established businesses: Yardbird, SuViche & Abbey Brewing Co.
    • Rare trophy asset with flexible use options.
    • Surrounded by top national and local retailers.
    • Minutes from Miami, Wynwood, and the Design District.
    • Exceptional opportunity for owner‑user or new development.

    Overview

    Located on 16th Street between Lincoln Road and Alton Road, this property is anchored by Yardbird, SuViche, and Abbey Brewing Co. The property is surrounded by national and local retailers. This asset offers flexible use options, including extending leases, owner-user opportunities, or new development. Situated at 1600 Lenox Ave in Miami Beach, the property is home to SuViche, Abbey Brewing Co., and Yardbird Southern Table and Bar. It is located between Lincoln Road and Alton Road, offering accessibility and exposure. The property is also located minutes from Miami, Wynwood, and the Design District.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Center 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
    -80.140275
    Latitude
    25.789457

    Nearby Similar for Sale

    • $2,800,000
      7,800 SF

      South Beach Retail Investment Opportunity

      Income-producing retail spaces in the heart of South Beach.
      764 Washington Ave, Miami Beach, FL 33139
      View Details
    • $16,999,000
      8,000 SF

      Faena District Hospitality Asset

      Partially completed mixed-use hospitality asset in Miami Beach's Faena District.
      2814 Collins Ave, Miami Beach, FL 33140
      View Details
    • $795,000
      860 SF

      Lincoln Road Retail Opportunity

      Prime retail space on iconic Lincoln Road in Miami Beach.
      1300 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • $5,000,000
      7,762 SF

      Alton Road Retail Opportunity

      Four-unit building on a high-traffic corridor with redevelopment potential.
      1558 Alton Rd, Miami Beach, FL 33139
      View Details
    • $11,000,000
      8,006 SF

      Miami Beach Retail Redevelopment Opportunity

      Prime commercial property with redevelopment potential in Miami Beach.
      1441 Alton Rd, Miami Beach, FL 33139
      View Details
    • $9,000,000
      600 SF

      Iconic South Beach Property

      Rare opportunity to own a landmark nightlife property.
      1527 Washington Ave, Miami Beach, FL 33139
      View Details
    • $3,850,000
      6,960 SF

      Multifamily Investment in Miami Beach

      Multifamily property on oversized lot with renovation potential in Miami Beach.
      800 85th St, Miami Beach, FL 33141
      View Details
    • $16,000,000
      22,750 SF

      Miami Beach Development Opportunity

      Rare South of Fifth development opportunity with income and upside.
      249 Collins Ave, Miami Beach, FL 33139
      View Details
    • $2,850,000
      2,558 SF

      Turnkey 8-Room Bed & Breakfast

      Fully-licensed turnkey boutique bed and breakfast offering eight guest rooms in a historic Miami Beach setting.
      711 Lenox Ave, Miami Beach, FL 33139
      View Details
    • $2,499,900

      Historic Miami Beach Mixed-Use Property

      Restore a historic Miami Beach property near the ocean.
      927 4th St, Miami Beach, FL 33139
      View Details
    • $7,130,000
      6,705 SF

      Miami Beach Multifamily Investment Opportunity

      Upgraded multifamily property near North Beach, Miami Beach.
      8035 ABBOTT AV, Miami Beach, FL 33141
      View Details
    • $2,800,000
      11,880 SF

      Miami Beach Multifamily Investment

      Well-maintained 9-unit building in Miami Beach's Biscayne Beach area.
      709 83rd St, Miami Beach, FL 33141
      View Details

    FAQs

    What type of property is this?
    Retail space - Premier location retail asset with flexible use options.
    Where is this retail space located?
    The property is located at 1600 Lenox Ave. Miami Beach, FL.
    What is the asking price?
    The asking price for this property is $12,000,000.
    What are key features of this property?
    This property features: Premier location on 16th Street between Lincoln Rd & Alton Rd.; Anchored by established businesses: Yardbird, SuViche & Abbey Brewing Co.; Rare trophy asset with flexible use options.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Lyle Chariff
    Real Estate License ID: FL BK598708
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1600 Lenox Ave., Miami Beach, FL 33139
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!