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    Miami Beach Commercial Space Title is generated by Realmo AI

    924 71st Street, Miami Beach, FL 33141

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    For Lease
    $8,250/Mo $57 SF/Yr (calc)

    COMMERCIAL - Miami Beach, FL

    Property size:
    1,730 SF
    Lot size:
    0.07 Acres
    Added:
    Mar 15, 2026
    Days on Market:
    76
    Last Refresh:
    May 29 at 6:06 pm

    Property Features for 924 71st Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    6400
    Parking
    1
    Security features
    Security Lighting
    Standard status
    Active
    APN
    0232100130490
    Size
    1,730 SF
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    OCEAN SIDE SEC ISLE OF NORMANDY PB 25-60 LOT 4 BLK 5 LOT SIZE 25.000 X 124 OR 11121-684 0681 1
    Tax Annual Amount
    8000

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1939
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Concrete
    Roof type
    Concrete

    We can help!

    Listing Contact
    Aziz A Charania

    Listing agent Aziz A Charania License #3132256

    Listing office LoKation 1500 E Atlantic Blvd. The K. Co. Building, Pompano Beach, FL

    Listing date Mar 15, 2026

    MLS# B26002435

    Copyright © 2026 BeachesMLS. 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 Miami Beach location with high visibility and strong foot traffic.
    • Versatile layout suitable for various businesses (restaurant, retail, salon, etc.).
    • Excellent exposure and potential to create a destination spot.
    • Rare opportunity in a high‑demand commercial corridor.
    • Concrete construction and flooring.
    • Central heating and electric cooling.

    Overview

    This commercial space is located in a high-visibility area of Miami Beach with strong foot traffic and easy access. The versatile 1730-square-foot layout is suitable for a variety of businesses, including a restaurant, cafe, lounge, cigar lounge, salon, spa, dance studio, tattoo studio, or boutique retail. The property is located in a vibrant, high-demand area and offers excellent exposure and the potential to create a destination spot. This is a rare opportunity in one of Miami Beach's hottest commercial corridors. The lot size is 0.07 acres. The property's zoning is 6400.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

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

    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
    -80.128462
    Latitude
    25.855179

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    FAQs

    What type of property is this?
    Retail space - Prime commercial space in high-demand Miami Beach location.
    Where is this retail space located?
    The property is located at 924 71st Street Miami Beach, FL.
    What is the lease rate?
    The lease rate is $8,250 /Mo.
    What are key features of this property?
    This property features: Prime Miami Beach location with high visibility and strong foot traffic.; Versatile layout suitable for various businesses (restaurant, retail, salon, etc.).; Excellent exposure and potential to create a destination spot.
    (786) 508-2450
    We can help!
    Listing Contact
    Aziz A Charania
    Real Estate License ID: 3132256
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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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