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    119 Washington Ave Miami Beach, FL 33139
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    119 Washington Ave Miami Beach, FL 33139

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    • Office buildings
    • 89,916 SF
    • 0.45 lot acres
    For Lease
    View Listing →
    Class A Mixed-Use Building For Lease
    Contact for pricing
    90,000 SF

    Class A Mixed-Use Building

    Premier office and retail spaces in South of Fifth area.

    119 Washington Ave, Miami Beach, FL 33139
    View Listing
    Property ID
    US18-1850974
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 119 Washington Ave

    Year built
    2002
    Construction
    CONCRETE
    Lot size
    0.45 lot acres
    Property size
    89,916 SF
    Zone code
    6502:COMMERCIAL
    Property type
    Office buildings
    APN
    02-4203-003-1200
    APU
    242030031200

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $45,855,000
      6.5%
      $42,330,000
      7%
      $39,305,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $65,006,000
      Market price range: $15.3M - $217M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1347
    Latitude
    25.7705
    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
    $445,965
    $9,750,000
    $25,150,000
    $34,900,000
    -
    $9,750,000
    $25,150,000
    $34,900,000

    Comparable in this City

    • Value Estimation
      $1,705,000
      724 SF

      1680 Michigan Ave Ste 700c

      OFFICE BUILDING (MULTI-STORY) • 724 SF
      1680 Michigan Ave Ste 700c, Miami Beach, FL 33139-2538
      View Details
    • Value Estimation
      $1,030,000
      438 SF

      1680 Michigan Ave Ste 730a

      OFFICE BUILDING (MULTI-STORY) • 438 SF
      1680 Michigan Ave Ste 730a, Miami Beach, FL 33139-2551
      View Details
    • Value Estimation
      $1,215,000
      517 SF

      1680 Michigan Ave Ste 730c

      OFFICE BUILDING (MULTI-STORY) • 517 SF
      1680 Michigan Ave Ste 730c, Miami Beach, FL 33139-2551
      View Details
    • Value Estimation
      $1,465,000
      1,095 SF

      605 Lincoln Rd, Unit 710

      OFFICE BUILDING (MULTI-STORY) • 1,095 SF
      605 Lincoln Rd, Miami Beach, FL 33139-2900
      View Details
    • Value Estimation
      $2,805,000
      2,099 SF

      605 Lincoln Rd, Unit 720

      OFFICE BUILDING (MULTI-STORY) • 2,099 SF
      605 Lincoln Rd, Miami Beach, FL 33139-2900
      View Details
    • Value Estimation
      $960,000
      407 SF

      1680 Michigan Ave Ste 800l

      OFFICE BUILDING (MULTI-STORY) • 407 SF
      1680 Michigan Ave Ste 800l, Miami Beach, FL 33139-2538
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      138,092 SF

      South Beach Mixed-Use Building

      Luxury mixed-use building in Miami's historic South Beach district.
      1601 Washington Ave, Miami, FL 33139
      View Details
    • $5,850,000
      6,894 SF

      Iconic South Beach Office Building

      Two-story, 6,800+ SF office building in prime South Beach location.
      530 11Th St, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      7,762 SF

      South Beach Commercial Redevelopment Opportunity

      Four-unit building on Alton Road with redevelopment potential.
      1558 Alton Rd, Miami Beach, FL 33139
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Landmark South Beach Location

      Prime location near MacArthur Causeway, Ocean Drive, restaurants, and boutiques.
      555 Washington Ave, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      2,390 SF

      Miami Beach Office Space

      Class A office building near Lincoln Road with ocean views.
      1688 Meridian Ave, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      120,000 SF

      Miami Beach Office Space Available

      120,000 square foot office building in Miami Beach.
      401 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      1,605 SF

      South Beach Class A Office

      Premier office building in the heart of South Beach.
      555 Washington Ave, Miami Beach, FL 33139
      View Details
    • $37,500
      5,000 SF

      South Beach Office/Retail Building

      23,000 SF building in thriving South Beach district.
      420-426 Jefferson Ave, Miami Beach, FL 33139
      View Details
    • $1,900 /Mo

      Modernized Office Near Lincoln Road

      Shared office memberships in a Class A building near amenities.
      1355 Alton Rd, Miami Beach, FL 33139
      View Details
    View Listing
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    119 Washington Ave
    Miami Beach, FL 33139
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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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