Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1220 Ocean Dr Miami Beach, FL 33139-4610
    Back to Search
    Property profile & analytics

    1220 Ocean Dr, Miami Beach, FL 33139-4610

    View on Map
    • Hotels
    • 57,762 SF
    • 0.30 lot acres
    Off-Market
    Property ID
    US18-6064150
    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
    $2,960,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

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

    Property Details for 1220 Ocean Dr

    Year built
    1936
    Construction
    CONCRETE
    Lot size
    0.30 lot acres
    Zone code
    6501:COMMERCIAL
    Property type
    Hotels
    APN
    02-3234-008-0410
    APU
    232340080410

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 7, 2017 $908,000 Cg Tides LLC Radford Trust Warranty Deed —
    Nov 17, 2016 $510,200 Cg Tides LLC Gv Investments Management LLC Warranty Deed —
    Nov 1, 2016 $549,700 Cg Tides LLC Russell,joel F Warranty Deed —
    Oct 17, 2016 $549,700 Cg Tides LLC Gould,james III Warranty Deed —
    Aug 18, 2016 $1,100,000 Cg Tides LLC Kib 1 LLC Warranty Deed —
    Nov 17, 2004 $26,500,000 Tides Hotel Property LLC Avalon Tides Spe LLC Trustees Deed · related $25.1M · Aurinko LLC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1304
    Latitude
    25.7831
    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
    $148,797
    $7,800,000
    $74,257
    $7,874,257
    -
    $7,800,000
    $74,257
    $7,874,257

    Comparable in this City

    • Value Estimation
      $3,925,000
      71,896 SF

      1756 Collins Ave

      HOTEL
      1756 Collins Ave, Miami Beach, FL 33139-2007
      View Details
    • Value Estimation by Request
      433,336 SF

      2377 Collins Ave

      HOTEL/MOTEL
      2377 Collins Ave, Miami Beach, FL 33139-1609
      View Details
    • Value Estimation
      $11,880,000
      646,600 SF

      1601 Collins Ave

      HOTEL
      1601 Collins Ave, Miami Beach, FL 33139-3112
      View Details
    • Value Estimation
      $3,260,000
      61,589 SF

      1741 Collins Ave

      HOTEL
      1741 Collins Ave, Miami Beach, FL 33139-2006
      View Details
    • Value Estimation
      $4,375,000
      77,109 SF

      1701 Collins Ave

      HOTEL
      1701 Collins Ave, Miami Beach, FL 33139-2006
      View Details
    • Value Estimation
      $730,000
      9,776 SF

      321 Collins Ave

      HOTEL
      321 Collins Ave, Miami Beach, FL 33139-6902
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Miami Beach Mixed-Use Property

      Renovated mixed-use property in Miami Beach with hotel and restaurants.
      533 Lincoln Rd, Miami, FL 33139
      View Details
    • Contact for pricing

      Condo-Hotel Units with Beach Access

      33 Condo-Hotel units with no rental restrictions, near beach.
      763 E Pennsylvania Ave, Miami Beach, FL 33139
      View Details
    • $16,900,000
      0.15 Acres

      Miami Beach Hotel Investment Opportunity

      Renovated 25-suite hotel with full kitchens in prime location.
      205 Collins Ave, Miami Beach, FL 33139
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Miami Beach Office Condo Lease

      South Beach Office, Two Parking Spaces
      1680 Michigan Ave, Miami Beach, FL 33139
      View Details
    • $62 SF/Yr
      554 SF

      South Beach Office Space for Lease

      Prime Miami Beach Office, 554 sq ft
      1680 Michigan Ave, Miami Beach, FL 33139
      View Details
    • Contact for pricing

      Alton Road Office/Retail Space

      Rental space with frontage on Alton Rd in South Beach.
      1235 Alton Rd, Miami Beach, FL 33139
      View Details
    • Contact for pricing

      Retail Space on Alton Road

      Retail space for lease with high visibility and foot traffic.
      1440 Alton Rd, Miami Beach, FL 33139
      View Details
    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.
    1220 Ocean Dr
    Miami Beach, FL 33139-4610
    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
    1220 Ocean Dr, 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!