New search
Property profile & analytics
FOR LEASE
Retail residential properties
1601 Drexel Ave, Miami Beach, FL 33139
Entity Owned
10-yr Hold
Free & Clear
Property ID
US18-5327880
For Lease
1 / 3
$28,365,000
1601 Drexel Ave, Miami Beach, FL 33139
View Listing →
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
2012
Construction
CONCRETE
Total area
163,836 SF
Lot
1.19 ac (51,971 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
02-3234-006-0040
UPID
US18-5327880
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$28.37M
Owner & transaction history
420 Lincoln Road Dev LLC · 10 yrs held
420 Lincoln Road Dev LLC
since 2016
2 recorded transactions
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Miami Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miami Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$173 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$370,170
Tax year 2023
Assessed value
$20,888,400
Assessed 2023
Previous assessed
$20,888,400
+0.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$20,788,400
Assessed improvement
$100,000
Land market value
$20,788,400
Improvement market value
$100,000
Total market value
$20,888,400
Applied tax rate
200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Status
For Lease
Year built
2012
Construction
CONCRETE
Heating
NONE
Cooling
CENTRAL
Stories
5
Total area
163,836 SF
Lot
1.19 ac (51,971 SF)
Zoning code
6600:COMMERCIAL,LIBERAL
APN
02-3234-006-0040
UPID
US18-5327880
Jurisdiction
DADE
Metro division
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISION
Zoning & alternative use
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Zoning 6600:COMMERCIAL,LIBERAL · permitted uses
6600:COMMERCIAL,LIBERAL · Miami Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miami Beach. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2012
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
5
Lot
1.19 ac
Current owner
From public records · entity-resolved
420 Lincoln Road Dev LLC
Entity
Free & Clear · 10 yrs held
Mailing address
420 LINCOLN RD STE #330, MIAMI BEACH, FL 33139-3034
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2016
—
420 Lincoln Road Dev LLC
City Of Miami Beach
Quit Claim Deed
related
—
Feb 21, 2008
—
420 Lincoln Road Dev LLC
420 Lincoln Road Assocs Ltd
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
