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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1665 Washington Ave Miami Beach, FL 33139-3172

    • Office buildings
    • 10,476 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Mar 10, 2022
    $4,500,000
    Value Estimations
    $4,760,000
    Show details
    Cap Rate Potential
    7.1%
    Office buildings
    Location Intelligence
    Property ID
    US18-0177536
    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.

    Current Use by Public Records

    • Office buildings

    Property Details for 1665 Washington Ave

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    0.10 lot acres
    Property size
    10,476 SF
    Zone code
    6600:COMMERCIAL,LIBERAL
    Property type
    Office buildings
    APN
    02-3234-019-0770
    APU
    232340190770

    Description

    This exceptional Class A retail property, located at 1665 Washington Ave in Miami Beach, Florida (33139), offers a unique opportunity for businesses seeking high-visibility space in a vibrant location. The building, known as Metropolitan Miami, boasts a total of 800,000 square feet across six stories and features three total suites. Currently, there is 8,850 square feet of vacant space available for lease, divisible into units as small as 600 square feet, with a maximum contiguous space of 8,250 square feet. This allows for flexibility to accommodate a variety of business needs and sizes. The property's prime location in Miami-Dade County ensures high foot traffic and excellent exposure to a diverse customer base. The building's impressive size and modern design make it an ideal location for businesses seeking a prestigious address in one of Miami Beach's most sought-after areas. This is a multi-tenant building offering a range of options for businesses looking to establish or expand their presence in this dynamic market. Contact us today to learn more about leasing opportunities and explore the potential of this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,185,000
      ML approach
      $3,920,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,935,000
      6.5%
      $4,555,000
      7%
      $4,230,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,891,000
      Market price range: $1.78M - $25.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami Beach
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1315
    Latitude
    25.7913
    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
    $59,997
    $1,800,000
    $1,900,000
    $3,700,000
    -
    $1,800,000
    $1,900,000
    $3,700,000

    Comparable in this City

    • Value Estimation
      $505,000
      1,913 SF

      1321 Alton Rd

      OFFICE BUILDING • 1,913 SF
      1321 Alton Rd, Miami Beach, FL 33139-3811
      View Details
    • Value Estimation
      $570,000
      2,204 SF

      1820 Bay Rd

      OFFICE BUILDING • 2,204 SF
      1820 Bay Rd, Miami Beach, FL 33139-1416
      View Details
    • Value Estimation by Request
      8,738 SF

      401 Lincoln Rd

      OFFICE BUILDING (MULTI-STORY) • 8,738 SF
      401 Lincoln Rd, Miami Beach, FL 33139-3002
      View Details
    • Value Estimation by Request
      1,030 SF

      605 Lincoln Rd, Unit 650

      OFFICE BUILDING (MULTI-STORY) • 1,030 SF
      605 Lincoln Rd, Miami Beach, FL 33139-2900
      View Details
    • Value Estimation by Request
      6,353 SF

      1701 Meridian Ave, Unit 7

      OFFICE BUILDING (MULTI-STORY) • 6,353 SF
      1701 Meridian Ave, Miami Beach, FL 33139-1882
      View Details
    • Value Estimation by Request
      307 SF

      1680 Michigan Ave Ste 730e

      OFFICE BUILDING (MULTI-STORY) • 307 SF
      1680 Michigan Ave Ste 730e, Miami Beach, FL 33139-2551
      View Details

    Similar Nearby for Sale

    • $12,500,000
      5,000 SF

      Miami Beach Office Building For Sale

      Prime location office building with high visibility in Miami Beach.
      1801 Alton Rd, Miami Beach, FL 33139
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    • $6,969,696

      Miami Beach Office For Sale

      Stand-alone building in South Beach, suitable for various uses.
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    • $5,850,000
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      South Beach Trophy Office Building

      Iconic Miami Beach Office, Prime Location
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    • $899,000
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      Prime Miami Beach Office Suite

      Luxury Office, Stunning Views, Lincoln Road
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    • $3,900,000

      Miami Beach Standalone Building

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    • $5,900,000

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      Boutique office building in the heart of South Florida.
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    Similar Nearby for Lease

    • Contact for pricing
      21,208 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
    • 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
    • $60 SF/Yr
      67,188 SF

      South Beach Office Space for Lease

      Prime South Beach location, multiple suites available
      555 Washington Ave, Miami Beach, FL 33139
      View Details
    • Contact for pricing

      South Beach Office Space for Lease

      Prime Collins Ave location, all utilities included.
      826 Collins Ave, Miami Beach, FL 33139
      View Details
    • $60 SF/Yr
      22,000 SF

      Jefferson Ave Office Suites

      Miami Beach luxury office space.
      420-426 Jefferson Ave, Miami Beach, FL 33139
      View Details
    • $720 /Mo
      10,033 SF

      Lincoln Road Office Condo Lease

      Prime South Beach Office Space Available
      605 Lincoln Rd, Miami Beach, FL 33139
      View Details
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    Miami Beach, FL 33139-3172
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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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