Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    840 1st St Miami Beach, FL 33139-6705
    Back to Search
    Property profile & analytics

    840 1st St, Miami Beach, FL 33139-6705

    View on Map
    • Turn key restaurants
    • 2,364 SF
    • 0.07 lot acres
    Off-Market
    Last Sale Feb 23, 2025
    $4,540,000
    Property ID
    US18-0294657
    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

    • Turn key restaurants

    Property Details for 840 1st St

    Year built
    1957
    Construction
    CONCRETE
    Lot size
    0.07 lot acres
    Zone code
    6502:COMMERCIAL
    Property type
    Turn key restaurants
    APN
    02-4203-009-2400
    APU
    242030092400

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 23, 2025 $4,540,000 Tank First LLC 840 First Street Partners LLC Warranty Deed —
    May 3, 2005 $900,000 840 First Street Partners LLC Toufic & Rima INC Grant Deed $1.1M · Mellon United National Bank
    Mar 19, 2002 $900,000 Toufic & Rima INC Dotta LLC Grant Deed —
    Jun 6, 2001 $650,000 Dotta LLC Majestic Properties INC Grant Deed $500k · Ocean Bank
    — — 840 First Street Partners LLC — Deed Of Trust · related $950k · Sabadell United Bank NA

    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
    -80.1368
    Latitude
    25.7696
    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
    $19,900
    $1,037,750
    $178,470
    $1,216,220
    -
    $1,037,750
    $178,470
    $1,216,220

    Comparable in this City

    • Value Estimation by Request
      6,398 SF

      210 23rd St

      RESTAURANT
      210 23rd St, Miami Beach, FL 33139-1714
      View Details
    • Value Estimation by Request
      3,762 SF

      590 Washington Ave

      RESTAURANT
      590 Washington Ave, Miami Beach, FL 33139
      View Details
    • Value Estimation
      $5,550,000
      10,102 SF

      501 Lincoln Rd

      RESTAURANT
      501 Lincoln Rd, Miami Beach, FL 33139-2913
      View Details
    • Value Estimation
      $645,000
      15,886 SF

      820 Ocean Dr

      RESTAURANT
      820 Ocean Dr, Miami Beach, FL 33139-5801
      View Details
    • Value Estimation by Request
      2,212 SF

      1929 Purdy Ave

      RESTAURANT
      1929 Purdy Ave, Miami Beach, FL 33139-1427
      View Details
    • Value Estimation by Request
      10,316 SF

      1438 Collins Ave

      RESTAURANT
      1438 Collins Ave, Miami Beach, FL 33139-4104
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,200 SF

      South Beach Restaurant Opportunity

      Turn-key restaurant space in prime South of Fifth location.
      1 Collins Ave, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      5,870 SF

      Turn-Key Restaurant/Private Club Space

      Fully-equipped restaurant/club with 2,000 SF exterior courtyard in Miami Beach.
      1542 Washington Ave, Miami Beach, FL 33139
      View Details
    • $3,199,000

      Lincoln Road Restaurant - Miami Beach

      Iconic Art Deco Restaurant, Prime Location
      605 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • 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

      Miami Beach Commercial Space For Sale

      High-visibility commercial space suitable for restaurant, retail, or office.
      555 Jefferson Ave, Miami Beach, FL 33139
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Prime Lincoln Road Retail Space

      Retail, showroom, or restaurant spaces on Miami Beach's Lincoln Road.
      643-655 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      6,575 SF

      Prime Miami Beach Retail Space

      Restaurant and retail spaces in a high-traffic Miami Beach location.
      1201-1205 Washington Ave, Miami Beach, FL 33139
      View Details
    • Contact for pricing

      Miami Beach Retail/Restaurant Opportunities

      Retail and restaurant spaces available for lease in Miami Beach.
      609 5Th St, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      8,759 SF

      Prime Retail Space Miami Beach

      Exceptional retail opportunity in a vibrant, high-traffic Miami Beach location.
      820 Ocean Dr, Miami Beach, FL 33139
      View Details
    • Contact for pricing
      146,327 SF

      Lincoln Road Executive Office Suites

      Prestigious Office Space, Miami Beach
      1111 Lincoln Rd, Miami Beach, FL 33139
      View Details
    • Contact for pricing

      Restaurant/Retail Condo in Prime Location

      Restaurant/retail condo in luxury building, South of Fifth neighborhood.
      1 Collins Ave, 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.
    840 1st St
    Miami Beach, FL 33139-6705
    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
    840 1st St, 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!