1674 Meridian AveMiami Beach, FL 33139

Property Details for 1674 Meridian Ave

Year built

1959

Construction

CONCRETE

Lot size

0.19 AC

Property size (Sq ft)

33,584 SF

Zone code

6600:COMMERCIAL,LIBERAL

Property type

Office properties

Property subtype

Office buildings

APN

02-3234-007-0580

APU

232340070580

Description

This stunning, five-story Class A office building at 1674 Meridian Ave in Miami Beach, Florida (33139), offers 32,015 square feet of meticulously renovated space. Built in 1959 and extensively renovated in 2022, the property boasts a modern glass façade, a new lobby, updated common areas and restrooms, modernized elevators, a new roof, and a new cooling tower. A nearly $3.5 million investment has transformed this building, resulting in a fresh, contemporary feel. The 6,708 square feet of currently vacant space is available in multiple configurations ranging from 780 to 3,774 square feet, perfect for a variety of businesses. Each floor features new HVAC systems installed within the last five years, ensuring optimal climate control. Tenants enjoy abundant natural light thanks to new floor-to-ceiling impact-resistant windows and high ceilings. The building's column-free design maximizes usable space. The location is unparalleled, just one block from Lincoln Road Mall, placing tenants within minutes of the Miami Beach Convention Center, The Fillmore, New World Symphony, and Soundscape Park. Numerous amenities are nearby, including Lincoln Eatery, Starbucks, and over 3,500 parking spaces in three nearby garages. The building provides 24-hour access and is situated in a vibrant arts and entertainment district. With a 3:1,000 parking ratio, ample parking is readily available. This is a truly exceptional opportunity to secure premium office space in the heart of Miami Beach.

• CAP approach

  CAP return

  Valuation

  6%

  $28,995,866

  6.5%

  $26,765,414

  7%

  $24,853,598

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,857,970

  Geo Method

  $12,857,970

• Alternative Use

  Use

  Valuation

  Residential

  $33,189,114

  Hospitality

  $30,401,050

  Educational

  $25,293,316

  Medical

  $26,163,192

  Retail

  $39,345,160

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.7916

Longitude

-80.1369

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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