1331 Washington AveMiami Beach, FL 33139

Property Details for 1331 Washington Ave

Year built

1925

Construction

CONCRETE

Lot size

0.15 AC

Property size (Sq ft)

4,300 SF

Zone code

6400:COMMERCIAL,CENTRAL

Property type

Outlet malls

APN

02-3234-008-0970

APU

232340080970

Description

This exceptional 2,150 square foot retail space is located at 1331 Washington Avenue in the heart of Miami Beach's vibrant South Beach submarket. Situated in a fully renovated, single-story building (built in 1935, renovated in 2023) this storefront boasts 50 feet of frontage on Washington Avenue, enjoying high visibility and significant foot traffic (an average of 14,200 cars daily). The property features impact glass, two brand new A/C units, and on-site rear parking. Currently configured as dry retail, the space is adaptable to various uses, including restaurants (with potential landlord concessions). The building itself comprises 4,300 square feet, with a total of two suites. This particular unit offers a minimum divisible space of 2,150 square feet, with a maximum contiguous space of 4,300 square feet. The 6,500 square foot lot is zoned CD 2 in Miami-Dade County (APN: 02-3234-008-0970). The property is conveniently located four blocks from the beach, surrounded by thriving restaurants, retail shops, and new developments, including the Goodtime Hotel. Currently, the space includes one restroom. This is a gross lease opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $5,457,446

  6.5%

  $5,037,642

  7%

  $4,677,811

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,148,671

  Geo Method

  $4,148,671

• Alternative Use

  Use

  Valuation

  Residential

  $4,249,440

  Hospitality

  $3,892,464

  Educational

  $3,238,484

  Medical

  $3,349,861

  Retail

  $5,037,642

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.7847

Longitude

-80.1317

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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