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861 Washington Ave 14,188 SF 100% Leased Retail Building Miami Beach, FL 33139 For Sale
Investment Highlights
- Prime Miami Beach location, high-visibility corner two blocks from Ocean Drive.
- Strong rents and flexibility with expirations up to 2028.
- Proposed CD-2 upzoning may allow FAR 4.0 & 175 units/acre.
- Fully leased with 100% occupancy across hostel and four NNN retail tenants.
- 14,188 SF Art Deco mixed-use building on 6,500 SF lot, built in 1937.
- Surrounded by $2.5B+ in new developments and iconic Miami Beach landmarks.
Executive Summary
861 Washington Avenue is a fully leased mixed-use investment property in Miami Beach. The 14,188 SF Art Deco building includes a 28-room hostel and four NNN retail tenants (Pizza Rustica, SOBE Tattoo, Aladdin’s Smoke Shop, and Wireless Miami). 100% occupancy, generating $582,833 NOI (2024). Located two blocks from Ocean Drive and the beach, with significant redevelopment potential under proposed CD-2 upzoning.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,188 SF
Building Class
C
Year Built
1937
NOI
$582,833
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.17
Lot Size
0.15 AC
Zoning
CD-2, Miami Beach - Commercial
Frontage
50’ on Washington Ave
Amenities
- Corner Lot
Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (77)
Nearby Major Retailers
Property Taxes
| Parcel Number | 02-4203-004-0560 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $4,072,860 |
Property Taxes
Parcel Number
02-4203-004-0560
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$4,072,860
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861 Washington Ave
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