Retail properties on Washington Avenue list for total of $7.5M

Two retail properties were just listed at 1331 and 1417 Washington Avenue for a total of $7.55 million.

The prices of 1331 and 1417 equate to $489 and $623 per square foot. Individually, the properties are listed at $3.65 million and $3.9 million, respectively.

Marcus & Millichap’s Alejandro D’Alba and Scott C. Sandelin have the listings.

The building at 1331 Washington Avenue boasts 4,300 square feet of ground floor retail space. The 1417 Washington Avenue property encompasses 6,261 square feet, split into 4,800 square feet of ground retail space and 1,461 square feet of space that could be office, storage, or multi-family use space, according to a press release.

Property records show the seller of 1331 Washington is Boca Raton attorney William Weisman, who bought it for $2.7 million in 2015. Miami investor Peter J. Neary is the seller of 1417 Washington Avenue, which he purchased for $2.2 million in 2008.

Only a few blocks down from the Marcus & Millichap listings, the Moxy hotel development was approved last December by the Miami Beach Historic Preservation Board for 915, 947 and 955 Washington Avenue.

Another new hotel and retail development from Miami developer Andrew Joblon was also approved on the 600 block of Washington Avenue in May of last year. – Grace Guarnieri