601 NE 1 Ave
Ownership and recorded sale history
What has actually traded in Downtown Miami
Recorded transactions for retail properties in downtown Miami around NE 1st Avenue, narrowed to the buildings closest to this one in size and age.
Reading this against the corridor
The county assesses this building at $629/SF. Recorded sales of retail properties in Downtown Miami since 2022 have a median of $504/SF, across a range of $133/SF to $1,343/SF.
Across those 8 recorded sales, the median sale price came in at 1.25× the county assessed value. Assessed values are set for taxation and are reset on their own schedule, so they routinely sit apart from transaction prices — in either direction.
At 12,883 SF this building is materially larger than the 9,080 SF median for retail properties trading in this corridor, which narrows the pool of directly comparable transactions.
By footprint it sits in roughly the 57th percentile of retail properties that have traded in this corridor — 6 of the 14 recorded sales were of larger buildings.
The assessment works out 25% above the median price per square foot of the comparable sales shown below. That is an arithmetic comparison of a tax figure against transaction prices, not a statement about what this building would sell for.
The lot runs 3.6× the building footprint — 46,888 SF of land under 12,883 SF of structure. Ratios that wide are usually where expansion or redevelopment questions start.
What this means for this building depends on what no public record contains — the leases, the condition, the rent roll.
Recorded sales of comparable size and vintage
| Property | Size | Built | Sold | Price | Per SF |
|---|---|---|---|---|---|
150 NE 8 St | 106,455 | 2024 | 2026 | $52,278,600 | $491 |
601 NE 1 Ave + 1 more parcel | 67,327 | 2024 | 2024 | $23,683,300 | $352 |
900 Biscayne Blvd R-101 | 7,335 | 2008 | 2024 | $6,200,000 | $845 |
488 NE 18 St Cu-4 + 1 more parcel | 10,629 | 2018 | 2024 | $5,500,000 | $517 |
50 Biscayne Blvd Cu1 + 2 more parcels | 7,531 | 2007 | 2024 | $1,000,100 | $133 |
1000 Biscayne Blvd Cu 1 | 5,864 | 2019 | 2023 | $7,875,000 | $1,343 |
888 Biscayne Blvd Cu7b + 1 more parcel | 2,065 | 2008 | 2023 | $1,164,000 | $564 |
128 NE 1 Ave | 12,597 | 1937 | 2022 | $4,700,000 | $373 |
Important Disclosures
Not a listing. The property described on this page is not listed for sale or lease by Justin Crow or Mattis Advisors. Justin Crow has no listing authority for this property and does not represent the owner unless explicitly engaged in a written agreement.
Not an appraisal. Nothing on this page constitutes an appraisal, a Broker's Opinion of Value, or a Broker Price Opinion under Florida Statute 475.612. The submarket benchmarks shown are general market observations and are not specific opinions of value for this property.
Public records. All property data is sourced from the Miami-Dade County Property Appraiser's public records and is reproduced here for informational purposes. Property data may be inaccurate or out of date. Justin Crow makes no warranty as to the accuracy or completeness of any information on this page.
Owner opt-out. If you are the owner of this property and would prefer this page be removed, please email justin@mattisadvisors.com with the subject "Opt-out — Folio 0101050902100." We will remove the page within 24 hours of receipt, no questions asked.
About. Justin Crow is a Florida-licensed real estate associate operating under Mattis Advisors. Brokerage activity is conducted through Mattis Advisors.