Justin Bieber's "drag race" through Miami Beach was captured on surveillance video ... and backs up evidence TMZ first uncovered -- there didn't appear to be any high-speed racing going down at all.
In the video ... Bieber is leading in the Lambo, while his buddy Khalil drives BEHIND him in the Ferrari, and an SUV drives along side of both cars.
Single-file driving at reasonable speed ... with an SUV preventing any passing ... would make a race between Bieber and Khalil near impossible.
The video -- obtained by CBS4 in Miami -- also shows police tailing the group for a few blocks.
We broke the story ... the rental place where Justin got the cars had GPS tracking devices on the vehicles -- showing they were both doing 27 mph at the time of the alleged racing.