Turnkey Office Suite with Bullpen
For Sale
$530,000
1607 Ponce De Leon Blvd, Coral Gables, FL 33134
SINGLE_FAMILY - Coral Gables, FL
Property Size974 SF
Lot Size0.02 Acres
Price / SF$544.15
Days on Market55
Property Features for 1607 Ponce De Leon Blvd
General Information
Property type
Residential
Property subtype
Office
Zoning description
6400
Parking
3
Parking features
Covered, Assigned, Guest
Security features
Security Lighting
Subdivision
41
Standard status
Active
APN
03-41-08-121-0620
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE PONCE DE LEON CONDO UNIT 201 UNDIV 1.2610% INT IN COMMON ELEMENTS OFF REC 26524-1059
Tax Annual Amount
8047
HOA Fee
$951 Monthly
Legal Description
THE PONCE DE LEON CONDO UNIT 201 UNDIV 1.2610% INT IN COMMON ELEMENTS OFF REC 26524-1059
Utilities
Heating system
Central, Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
concierge services
24 hour security system
Building Details
Year built
2008
Flooring type
Parquet Wood
Building materials
Block
Roof type
Built-Up
Listing Agency:
RE/MAX United Realty · RE/MAX International
(305) 575-2727
Listed By:
Matilde Aguirre · License #0364522
(305) 606-1069
Added: Jun 19
Changed: Aug 2
Last Checked: Aug 12 at 6:06PM
MLS# A12038926
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Turnkey office space in The Ponce de Leon Condominium building featuring two offices plus a large bullpen area with cabinetry. The suite includes a kitchen with a built-in microwave for eating and relaxing, and wall-to-wall windows facing north and west that bring in abundant natural light. Flooring is parquet wood, and the space is served by central heat and central air.
Built in 2008, the building provides 24-hour security and concierge services, and the second floor is set up for only 9 commercial offices. The suite includes 3 covered and gated parking spaces and is located about 10 minutes (3.3 miles) from Miami International Airport.
Designed for professional use, the layout can support an accountant, title company, law office, support services, real estate office, architect office, or similar professional practice.
Built in 2008, the building provides 24-hour security and concierge services, and the second floor is set up for only 9 commercial offices. The suite includes 3 covered and gated parking spaces and is located about 10 minutes (3.3 miles) from Miami International Airport.
Designed for professional use, the layout can support an accountant, title company, law office, support services, real estate office, architect office, or similar professional practice.
Key Highlights
- Turnkey second‑floor office suite with two offices and a large bullpen area with cabinetry
- Wall‑to‑wall windows facing north and west for abundant natural light
- Kitchen with built‑in microwave plus a layout that supports professional office use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,816
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$516,320
$516.3K
Cap Rate 7%
$368,800
$368.8K
Cap Rate 9%
$286,844
$286.8K
Market Conditions
NOI Build-Up for 974 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.4K $45.60/SF
− Vacancy
−$10.0K −$10.26/SF
EGI
$34.4K $35.34/SF
− OpEx
−$8.6K −$8.84/SF
NOI
$25.8K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$516,320
Cap Rate 7%
$368,800
Cap Rate 9%
$286,844
Alternative Uses
Best Use
Office B
$368.8K
$322.7K – $430.3K
NOI $25,816 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$494.2K
$432.4K – $576.5K
NOI $34,591 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Turnkey second-floor office suite with bullpen cabinetry, wall-to-wall north and west windows, and 3 covered gated spaces.
Where is this office units located?
The property is located at 1607 Ponce De Leon Blvd Coral Gables, FL.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Turnkey second‑floor office suite with two offices and a large bullpen area with cabinetry; Wall‑to‑wall windows facing north and west for abundant natural light; Kitchen with built‑in microwave plus a layout that supports professional office use
