Corner Office Unit with Natural
For Sale
$750,000
1110 Brickell Ave #609A & 609B, Miami, FL 33131
Bright corner office suite with multiple rooms, a reception area, and generous window exposure.
Property Size944 SF
Price / SF$794.49
Days on Market727
Property Features for 1110 Brickell Ave #609A & 609B
General Information
Standard status
Active
Size
944 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,787
Amenities
Carpet Flooring
Valet
Building Details
Year Built
1971
Owner Occupied
No
Listing Agency:
FORTUNE CHRISTIE'S INTL R.E.
(305) 542-9470
Listed By:
MICHAEL RAMIREZ GARCIA · License #A12062109
Source:
Corcoran
Added: Aug 11, 2024
Changed: Aug 2
Last Checked: Aug 7 at 2:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of FORTUNE CHRISTIE'S INTL R.E.
Investment Insights
Based on property information with market context.
This 944-square-foot office unit occupies a corner position at 1110 Brickell Ave #609A & 609B. The layout includes three separate rooms, a reception area, and dedicated space for files and supplies. Large windows provide natural light throughout the suite. The property was built in 1971 and is currently tenant occupied through April 30,2028.
The office is located near major roads, Metro Rail, and Metro Mover connections. High-end residential condominiums and hotels are also nearby, placing the suite within an established mixed-use business environment. Access to 2 parking spaces is included, with additional parking spaces available.
The office is located near major roads, Metro Rail, and Metro Mover connections. High-end residential condominiums and hotels are also nearby, placing the suite within an established mixed-use business environment. Access to 2 parking spaces is included, with additional parking spaces available.
Key Highlights
- 944 usable square feet of office space
- Corner suite with large windows and natural light
- Three separate rooms plus a reception area
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
$27,081
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
3.61%
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%
$541,620
$541.6K
Cap Rate 7%
$386,871
$386.9K
Cap Rate 9%
$300,900
$300.9K
Market Conditions
NOI Build-Up for 944 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
$42.5K $45.00/SF
− Vacancy
−$6.4K −$6.75/SF
EGI
$36.1K $38.25/SF
− OpEx
−$9.0K −$9.56/SF
NOI
$27.1K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /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%
$541,620
Cap Rate 7%
$386,871
Cap Rate 9%
$300,900
Alternative Uses
Best Use
Office B
$386.9K
$338.5K – $451.4K
NOI $27,081 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$637.2K
$557.6K – $743.4K
NOI $44,604 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12,688
Businesses Nearby
Explore this area
Business Placement
Demographics for 33131, FL
26,213
Population
18,872
Households
1.4
Avg Household Size
37
Median Age
77%
College-Educated
98%
High-School Grad
0.5 sq mi
ZIP Area
52,426
Density / Sq Mi
$143,114
Median Household Income
$86,331
Median Earnings
$2,847
Median Rent
$621,700
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Bright corner office suite with multiple rooms, a reception area, and generous window exposure.
Where is this office units located?
The property is located at 1110 Brickell Ave #609A & 609B Miami, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 944 usable square feet of office space; Corner suite with large windows and natural light; Three separate rooms plus a reception area
