Boutique Office Condo
For Sale
Contact for pricing
1110 Brickell Avenue Suite 208, Miami, FL 33131
Newly renovated office condo suite in a boutique tower with convenient access to major transit and business amenities.
Property Size671 SF
Price / SF$819.67
Days on Market51
Property Features for 1110 Brickell Avenue Suite 208
General Information
Standard status
Active
Size
671 SF
Class
B
Property subtype
Office
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Stories
9
Tenancy
Single
Listing Agency:
CBRE - Miami
Listed By:
Alex Cesar · License #FL 703801
(305) 381-6431
Source:
Crexi
Added: Jul 17
Changed: Aug 26
Last Checked: Sep 1 at 7:01AM
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 CBRE - Miami
Investment Insights
Based on property information with market context.
1110 Brickell Avenue is a boutique office condo tower offering a professional office environment. The property has been newly renovated/modernized, and the suite is listed as Suite 208.
Located in the heart of Brickell, the building provides immediate access to major banks, restaurants, luxury residential towers, and street-level amenities. The central Brickell Avenue location also offers steps-away access to Metrorail and Metromover. Major highway access to I-95 is described as easy, with Miami International Airport and Port of Miami both minutes away.
This offering is presented for both owner-users seeking immediate or near-term occupancy and investors looking for an income-producing asset with flexibility for future occupancy.
Located in the heart of Brickell, the building provides immediate access to major banks, restaurants, luxury residential towers, and street-level amenities. The central Brickell Avenue location also offers steps-away access to Metrorail and Metromover. Major highway access to I-95 is described as easy, with Miami International Airport and Port of Miami both minutes away.
This offering is presented for both owner-users seeking immediate or near-term occupancy and investors looking for an income-producing asset with flexibility for future occupancy.
Key Highlights
- Newly renovated/modernized boutique office condo tower in the heart of Brickell
- Professional office environment with convenient access to major banks, restaurants, and luxury residential towers
- Steps from Metrorail and Metromover for quick transit to Brickell’s core business and dining
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
$19,249
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
3.50%
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%
$384,980
$385.0K
Cap Rate 7%
$274,986
$275.0K
Cap Rate 9%
$213,878
$213.9K
Market Conditions
NOI Build-Up for 671 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
$30.2K $45.00/SF
− Vacancy
−$4.5K −$6.75/SF
EGI
$25.7K $38.25/SF
− OpEx
−$6.4K −$9.56/SF
NOI
$19.2K $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%
$384,980
Cap Rate 7%
$274,986
Cap Rate 9%
$213,878
Alternative Uses
Best Use
Office B
$275.0K
$240.6K – $320.8K
NOI $19,249 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$452.9K
$396.3K – $528.4K
NOI $31,705 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
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 building - Newly renovated office condo suite in a boutique tower with convenient access to major transit and business amenities.
Where is this office building located?
The property is located at 1110 Brickell Avenue Suite 208 Miami, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Newly renovated/modernized boutique office condo tower in the heart of Brickell; Professional office environment with convenient access to major banks, restaurants, and luxury residential towers; Steps from Metrorail and Metromover for quick transit to Brickell’s core business and dining
