Four-Unit Office
New
For Sale
$583,000
1110 Brickell Ave 701b, Miami, FL 33131
Four private offices are leased under a triple-net structure with terms secured for the next two years.
Property Size591 SF
Price / SF$986.46
Days on Market2
Property Features for 1110 Brickell Ave 701b
General Information
Standard status
Active
Size
591 SF
Financials
Cap Rate
6%
Gross Income
$33,000
Additional Details
Office Units
4
Building Details
Year Built
1971
Tenancy
Multi
Listing Agency:
First Way Realty Services Inc
Listed By:
Carlos Visbal · License #3292495
(305) 967-2439
Source:
Mymiahomes
Added: Sep 1
Last Checked: Sep 2 at 7:20PM
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 First Way Realty Services Inc
Investment Insights
Based on property information with market context.
This office property at 1110 Brickell Ave 701b includes four private office spaces within a 591-size property. The offices are leased under a Triple Net structure, with lease terms secured for the next two years. The arrangement places property taxes, building insurance, and maintenance obligations with tenants as outlined in the lease agreements.
Located in Brickell, the property sits within Miami’s business district at a Brickell Avenue address. The asset was built in 1971 and is offered with a stated 6% capitalization rate. Current leases provide an established occupancy structure for the office units, while the compact configuration supports a straightforward commercial ownership profile.
Located in Brickell, the property sits within Miami’s business district at a Brickell Avenue address. The asset was built in 1971 and is offered with a stated 6% capitalization rate. Current leases provide an established occupancy structure for the office units, while the compact configuration supports a straightforward commercial ownership profile.
Key Highlights
- Four private office spaces
- Triple Net lease structure
- Lease terms secured for the next two years
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
$16,954
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
2.91%
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%
$339,080
$339.1K
Cap Rate 7%
$242,200
$242.2K
Cap Rate 9%
$188,378
$188.4K
Market Conditions
NOI Build-Up for 591 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
$26.6K $45.00/SF
− Vacancy
−$4.0K −$6.75/SF
EGI
$22.6K $38.25/SF
− OpEx
−$5.7K −$9.56/SF
NOI
$17.0K $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%
$339,080
Cap Rate 7%
$242,200
Cap Rate 9%
$188,378
Alternative Uses
Best Use
Office B
$242.2K
$211.9K – $282.6K
NOI $16,954 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$398.9K
$349.1K – $465.4K
NOI $27,925 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
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 - Four private offices are leased under a triple-net structure with terms secured for the next two years.
Where is this office units located?
The property is located at 1110 Brickell Ave 701b Miami, FL.
What is the asking price?
The asking price for this property is $583,000.
What are key features of this property?
This property features: Four private office spaces; Triple Net lease structure; Lease terms secured for the next two years
