Four-Unit Office
For Sale
$583,000
1110 Brickell Avenue 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 Market47
Property Features for 1110 Brickell Avenue 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:
Chenoregroup
Added: Sep 1
Changed: Oct 10
Last Checked: Oct 7 at 4:30PM
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
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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 / Yr
$16,954
Cap Rate
2.91%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
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 Avenue 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
