Corner Office
For Sale
$495,000
Pending
1111 Kane Concourse, Bay Harbor Islands, FL 33154
Commercial Sale, Bay Harbor Islands, FL
Property Size864 SF
Lot Size2.30 Acres
Days on Market76
Property Features for 1111 Kane Concourse
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
6000
Parking
4
Subdivision
22
Standard status
Pending
APN
13-22-27-083-0420
Lot size
2.30 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
CONCOURSE PLAZA CONDO UNITS 3-56 THRU 3-75 UNDIV % AS RECORDED OR 11611-781 INT IN COMMON ELEMENTS OFF REC 11611-781 OR 19968-3909 1001 1 CO
Tax Annual Amount
4800
HOA Fee
$1,200 Monthly
Legal Description
CONCOURSE PLAZA CONDO UNITS 3-56 THRU 3-75 UNDIV % AS RECORDED OR 11611-781 INT IN COMMON ELEMENTS OFF REC 11611-781 OR 19968-3909 1001 1 CO
Building Details
Year built
1982
Floors in Building
1
Flooring type
Laminate
Building materials
Aluminum Siding, Block
Roof type
Concrete
Listing Agency:
Charles Rutenberg Realty FTL
(954) 396-3001
Listed By:
Oswaldo Guerra, PA · License #3169265
(954) 274-2291
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 13 at 9:06AM
MLS# A12009125
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.
This 864 sqft office unit occupies a corner position and is configured with three private offices, a conference room, and a kitchen or bar area. The suite has laminate flooring and views from each office and corner. A parking area is available for users of the property.
The property is located at 1111 Kane Concourse in Bay Harbor Islands, Florida, within Miami-Dade County. The building was constructed in 1982 and features block and aluminum siding construction with a concrete roof. The existing layout provides a combination of private workspace, meeting space, and staff or hospitality area in a ready-for-use commercial setting.
The property is located at 1111 Kane Concourse in Bay Harbor Islands, Florida, within Miami-Dade County. The building was constructed in 1982 and features block and aluminum siding construction with a concrete roof. The existing layout provides a combination of private workspace, meeting space, and staff or hospitality area in a ready-for-use commercial setting.
Key Highlights
- 864 sqft corner office unit
- Three private offices and a conference room
- Kitchen or bar area included
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
$22,900
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
4.63%
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%
$458,000
$458.0K
Cap Rate 7%
$327,143
$327.1K
Cap Rate 9%
$254,444
$254.4K
Market Conditions
NOI Build-Up for 864 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
$39.4K $45.60/SF
− Vacancy
−$8.9K −$10.26/SF
EGI
$30.5K $35.34/SF
− OpEx
−$7.6K −$8.84/SF
NOI
$22.9K $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%
$458,000
Cap Rate 7%
$327,143
Cap Rate 9%
$254,444
Alternative Uses
Best Use
Office B
$327.1K
$286.3K – $381.7K
NOI $22,900 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$438.3K
$383.6K – $511.4K
NOI $30,684 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
2,007
Businesses Nearby
Explore this area
Business Placement
Demographics for 33154, FL
14,792
Population
10,104
Households
1.5
Avg Household Size
46
Median Age
59%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
7,785
Density / Sq Mi
$87,806
Median Household Income
$53,711
Median Earnings
$2,245
Median Rent
$741,400
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 South region
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Frequently Asked Questions
What type of property is this?
Office units - Includes a conference room, three private offices, and a kitchen or bar area.
Where is this office units located?
The property is located at 1111 Kane Concourse Bay Harbor Islands, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 864 sqft corner office unit; Three private offices and a conference room; Kitchen or bar area included
