Fifth-Floor Office
For Sale
Under Contract
$398,500
1111 N Kane Concourse, Bay Harbor Islands, FL 33154
Commercial Sale, Bay Harbor Islands, FL
Property Size747 SF
Lot Size0.92 Acres
Price / SF$533.47
Days on Market47
Property Features for 1111 N Kane Concourse
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
6000
Security features
Security System
Directions
From I-95, take exit 10B toward NE 125th Street / State Road 922 East. Continue east across the Broad Causeway into Bay Harbor Islands. Turn left onto Kane Concourse, and the building 1111 Kane Concourse will be on your right.
Subdivision
22
Standard status
Active Under Contract
APN
13-22-27-083-1033
Lot size
0.92 Acres
Taxes and HOA fees
Tax Description
CONCOURSE PLAZA CONDO UNITS 5-71 THRU 5-88 UNDIV % AS RECORDED OR 11611-781 INT IN COMMON ELEMENTS OFF REC 11611-781 OR 16623-2640 1294 1
HOA Fee
$1,200 Monthly
Legal Description
CONCOURSE PLAZA CONDO UNITS 5-71 THRU 5-88 UNDIV % AS RECORDED OR 11611-781 INT IN COMMON ELEMENTS OFF REC 11611-781 OR 16623-2640 1294 1
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
upgraded hallways
Building Details
Year built
1982
Floors in Building
6
Number of units
1
Flooring type
Tile
Building materials
Block
Roof type
Concrete
Listing Agency:
Keller Williams Realty SW
(954) 237-0400
Listed By:
Maria Korman · License #3079498
(954) 588-2850
Added: Aug 5
Changed: Sep 4
Last Checked: Sep 20 at 12:06PM
MLS# A11982212
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 fifth-floor office unit in Bay Harbor Islands is arranged as two private office suites with a reception and living room area. Tile flooring, central air, block construction, public water and public sewer serve the space. The layout can also be reconfigured into one larger executive office, providing flexibility for an owner-user or investor.
The building, constructed in 1982, includes upgraded hallways, modern elevators, free guest parking, and secured parking for owners and tenants. The property is located at 1111 N Kane Concourse, near Bal Harbour Shops, Surfside, and Miami Beach, with access to the professional and commercial environment of Bay Harbor Islands.
The building, constructed in 1982, includes upgraded hallways, modern elevators, free guest parking, and secured parking for owners and tenants. The property is located at 1111 N Kane Concourse, near Bal Harbour Shops, Surfside, and Miami Beach, with access to the professional and commercial environment of Bay Harbor Islands.
Key Highlights
- Fifth‑floor office unit configured with two private suites and a reception/living room area
- Flexible layout can be combined into one larger executive office
- Tile flooring and central air conditioning
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
$19,799
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
4.97%
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%
$395,980
$396.0K
Cap Rate 7%
$282,843
$282.8K
Cap Rate 9%
$219,989
$220.0K
Market Conditions
NOI Build-Up for 747 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
$34.1K $45.60/SF
− Vacancy
−$7.7K −$10.26/SF
EGI
$26.4K $35.34/SF
− OpEx
−$6.6K −$8.84/SF
NOI
$19.8K $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%
$395,980
Cap Rate 7%
$282,843
Cap Rate 9%
$219,989
Alternative Uses
Best Use
Office B
$282.8K
$247.5K – $330.0K
NOI $19,799 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.0K
$331.6K – $442.2K
NOI $26,529 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
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 - Two private suites and a reception area create a practical professional office layout in a maintained commercial building.
Where is this office units located?
The property is located at 1111 N Kane Concourse Bay Harbor Islands, FL.
What is the asking price?
The asking price for this property is $398,500.
What are key features of this property?
This property features: Fifth‑floor office unit configured with two private suites and a reception/living room area; Flexible layout can be combined into one larger executive office; Tile flooring and central air conditioning
