Built-Out Office
For Sale
$3,599,000
1200 Brickell Ave, Miami, FL 33131
Half-floor office suite with 18 private offices, conference rooms, reception, and an open bullpen with cubicles.
Property Size5,873 SF
Price / SF$612.80
Days on Market389
Property Features for 1200 Brickell Ave
General Information
Standard status
Active
Size
5,873 SF
Class
A
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$3,594
Amenities
modern lobby
circular drive with security
Dirty French restaurant on-site
Central Air, Electric
3
9 Parking Spaces. Covered, Guest Parking, Shared Driveway.
US Highway.
Building Details
Year Built
1982
Stories
20
Listing Agency:
Globalty Investment LLC
(561) 945-4345
Listed By:
Thomas Pichet · License #A11729801
(561) 945-4345
Source:
Xome
Added: Jul 21, 2025
Changed: Aug 12
Last Checked: Aug 12 at 4:14AM
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 Globalty Investment LLC
Investment Insights
Based on property information with market context.
This fully built-out half-floor office suite is designed for a professional, contemporary workplace. The space includes 18 private offices, three conference rooms, a break area with kitchenette, and a reception area with two phone booths. An open bullpen currently provides seating for 10 cubicles.
Located at 1200 Brickell Ave in the heart of Brickell at the intersection of Brickell Avenue and SW 13th (Coral Way), the building offers a modern lobby and circular drive with security. The property also includes an on-site Dirty French restaurant and is served by public transportation, with shopping and dining nearby.
The suite configuration supports both private office workflows and collaborative team use, with dedicated meeting rooms alongside an open bullpen area.
Located at 1200 Brickell Ave in the heart of Brickell at the intersection of Brickell Avenue and SW 13th (Coral Way), the building offers a modern lobby and circular drive with security. The property also includes an on-site Dirty French restaurant and is served by public transportation, with shopping and dining nearby.
The suite configuration supports both private office workflows and collaborative team use, with dedicated meeting rooms alongside an open bullpen area.
Key Highlights
- Half‑floor office suite in 1200 Brickell (Class A), built in 1982
- Layout includes 18 private offices, 3 conference rooms, and a reception area
- Open bullpen with 10 cubicles, plus break area with kitchenette
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
$168,482
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
4.68%
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%
$3,369,640
$3.4M
Cap Rate 7%
$2,406,886
$2.4M
Cap Rate 9%
$1,872,022
$1.9M
Market Conditions
NOI Build-Up for 5,873 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
$264.3K $45.00/SF
− Vacancy
−$39.6K −$6.75/SF
EGI
$224.6K $38.25/SF
− OpEx
−$56.2K −$9.56/SF
NOI
$168.5K $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%
$3,369,640
Cap Rate 7%
$2,406,886
Cap Rate 9%
$1,872,022
Alternative Uses
Best Use
Office B
$2.41M
$2.11M – $2.81M
NOI $168,482 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.96M
$3.47M – $4.63M
NOI $277,502 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13,007
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 - Half-floor office suite with 18 private offices, conference rooms, reception, and an open bullpen with cubicles.
Where is this office units located?
The property is located at 1200 Brickell Ave Miami, FL.
What is the asking price?
The asking price for this property is $3,599,000.
What are key features of this property?
This property features: Half‑floor office suite in 1200 Brickell (Class A), built in 1982; Layout includes 18 private offices, 3 conference rooms, and a reception area; Open bullpen with 10 cubicles, plus break area with kitchenette
