Updated Office Suite with Private
For Sale
$949,000
1200 Brickell Ave, Miami, FL 33131
SINGLE_FAMILY - Miami, FL
Property Size2,146 SF
Lot Size0.05 Acres
Price / SF$442.22
Days on Market68
Property Features for 1200 Brickell Ave
General Information
Property type
Residential
Property subtype
Retail
Zoning description
6407
Parking features
Covered, Guest
Security features
Security
Directions
Driving Directions: Positioned at Brickell Avenue and Coral Way, the location is moments from Mary Brickell Village and Brickell City Centre, along with some of Miami's most established dining destinations.
Subdivision
41
Standard status
Active
APN
01-41-38-142-0920
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
1200 BRICKELL CONDO UNIT 505-B UNDIV 0.360% INT IN COMMON ELEMENTS OFF REC 26193-0065
Tax Annual Amount
15886
Legal Description
1200 BRICKELL CONDO UNIT 505-B UNDIV 0.360% INT IN COMMON ELEMENTS OFF REC 26193-0065
Utilities
Cooling system
Central Air
Building Details
Year built
1982
Flooring type
Carpet
Building materials
Block
Roof type
Concrete
Listing Agency:
BHHS EWM Realty
(305) 960-2400
Listed By:
Barbara Gretsch · License #3643446
(773) 208-2992
Added: Jun 6
Changed: Aug 3
Last Checked: Aug 12 at 1:06PM
MLS# A11972022
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 updated, move-in ready office suite offers a functional interior layout designed for day-to-day operations. The space includes four private offices supported by a reception area, a conference room, a dedicated printer/copy room, and a kitchenette, creating a practical flow for client meetings and internal work.
The suite is located at 1200 Brickell Ave in the Brickell district. The office overlooks a planned landscaped garden pavilion and the Ora by Casa Tua development, providing an open outlook from within the professional setting.
With its immediate usability and complete mix of private work spaces plus shared areas for receiving visitors and hosting meetings, the suite is well-suited to an owner-user seeking a ready-to-occupy office, or to an investor looking for an office configuration that can support ongoing business use. Available for sale and lease, the property supports flexible acquisition plans in a central commercial market.
The suite is located at 1200 Brickell Ave in the Brickell district. The office overlooks a planned landscaped garden pavilion and the Ora by Casa Tua development, providing an open outlook from within the professional setting.
With its immediate usability and complete mix of private work spaces plus shared areas for receiving visitors and hosting meetings, the suite is well-suited to an owner-user seeking a ready-to-occupy office, or to an investor looking for an office configuration that can support ongoing business use. Available for sale and lease, the property supports flexible acquisition plans in a central commercial market.
Key Highlights
- Move‑in ready 2,146 SF office suite in Brickell
- Includes four private offices plus reception, conference room, printer/copy room, and kitchenette
- Central air and carpet flooring
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
$61,563
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
6.49%
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%
$1,231,260
$1.2M
Cap Rate 7%
$879,471
$879.5K
Cap Rate 9%
$684,033
$684.0K
Market Conditions
NOI Build-Up for 2,146 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
$96.6K $45.00/SF
− Vacancy
−$14.5K −$6.75/SF
EGI
$82.1K $38.25/SF
− OpEx
−$20.5K −$9.56/SF
NOI
$61.6K $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%
$1,231,260
Cap Rate 7%
$879,471
Cap Rate 9%
$684,033
Alternative Uses
Best Use
Office B
$879.5K
$769.5K – $1.03M
NOI $61,563 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,399 @ 7.0% cap · market cap 10.68%
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 - Move-in ready suite with four private offices, reception, conference room, kitchenette, and printer/copy room.
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 $949,000.
What are key features of this property?
This property features: Move‑in ready 2,146 SF office suite in Brickell; Includes four private offices plus reception, conference room, printer/copy room, and kitchenette; Central air and carpet flooring
