Move-In Ready Office
For Sale
$949,000
1200 Brickell Avenue #505-B, Miami, FL 33131
Updated office suite with private offices, reception, conference room, and kitchenette in a professional Brickell setting.
Property Size2,146 SF
Price / SF$442.22
Days on Market50
Property Features for 1200 Brickell Avenue #505-B
General Information
Standard status
Active
Size
2,146 SF
Zoning
6407
Additional Details
Office Units
4
Taxes and HOA fees
Annual Taxes
$15,886
Building Details
Year Built
1982
Buildings
1
Stories
20
Listing Agency:
BHHS EWM Realty
(773) 208-2992
Listed By:
Barbara Gretsch · License #3643446
(773) 208-2992
Source:
Laerrealty
Added: Jul 6
Changed: Aug 20
Last Checked: Aug 23 at 2:55AM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This move-in ready office suite offers a functional, efficient layout designed for day-to-day operations. The space includes four private offices, a reception area, a conference room, a printer/copy room, and a kitchenette, providing a practical mix of client-facing and internal work areas. The suite is presented as ready for immediate use, supporting both owner-users and investors looking for usable office space without added ramp-up time.
The property is located within 1200 Brickell Avenue in the Brickell district of Miami. The suite enjoys an outlook toward a planned landscaped garden pavilion and the Ora by Casa Tua development, contributing to a more open view from the office.
For tenants and buyers seeking a turnkey office, the combination of private offices and shared functions like reception and conference supports a broad range of professional services. Its established configuration makes it well-suited for organizations that need dedicated rooms for leadership, meetings, and administrative support, while maintaining an approachable front-of-house entry through the reception area.
The property is located within 1200 Brickell Avenue in the Brickell district of Miami. The suite enjoys an outlook toward a planned landscaped garden pavilion and the Ora by Casa Tua development, contributing to a more open view from the office.
For tenants and buyers seeking a turnkey office, the combination of private offices and shared functions like reception and conference supports a broad range of professional services. Its established configuration makes it well-suited for organizations that need dedicated rooms for leadership, meetings, and administrative support, while maintaining an approachable front-of-house entry through the reception area.
Key Highlights
- 2,146 SF office suite with a functional layout for immediate occupancy
- Features four private offices plus reception area and a conference room
- Includes printer/copy room and 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
$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
Lease Details
4
Office units
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 - Updated office suite with private offices, reception, conference room, and kitchenette in a professional Brickell setting.
Where is this office units located?
The property is located at 1200 Brickell Avenue #505-B 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: 2,146 SF office suite with a functional layout for immediate occupancy; Features four private offices plus reception area and a conference room; Includes printer/copy room and kitchenette
