Office Condo with 10 Private
For Sale
$1,285,000
1200 Brickell Avenue #520A-D, Miami, FL 33131
Office condo configured for law firms with private offices, conference space, reception, work stations, and a break room.
Property Size2,708 SF
Days on Market51
Property Features for 1200 Brickell Avenue #520A-D
General Information
Standard status
Active
Size
2,708 SF
Zoning
6407
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$17,698
Building Details
Building Size
2,708 SF
Year Built
1982
Stories
20
Listing Agency:
AG Real Estate Advisors, LLC
(786) 218-8964
Listed By:
Carlos A Chavarro · License #A11897016
(786) 218-8964
Source:
Laerrealty
Added: Jul 6
Changed: Aug 20
Last Checked: Aug 25 at 4:54AM
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 AG Real Estate Advisors, LLC
Investment Insights
Based on property information with market context.
This office condo is configured to support professional service uses, with 10 private offices, a conference room, a reception area, work stations, and a break room. It is located within a larger 20-story office building that provides a luxury lobby and an open landscape plaza, along with a sweeping semi-circular drop-off driveway for visitor convenience.
The building is positioned in the heart of Miami’s Financial District on a corner along Brickell Avenue at Coral Way. Access is described as convenient via South Miami Avenue, with major highway access to I-95. The property is also identified as being minutes from Miami International Airport and the Port of Miami. The surrounding area is characterized by nearby hotels and restaurants, as well as Mary Brickell Village.
For a tenant seeking a turnkey, multi-office layout, the current suite configuration supports client-facing reception, private consultations across multiple offices, and group meetings in the conference room. Work stations and a dedicated break room provide day-to-day operational space within the same suite, supporting efficient use of the office environment for teams that need both privacy and collaboration.
The building is positioned in the heart of Miami’s Financial District on a corner along Brickell Avenue at Coral Way. Access is described as convenient via South Miami Avenue, with major highway access to I-95. The property is also identified as being minutes from Miami International Airport and the Port of Miami. The surrounding area is characterized by nearby hotels and restaurants, as well as Mary Brickell Village.
For a tenant seeking a turnkey, multi-office layout, the current suite configuration supports client-facing reception, private consultations across multiple offices, and group meetings in the conference room. Work stations and a dedicated break room provide day-to-day operational space within the same suite, supporting efficient use of the office environment for teams that need both privacy and collaboration.
Key Highlights
- Office condo built in 1982, configured for law firms with 10 private offices plus reception area and work stations
- Includes 1 conference room and a break room for tenant use
- Located in Miami Financial District within a 20‑story office building
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
$77,686
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
6.05%
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%
$1,553,720
$1.6M
Cap Rate 7%
$1,109,800
$1.1M
Cap Rate 9%
$863,178
$863.2K
Market Conditions
NOI Build-Up for 2,708 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
$121.9K $45.00/SF
− Vacancy
−$18.3K −$6.75/SF
EGI
$103.6K $38.25/SF
− OpEx
−$25.9K −$9.56/SF
NOI
$77.7K $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%
$1,553,720
Cap Rate 7%
$1,109,800
Cap Rate 9%
$863,178
Alternative Uses
Best Use
Office B
$1.11M
$971.1K – $1.29M
NOI $77,686 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.83M
$1.60M – $2.13M
NOI $127,954 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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 - Office condo configured for law firms with private offices, conference space, reception, work stations, and a break room.
Where is this office units located?
The property is located at 1200 Brickell Avenue #520A-D Miami, FL.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: Office condo built in 1982, configured for law firms with 10 private offices plus reception area and work stations; Includes 1 conference room and a break room for tenant use; Located in Miami Financial District within a 20‑story office building
