Built-Out Office Unit with Private
For Sale
$3,599,000
1200 Brickell Avenue #950A, Miami, FL 33131
Half-floor office suite with contemporary finishes, meeting rooms, kitchenette, reception, phone booths, and an open workstation area.
Property Size5,873 SF
Days on Market40
Property Features for 1200 Brickell Avenue #950A
General Information
Standard status
Active
Size
5,873 SF
Total Parking Spaces
9
Zoning
6407
Taxes and HOA fees
Annual Taxes
$3,594
Building Details
Building Size
5,873 SF
Year Built
1982
Buildings
1
Stories
20
Listing Agency:
Globalty Investment LLC
(561) 945-4345
Listed By:
Thomas Pichet · License #A11854877
(561) 945-4345
Source:
Laerrealty
Added: Jul 22
Changed: Aug 29
Last Checked: Jul 4 at 5:11PM
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 5,873 SF half-floor office suite is configured for a range of professional operations, with 18 private offices, 3 conference rooms, a reception area, 2 phone booths, and an open bullpen arranged for 10 cubicles. A break area with kitchenette supports daily staff use, while the contemporary interior provides a finished office environment within 1200 Brickell, a 20-story Class A building completed in 1982.
The property is positioned at the intersection of Brickell Avenue and SW 13th, placing the suite within Miami’s Brickell financial district. Building amenities include a modern lobby, circular drive, security, and the on-site Dirty French restaurant. Public transportation, luxury shopping, and additional restaurants are located nearby within the surrounding Brickell area.
The property is positioned at the intersection of Brickell Avenue and SW 13th, placing the suite within Miami’s Brickell financial district. Building amenities include a modern lobby, circular drive, security, and the on-site Dirty French restaurant. Public transportation, luxury shopping, and additional restaurants are located nearby within the surrounding Brickell area.
Key Highlights
- 5,873 SF half‑floor office suite
- 18 private offices and 3 conference rooms
- Open bullpen configured for 10 cubicles
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 contemporary finishes, meeting rooms, kitchenette, reception, phone booths, and an open workstation area.
Where is this office units located?
The property is located at 1200 Brickell Avenue #950A 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: 5,873 SF half‑floor office suite; 18 private offices and 3 conference rooms; Open bullpen configured for 10 cubicles
