Brickell Office Space
For Sale
$3,599,000
1200 Brickell Avenue Unit 950-A, Miami, FL 33131
Built-out office space in Brickell's financial district.
Property Size5,873 SF
Price / SF$612.80
Days on Market205
Property Features for 1200 Brickell Avenue Unit 950-A
General Information
Standard status
Active
Size
5,873 SF
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
1982
Listing Agency:
Globalty Investment LLC
Listed By:
Thomas Pichet · License #A11729801
(561) 945-4345
Source:
Onesothebysrealty
Added: Mar 11
Changed: Sep 18
Last Checked: Oct 1 at 11:46AM
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 half-floor office space is located in the heart of Brickell. The property features a bright, contemporary style and includes 18 private offices, 3 conference rooms, a break area with a kitchenette, a reception area with 2 phone booths, and an open center space currently configured with 10 cubicles. The office is situated within 1200 Brickell, a Class A office building that rises 20 stories. The building is located at the intersection of Brickell Avenue and SW 13th (Coral Way), in a rapidly growing financial district. The building offers a modern lobby and circular drive with security. On-site amenities include the Dirty French restaurant. Public transportation, luxury shopping, and restaurants are located nearby. The property is also available for sale.
Key Highlights
- Prime Brickell location at the intersection of Brickell Avenue and SW 13th (Coral Way) in the financial district.
- Fully built‑out office space with 18 private offices, 3 conference rooms, break area, and reception area.
- Class A office building with modern lobby, circular drive, and security.
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Office units - Built-out office space in Brickell's financial district.
Where is this office units located?
The property is located at 1200 Brickell Avenue Unit 950-A 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: Prime Brickell location at the intersection of Brickell Avenue and SW 13th (Coral Way) in the financial district.; Fully built‑out office space with **18 private offices, 3 conference rooms, break area, and reception area.**; Class A office building with **modern lobby, circular drive, and security.**
