Brickell Move-in Ready Office
For Sale
$949,000
1200 Brickell Ave 505-B, Miami, FL 33131
Functional 2,146 SF office in the heart of Brickell.
Property Size2,146 SF
Price / SF$442.22
Days on Market141
Property Features for 1200 Brickell Ave 505-B
General Information
Standard status
Active
Size
2,146 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,886
Building Details
Year Built
1982
Stories
20
Listing Agency:
BHHS EWM Realty
Listed By:
Barbara Gretsch · License #3643446
(773) 208-2992
Source:
Elliman
Added: Apr 24
Changed: Sep 4
Last Checked: Sep 10 at 10:56AM
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 is located in the heart of Brickell. The 2,146 square foot office features a functional layout that includes four private offices, a reception area, a conference room, a printer/copy room, and a kitchenette. The space is efficiently designed and suitable for either an owner-user or an investor seeking immediate usability. Situated within 1200 Brickell Avenue, the suite benefits from a professional environment and convenient access to the surrounding Brickell district. The office overlooks the planned landscaped garden pavilion and the Ora by Casa Tua development, offering a more open outlook and potential long-term enhancement to the immediate environment. This is a rare opportunity to acquire a well-located and updated office suite that provides a strong presence, accessibility, and long-term appeal in the core of Brickell. The location has a bike score of 79, indicating it is very bikeable, a walk score of 51, indicating it is somewhat walkable, and a transit score of 64, indicating good transit options.
Key Highlights
- Move‑in ready, updated 2,146 sq ft office suite.
- Prime Brickell location at 1200 Brickell Avenue.
- Functional layout featuring 4 private offices, reception, conference room, 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
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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 - Functional 2,146 SF office in the heart of Brickell.
Where is this office units located?
The property is located at 1200 Brickell Ave 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: Move‑in ready, updated 2,146 sq ft office suite.; Prime Brickell location at 1200 Brickell Avenue.; Functional layout featuring 4 private offices, reception, conference room, printer/copy room, and kitchenette.
