Miami Beach Office with Bay
For Sale
$374,000
1200 West Ave CU-7, Miami Beach, FL 33139
Modern office condo in prime Miami Beach location.
Property Size557 SF
Days on Market137
Property Features for 1200 West Ave CU-7
General Information
Standard status
Active
Size
557 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$726
Building Details
Building Size
557 SF
Year Built
1965
Stories
1
Listing Agency:
AV Capital Advisors, LLC
Listed By:
Vanessa Gala · License #3257319
(786) 326-8655
Source:
Elliman
Added: Apr 24
Changed: Aug 16
Last Checked: Sep 6 at 1:00PM
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 AV Capital Advisors, LLC
Investment Insights
Based on property information with market context.
This office space features polished concrete floors, exposed A/C ducts, and a modern loft-style design. Large windows provide natural light and direct views of Biscayne Bay. The private office condo is located at Mirador North in Miami Beach’s West Avenue corridor. Association dues include A/C and internet, and the special assessment has been paid in full by the seller. Mirador North offers amenities including a bay front pool, jacuzzi, fully equipped gym, convenience store, and concierge. The location is within walking distance to Trader Joe’s, Whole Foods, Oliver’s Bistro, Joe & The Juice, Lincoln Road, and Sunset Harbour. Flamingo Park, with an outdoor track, basketball courts, and green space, is a short walk away. Ocean Drive and the beach are accessible by bike, and Downtown Miami, Brickell, and Miami International Airport are easily accessible via the MacArthur, Julia Tuttle, or Venetian Causeways. The location has a walk score of 92, a transit score of 59, and a bike score of 71.
Key Highlights
- Direct Biscayne Bay views and abundant natural light create an inspiring and calming workspace.
- Prime location in Miami Beach's West Avenue corridor, walking distance to numerous shops, restaurants, grocery stores, and Flamingo Park.
- Full‑service building amenities including a bayfront pool, jacuzzi, fully equipped gym, convenience store, and concierge.
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
$14,763
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
3.95%
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%
$295,260
$295.3K
Cap Rate 7%
$210,900
$210.9K
Cap Rate 9%
$164,033
$164.0K
Market Conditions
NOI Build-Up for 557 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
$25.4K $45.60/SF
− Vacancy
−$5.7K −$10.26/SF
EGI
$19.7K $35.34/SF
− OpEx
−$4.9K −$8.84/SF
NOI
$14.8K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$295,260
Cap Rate 7%
$210,900
Cap Rate 9%
$164,033
Alternative Uses
Best Use
Office B
$210.9K
$184.5K – $246.1K
NOI $14,763 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.6K
$247.3K – $329.7K
NOI $19,781 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,734
Businesses Nearby
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Modern office condo in prime Miami Beach location.
Where is this office units located?
The property is located at 1200 West Ave CU-7 Miami Beach, FL.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: Direct Biscayne Bay views and abundant natural light create an inspiring and calming workspace.; Prime location in Miami Beach's West Avenue corridor, walking distance to numerous shops, restaurants, grocery stores, and Flamingo Park.; Full‑service building amenities including a bayfront pool, jacuzzi, fully equipped gym, convenience store, and concierge.
