Renovated Freestanding Office
129 Sevilla Ave Coral Gables, FL 33134
For Sale
$6,350,000
Pending
Two-story renovated freestanding office with elevator, private offices, conference rooms, and gated parking for up to 15 cars.
Property Size7,957 SF
Days on Market1982
Property Features for 129 Sevilla Ave
General Information
Standard status
Pending
Size
7,957 SF
Property subtype
General Commercial
Building Details
Year Built
1926
Listing Agency:
Z Luxury Group
(786) 261-4921
Listed By:
Zandra Mederos
(786) 261-4921
Source:
Xome
Added: Feb 24, 2021
Changed: Jul 26
Last Checked: Jul 26 at 2:47AM
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 Z Luxury Group
Investment Insights
Based on property information with market context.
This renovated, two-story freestanding office building totals just under 8,000 square feet and is configured with an elevator, 12 private offices, and three conference rooms. The layout also includes two bonus bullpen/cubical areas, a large break room, an open-air second-level veranda, and a second-floor open balcony overlooking the lobby. Interior finishes include a combination of marble and wood floors, with designed high ceilings throughout. Additional features include a locker room with showers and a private, secure back entrance.
The sale includes two additional parcels used as a gated parking lot, providing onsite private parking for up to 15 cars. The property is located at 129 Sevilla Ave and sits across from the new Coral Gables Plaza development. The owner currently uses the property, and there is no lease in place.
The sale includes two additional parcels used as a gated parking lot, providing onsite private parking for up to 15 cars. The property is located at 129 Sevilla Ave and sits across from the new Coral Gables Plaza development. The owner currently uses the property, and there is no lease in place.
Key Highlights
- Renovated two‑story freestanding office building built in 1926
- Includes nearly 8,000 sq. ft. of renovated space with an elevator and designed high ceilings
- Office layout features private offices, 3 conference rooms, a large break room, and a 2nd‑floor open balcony overlooking the lobby
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $362.8k | $45.60 |
| − Vacancy | −$81.6k | −$10.26 |
| EGI | $281.2k | $35.34 |
| − OpEx | −$70.3k | −$8.84 |
| NOI | $210.9k | $26.51 |
7,957 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.01M
$2.64M – $3.52M
NOI $210,900 @ 7.0% cap · market cap 3.32%
Second Best
Healthcare Medical
$1.50M
$1.31M – $1.75M
NOI $104,841 @ 7.0% cap · market cap 1.65%
Theoretical Best
Office A
$4.04M
$3.53M – $4.71M
NOI $282,585 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Two-story renovated freestanding office with elevator, private offices, conference rooms, and gated parking for up to 15 cars.
Where is this office building located?
The property is located at 129 Sevilla Ave Coral Gables, FL.
What is the asking price?
The asking price for this property is $6,350,000.
What are key features of this property?
This property features: Renovated two‑story freestanding office building built in 1926; Includes nearly 8,000 sq. ft. of renovated space with an elevator and designed high ceilings; Office layout features private offices, 3 conference rooms, a large break room, and a 2nd‑floor open balcony overlooking the lobby
