Corner Office
For Sale
$750,000
1110 Brickell Ave 609A & 609B, Miami, FL 33131
Bright three-room workspace with reception, file storage, and access to two parking spaces.
Property Size944 SF
Price / SF$794.49
Days on Market40
Property Features for 1110 Brickell Ave 609A & 609B
General Information
Standard status
Active
Size
944 SF
Total Parking Spaces
2
Property subtype
Commercial
Lease Term
1 to 3 years
Site & Location
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,787
Building Details
Building Size
944 SF
Year Built
1971
Tenancy
Single
Abandoned
No
Listing Agency:
Fortune Christie's Intl R.E.
Listed By:
Michael Ramirez Garcia · License #3601415
(305) 542-9470
Source:
Elliman
Added: Jul 30
Changed: Aug 31
Last Checked: Sep 7 at 9:48AM
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 Fortune Christie's Intl R.E.
Investment Insights
Based on property information with market context.
These office units comprise 944 usable square feet in a corner configuration with large windows across three separate rooms, providing abundant natural light. The layout includes a reception area and dedicated space for files and supplies. The property was built in 1971 and is currently tenant occupied through April 30, 2028.
Located at 1110 Brickell Ave in Miami, the office provides access to major roads, Metro Rail, and Metromover. Nearby context includes residential condominiums, hotels, dining, shopping, and business hubs. Walk Score is 96, Transit Score is 99, and Bike Score is 77. Access to two parking spaces is available, with additional parking spaces offered.
Located at 1110 Brickell Ave in Miami, the office provides access to major roads, Metro Rail, and Metromover. Nearby context includes residential condominiums, hotels, dining, shopping, and business hubs. Walk Score is 96, Transit Score is 99, and Bike Score is 77. Access to two parking spaces is available, with additional parking spaces offered.
Key Highlights
- 944 usable square feet of office space
- Corner configuration with large windows in three separate rooms
- Reception area with space for files and supplies
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
$27,081
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
3.61%
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%
$541,620
$541.6K
Cap Rate 7%
$386,871
$386.9K
Cap Rate 9%
$300,900
$300.9K
Market Conditions
NOI Build-Up for 944 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
$42.5K $45.00/SF
− Vacancy
−$6.4K −$6.75/SF
EGI
$36.1K $38.25/SF
− OpEx
−$9.0K −$9.56/SF
NOI
$27.1K $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%
$541,620
Cap Rate 7%
$386,871
Cap Rate 9%
$300,900
Alternative Uses
Best Use
Office B
$386.9K
$338.5K – $451.4K
NOI $27,081 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$637.2K
$557.6K – $743.4K
NOI $44,604 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
12,688
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 - Bright three-room workspace with reception, file storage, and access to two parking spaces.
Where is this office units located?
The property is located at 1110 Brickell Ave 609A & 609B Miami, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 944 usable square feet of office space; Corner configuration with large windows in three separate rooms; Reception area with space for files and supplies
