Remodeled Office
For Sale
$405,000
13200 128th St, Miami, FL 33186
Updated office space offers a practical setting for an owner-user or office operation.
Property Size950 SF
Price / SF$426.32
Days on Market49
Property Features for 13200 128th St
General Information
Standard status
Active
Size
950 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$3,601
Amenities
3
Building Details
Year Built
1989
Listing Agency:
CitiView Realty Corp
(305) 333-0741
Listed By:
Lidia Socarras · License #3510751
Source:
Xome
Added: Jul 16
Changed: Aug 31
Last Checked: Sep 1 at 5:37PM
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 CitiView Realty Corp
Investment Insights
Based on property information with market context.
This office unit has been remodeled and is offered for sale. The property was originally built in 1989 and provides a dedicated commercial setting for office use.
The property is located at 13200 128th St in Miami, Florida 33186.
The property is located at 13200 128th St in Miami, Florida 33186.
Key Highlights
- Remodeled office unit offered for sale
- Built in 1989
- Located at 13200 128th St, Miami, FL 33186
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
$30,305
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
7.48%
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%
$606,100
$606.1K
Cap Rate 7%
$432,929
$432.9K
Cap Rate 9%
$336,722
$336.7K
Market Conditions
NOI Build-Up for 950 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
$47.5K $50.04/SF
− Vacancy
−$7.1K −$7.51/SF
EGI
$40.4K $42.53/SF
− OpEx
−$10.1K −$10.63/SF
NOI
$30.3K $31.90/SF
Area
ZIP 33186
Vacancy
15.00%
Lease Rate
$50.04 /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%
$606,100
Cap Rate 7%
$432,929
Cap Rate 9%
$336,722
Alternative Uses
Best Use
Office B
$432.9K
$378.8K – $505.1K
NOI $30,305 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$518.8K
$453.9K – $605.2K
NOI $36,314 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,245
Businesses Nearby
Explore this area
Business Placement
Demographics for 33186, FL
69,866
Population
24,397
Households
2.9
Avg Household Size
42
Median Age
36%
College-Educated
91%
High-School Grad
12.4 sq mi
ZIP Area
5,634
Density / Sq Mi
$86,481
Median Household Income
$46,755
Median Earnings
$2,021
Median Rent
$422,300
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Updated office space offers a practical setting for an owner-user or office operation.
Where is this office units located?
The property is located at 13200 128th St Miami, FL.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Remodeled office unit offered for sale; Built in 1989; Located at 13200 128th St, Miami, FL 33186
