Furnished Office Unit on Ninth
For Sale
$1,550,000
14 NE 1st Ave Unit 905, Miami, FL 33132
Remodeled, furnished workspace with skyline views and building security.
Property Size3,538 SF
Price / SF$438.10
Days on Market1302
Property Features for 14 NE 1st Ave Unit 905
General Information
Standard status
Active
Size
3,538 SF
Property subtype
General Commercial
Space & Availability
Floor
9
Furnished
Yes
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$21,340
Amenities
sleek lobby
24/7 security
3
Valet Parking.
.081
City Road.
Building Details
Year Built
1952
Listing Agency:
Beckett Realty Advisors, LLC
(954) 937-4887
Listed By:
Steven Rodriguez · License #3309027
(954) 937-4887
Source:
Xome
Added: Feb 6, 2023
Changed: Aug 30
Last Checked: Aug 31 at 2:21PM
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 Beckett Realty Advisors, LLC
Investment Insights
Based on property information with market context.
This remodeled office unit at One Flagler offers 3538 SF on the 9th floor, with furnishings in place for immediate office use. The layout currently includes 25 desks, along with additional room within the suite. The property was designed by Miami architect Morris Lapidus and provides panoramic skyline views.
Building services include 24/7 security and valet parking, with street parking also available. The office is accessible to I-95 and public transportation, including buses and metro service. One Flagler was built in 1952.
Building services include 24/7 security and valet parking, with street parking also available. The office is accessible to I-95 and public transportation, including buses and metro service. One Flagler was built in 1952.
Key Highlights
- 3538 SF office unit on the 9th floor
- Remodeled and furnished office with 25 desks
- Panoramic skyline views from One Flagler
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
$101,496
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
6.55%
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%
$2,029,920
$2.0M
Cap Rate 7%
$1,449,943
$1.4M
Cap Rate 9%
$1,127,733
$1.1M
Market Conditions
NOI Build-Up for 3,538 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
$159.2K $45.00/SF
− Vacancy
−$23.9K −$6.75/SF
EGI
$135.3K $38.25/SF
− OpEx
−$33.8K −$9.56/SF
NOI
$101.5K $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%
$2,029,920
Cap Rate 7%
$1,449,943
Cap Rate 9%
$1,127,733
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,496 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.39M
$2.09M – $2.79M
NOI $167,172 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
13,542
Businesses Nearby
Explore this area
Business Placement
Demographics for 33132, FL
18,159
Population
12,725
Households
1.4
Avg Household Size
35
Median Age
61%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
12,106
Density / Sq Mi
$109,505
Median Household Income
$71,509
Median Earnings
$2,534
Median Rent
$545,100
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 - Remodeled, furnished workspace with skyline views and building security.
Where is this office units located?
The property is located at 14 NE 1st Ave Unit 905 Miami, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 3538 SF office unit on the 9th floor; Remodeled and furnished office with 25 desks; Panoramic skyline views from One Flagler
