Renovated Office
For Sale
$795,000
14 NE 1st Ave Unit 800 E/F/G/H, Miami, FL 33132
Updated suite with private offices, open workspace, and a kitchenette.
Property Size2,122 SF
Price / SF$374.65
Days on Market107
Property Features for 14 NE 1st Ave Unit 800 E/F/G/H
General Information
Standard status
Active
Size
2,122 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$5,433
Building Details
Building Size
2,122 SF
Year Built
1952
Listing Agency:
Gambino Real Estate Corp.
Listed By:
Gustavo Gambino · License #3096862
(786) 281-5050
Source:
Allyandaj
Added: Jun 4
Changed: Sep 8
Last Checked: Sep 16 at 11:38PM
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 Gambino Real Estate Corp.
Investment Insights
Based on property information with market context.
This 2,122-square-foot office unit at One Flagler Building was built in 1952 and has undergone a complete renovation. The layout includes eight individual offices, an open work area, and a separate break area with a kitchenette, providing a mix of enclosed and collaborative workspace within the suite.
The property is located at 14 NE 1st Ave in Miami, in the corridor between Miami World Center and Brickell City Center. Unit 800 E/F/G/H offers a defined office configuration with existing improvements that support a range of professional workplace arrangements.
The property is located at 14 NE 1st Ave in Miami, in the corridor between Miami World Center and Brickell City Center. Unit 800 E/F/G/H offers a defined office configuration with existing improvements that support a range of professional workplace arrangements.
Key Highlights
- 2,122‑square‑foot office unit at One Flagler Building
- Complete renovation with eight private offices
- Open work area supports collaborative workspace
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
$60,875
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
7.66%
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%
$1,217,500
$1.2M
Cap Rate 7%
$869,643
$869.6K
Cap Rate 9%
$676,389
$676.4K
Market Conditions
NOI Build-Up for 2,122 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
$95.5K $45.00/SF
− Vacancy
−$14.3K −$6.75/SF
EGI
$81.2K $38.25/SF
− OpEx
−$20.3K −$9.56/SF
NOI
$60.9K $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%
$1,217,500
Cap Rate 7%
$869,643
Cap Rate 9%
$676,389
Alternative Uses
Best Use
Office B
$869.6K
$760.9K – $1.01M
NOI $60,875 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,265 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Office units - Updated suite with private offices, open workspace, and a kitchenette.
Where is this office units located?
The property is located at 14 NE 1st Ave Unit 800 E/F/G/H Miami, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 2,122‑square‑foot office unit at One Flagler Building; Complete renovation with eight private offices; Open work area supports collaborative workspace
