Office Unit With Roof
New
For Sale
$420,000
14 NE 1st Ave 500D, Miami, FL 33132
Efficient fifth-floor workspace with flexible T6-80-O zoning and shared executive amenities.
Property Size147,100 SF
Price / SF$395.48
Days on Market4
Property Features for 14 NE 1st Ave 500D
General Information
Standard status
Active
Size
147,100 SF
Elevators
Yes
Property subtype
Commercial
Zoning
T6-80-O
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Floor
5
Taxes and HOA fees
Annual Taxes
$5,518
Amenities
24/7 card-key access
executive conferencing facility
private skyline roof terrace
grand reception
on-site management
Building Details
Building Size
147,100 SF
Year Built
1952
Buildings
1
Listing Agency:
Cohen & Roth, LLC
(305) 401-3900
Listed By:
Reinaldo Delgado · License #3243327
(305) 401-3900
Source:
Elliman
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 19 at 12:26PM
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 Cohen & Roth, LLC
Investment Insights
Based on property information with market context.
This office unit provides 1,062 SF on the fifth floor of One Flagler, with a 14-foot slab-to-slab height that supports contemporary office or creative workspace layouts. The building combines a preserved historic facade with a modernized interior and offers 24/7 card-key entry, executive conferencing, on-site management, three passenger elevators, and a private skyline roof terrace.
The property is at 14 NE 1st Ave in Downtown Miami, near Whole Foods, Bayfront Park, the Flagler Street retail corridor, Brightline MiamiCentral Station, and major financial hubs. Access to I-95, Biscayne Blvd, and Metromover supports connectivity throughout the area. T6-80-O urban core zoning permits office, professional service, and executive workspace uses. Neighboring Unit 501 is also available for purchase.
The property is at 14 NE 1st Ave in Downtown Miami, near Whole Foods, Bayfront Park, the Flagler Street retail corridor, Brightline MiamiCentral Station, and major financial hubs. Access to I-95, Biscayne Blvd, and Metromover supports connectivity throughout the area. T6-80-O urban core zoning permits office, professional service, and executive workspace uses. Neighboring Unit 501 is also available for purchase.
Key Highlights
- 1,062 SF office unit on the 5th floor
- 14‑foot slab‑to‑slab height supports flexible workspace layouts
- T6‑80‑O urban core zoning permits office, professional service, and executive workspace uses
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
$30,466
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
7.25%
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%
$609,320
$609.3K
Cap Rate 7%
$435,229
$435.2K
Cap Rate 9%
$338,511
$338.5K
Market Conditions
NOI Build-Up for 1,062 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
$47.8K $45.00/SF
− Vacancy
−$7.2K −$6.75/SF
EGI
$40.6K $38.25/SF
− OpEx
−$10.2K −$9.56/SF
NOI
$30.5K $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%
$609,320
Cap Rate 7%
$435,229
Cap Rate 9%
$338,511
Alternative Uses
Best Use
Office B
$435.2K
$380.8K – $507.8K
NOI $30,466 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$716.9K
$627.3K – $836.3K
NOI $50,180 @ 7.0% cap · market cap 11.95%
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 - Efficient fifth-floor workspace with flexible T6-80-O zoning and shared executive amenities.
Where is this office units located?
The property is located at 14 NE 1st Ave 500D Miami, FL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 1,062 SF office unit on the 5th floor; 14‑foot slab‑to‑slab height supports flexible workspace layouts; T6‑80‑O urban core zoning permits office, professional service, and executive workspace uses
