Modernized Office
New
For Sale
$420,000
14 NE 1st Avenue #500D, Miami, FL 33132
Efficient office condominium with elevated ceilings, flexible T6-80-O zoning, and shared executive amenities.
Property Size147,100 SF
Price / SF$395.48
Days on Market3
Property Features for 14 NE 1st Avenue #500D
General Information
Standard status
Active
Size
147,100 SF
Elevators
Yes
Zoning
6401
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:
Laerrealty
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 19 at 5:15AM
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 fifth-floor office condominium contains 1,062 SF with a 14-foot slab-to-slab height, providing an adaptable setting for office or creative workspace uses. The building combines a preserved historic exterior with updated interior improvements and includes 24/7 card-key entry, executive conferencing, a private skyline roof terrace, reception area, on-site management, and 3 modernized passenger elevators. An adjacent fifth-floor unit is also available for purchasers seeking additional space.
The property is positioned near Whole Foods, Bayfront Park, the Flagler Street retail corridor, Brightline MiamiCentral Station, and Miami’s major financial hubs. Access is supported by I-95, Biscayne Blvd, and the Metromover. T6-80-O urban core zoning permits office, professional service, and executive workspace uses.
The property is positioned near Whole Foods, Bayfront Park, the Flagler Street retail corridor, Brightline MiamiCentral Station, and Miami’s major financial hubs. Access is supported by I-95, Biscayne Blvd, and the Metromover. T6-80-O urban core zoning permits office, professional service, and executive workspace uses.
Key Highlights
- 1,062 SF fifth‑floor office condominium
- 14‑foot slab‑to‑slab height supports flexible workspace planning
- T6‑80‑O 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 office condominium with elevated ceilings, flexible T6-80-O zoning, and shared executive amenities.
Where is this office units located?
The property is located at 14 NE 1st Avenue #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 fifth‑floor office condominium; 14‑foot slab‑to‑slab height supports flexible workspace planning; T6‑80‑O zoning permits office, professional service, and executive workspace uses
