Renovated Office
For Sale
$1,790,000
14 NE 1st Ave # 600A, Miami, FL 33132
Renovated office space with LEED certification, historic designation, security, shared conference rooms, and on-site business amenities.
Property Size4,809 SF
Price / SF$372.22
Days on Market274
Property Features for 14 NE 1st Ave # 600A
General Information
Standard status
Active
Size
4,809 SF
Property subtype
Office
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,465
Amenities
state of the art connectivity
24 hrs. Security
valet parking
conference rooms
lounge
juice bar
Building Details
Building Size
4,809 SF
Year Built
1952
Listing Agency:
Fortune Christie's International Real Estate
(954) 258-9493
Listed By:
Eduardo Citcioglu · License #3148740
Source:
Casacollectiongroup
Added: Nov 5, 2025
Changed: Aug 5
Last Checked: Aug 5 at 7:58AM
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 Fortune Christie's International Real Estate
Investment Insights
Based on property information with market context.
This 4,809-square-foot office unit occupies a building constructed in 1952 and subsequently renovated. The property was designed by Miami architect Morris Lapidus, received Silver LEED Certification, and is listed on the National Register of Historic Buildings. Building amenities include state-of-the-art connectivity, 24-hour security, valet parking, conference rooms, a lounge, and a juice bar.
The office is positioned one block from the courthouse and within walking distance of Bayside, Whole Foods, and two Metro Mover stations. The Brickell Financial District is five blocks away, while Miami International Airport is described as a short drive from the property.
The office is positioned one block from the courthouse and within walking distance of Bayside, Whole Foods, and two Metro Mover stations. The Brickell Financial District is five blocks away, while Miami International Airport is described as a short drive from the property.
Key Highlights
- 4,809‑square‑foot office unit in a 1952 building
- Fully renovated property designed by Miami architect Morris Lapidus
- Silver LEED Certification and National Register of Historic Buildings designation
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
$137,958
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
7.71%
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%
$2,759,160
$2.8M
Cap Rate 7%
$1,970,829
$2.0M
Cap Rate 9%
$1,532,867
$1.5M
Market Conditions
NOI Build-Up for 4,809 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
$216.4K $45.00/SF
− Vacancy
−$32.5K −$6.75/SF
EGI
$183.9K $38.25/SF
− OpEx
−$46.0K −$9.56/SF
NOI
$138.0K $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%
$2,759,160
Cap Rate 7%
$1,970,829
Cap Rate 9%
$1,532,867
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,958 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.25M
$2.84M – $3.79M
NOI $227,227 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property 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
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Renovated office space with LEED certification, historic designation, security, shared conference rooms, and on-site business amenities.
Where is this office units located?
The property is located at 14 NE 1st Ave # 600A Miami, FL.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 4,809‑square‑foot office unit in a 1952 building; Fully renovated property designed by Miami architect Morris Lapidus; Silver LEED Certification and National Register of Historic Buildings designation
