Renovated Office Suite with 8
For Sale
$795,000
14 NE 1st Avenue 800 E/F/G/H, Miami, FL 33132
Totally renovated office suite features eight offices plus an open work area and kitchenette break area.
Property Size2,122 SF
Days on Market94
Property Features for 14 NE 1st Avenue 800 E/F/G/H
General Information
Standard status
Active
Size
2,122 SF
Property subtype
Office
Additional Details
Office Units
8
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:
Silverleafrealtygroup
Added: Jun 4
Changed: Sep 2
Last Checked: Sep 5 at 6:47AM
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 totally renovated office suite offers a practical mix of private workspaces and collaboration space. The layout includes eight offices, one open work area, and a break area with a kitchenette. The property is presented as a bright, spacious office within the One Flagler Building, with additional details, including a floor plan and pictures, available in the attached offering materials.
The suite is located in Downtown Miami in the corridor between Miami World Center and Brickell City Center. Walkability and transit access are highlighted with a Walk Score of 96 and a Transit Score of 99, along with a Bike Score of 77.
The configuration supports both team-based work in the open area and distributed operations across the individual offices, with a dedicated break space for day-to-day comfort.
The suite is located in Downtown Miami in the corridor between Miami World Center and Brickell City Center. Walkability and transit access are highlighted with a Walk Score of 96 and a Transit Score of 99, along with a Bike Score of 77.
The configuration supports both team-based work in the open area and distributed operations across the individual offices, with a dedicated break space for day-to-day comfort.
Key Highlights
- Totally renovated office suite in One Flagler Building (built 1952).
- Office layout includes 8 offices plus 1 open work area.
- Includes a break area with kitchenette.
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
Current Use
Lease Details
8
Office units
Location Intelligence
Trade Area within ½ mile
16,324
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 - Totally renovated office suite features eight offices plus an open work area and kitchenette break area.
Where is this office units located?
The property is located at 14 NE 1st Avenue 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: Totally renovated office suite in One Flagler Building (built 1952).; Office layout includes 8 offices plus 1 open work area.; Includes a break area with kitchenette.
