Office Complex with Flexible
New
For Sale
$6,250,000
1401 SW 1st St, Miami, FL 33135
Adaptable floor plans support professional, medical, legal, creative, and corporate office users.
Property Size25,202 SF
Lot Size0.68 Acres
Price / SF$247
Days on Market1
Property Features for 1401 SW 1st St
General Information
Standard status
Active
Size
25,202 SF
Lot size
0.68 Acres
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
Strategic location positioned just west of the Brickell Financial District and Downtown Miami.
Exceptional proximity to major medical districts, located just 1.5 miles from Jackson Memorial Hospital and UHealth.
Exceptional submarket fundamentals highlighted by a localized vacancy rate of just 3.5%.
Outstanding transit and walkability featuring a Walk Score of 90, providing a "Walker's Paradise" environment.
Highly attractive covered land play opportunity secured by T5 O (Urban Center) zoning, allowing for flexible commercial uses.
Significant Value-Add Potential: Opportunity to increase net operating income by improving occupancy and rental rates
Building Details
Building Size
25,202 SF
Year Built
1957
Tenancy
Multi
Listing Agency:
Marcus & Millichap - The Zylberglait Group
Listed By:
Alex Zylberglait · License #License(s): FL: BK3015211
(786) 522-7056
Source:
Marcusmillichap
Added: Sep 16
Last Checked: Sep 16 at 11:58AM
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 Marcus & Millichap - The Zylberglait Group
Investment Insights
Based on property information with market context.
This office and residential complex contains 25,202 square feet on approximately 0.68 acres. The office component includes suites ranging from approximately 150 to 3,500 square feet, providing varied configurations for professional, medical, legal, creative, and corporate tenants. Dedicated onsite parking is also included, and the property was constructed in 1957.
Located at 1401 SW 1st St in Miami’s East Little Havana, the property offers access to Interstate 95, Downtown Miami, Brickell, and the broader Miami metropolitan area. Jackson Memorial Hospital, Brickell City Centre, Calle Ocho, and surrounding dining, retail, and commercial amenities are minutes away. The property also supports potential medical office use.
Located at 1401 SW 1st St in Miami’s East Little Havana, the property offers access to Interstate 95, Downtown Miami, Brickell, and the broader Miami metropolitan area. Jackson Memorial Hospital, Brickell City Centre, Calle Ocho, and surrounding dining, retail, and commercial amenities are minutes away. The property also supports potential medical office use.
Key Highlights
- 25,202 square feet of office and residential space
- Approximately 0.68 acres
- Office suites range from approximately 150 to 3,500 square feet
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
$417,345
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
6.68%
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%
$8,346,900
$8.3M
Cap Rate 7%
$5,962,071
$6.0M
Cap Rate 9%
$4,637,167
$4.6M
Market Conditions
NOI Build-Up for 25,202 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
$756.1K $30.00/SF
− Vacancy
−$60.5K −$2.40/SF
EGI
$695.6K $27.60/SF
− OpEx
−$278.2K −$11.04/SF
NOI
$417.3K $16.56/SF
Area
Miami, FL
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$8,346,900
Cap Rate 7%
$5,962,071
Cap Rate 9%
$4,637,167
Alternative Uses
Best Use
Office B
$10.33M
$9.04M – $12.05M
NOI $722,982 @ 7.0% cap · market cap 11.57%
Second Best
Mixed Use
$8.51M
$7.44M – $9.92M
NOI $595,397 @ 7.0% cap · market cap 9.53%
Theoretical Best
Specialty Retail
$17.01M
$14.89M – $19.85M
NOI $1,190,806 @ 7.0% cap · market cap 19.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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 building - Adaptable floor plans support professional, medical, legal, creative, and corporate office users.
Where is this office building located?
The property is located at 1401 SW 1st St Miami, FL.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: 25,202 square feet of office and residential space; Approximately 0.68 acres; Office suites range from approximately 150 to 3,500 square feet
