Freestanding Office
For Sale
$1,200,000
1437 SW 1st St, Miami, FL 33135
Dual street entry, ADA access, and on-site parking support professional office operations.
Property Size1,247 SF
Days on Market42
Property Features for 1437 SW 1st St
General Information
Standard status
Active
Size
1,247 SF
Property subtype
Commercial
Zoning
T5-O
Additional Details
Road Access
Yes
Amenities
ADA access
dual street entry
Building Details
Building Size
1,247 SF
Year Built
1936
Listing Agency:
Apex Capital Realty
(305) 570-2600
Listed By:
Miguel Pinto · License #3313310
(305) 570-2600
Source:
Elliman
Added: Jul 21
Changed: Aug 31
Last Checked: Aug 31 at 4:31PM
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 Apex Capital Realty
Investment Insights
Based on property information with market context.
Built in 1936, this freestanding office property at 1437 SW 1st St includes dual street access, ADA access, and 6+ parking spaces. The building has completed its 40-Year Recertification and is zoned T5-O.
The property is located less than one mile from major business districts and records more than 16,500 cars passing daily. Walk Score is 93, Bike Score is 62, and Transit Score is 54. T5-O zoning allows future development potential for up to 10 residential units, providing an additional use consideration alongside the existing office configuration.
The property is located less than one mile from major business districts and records more than 16,500 cars passing daily. Walk Score is 93, Bike Score is 62, and Transit Score is 54. T5-O zoning allows future development potential for up to 10 residential units, providing an additional use consideration alongside the existing office configuration.
Key Highlights
- Freestanding office building at 1437 SW 1st St, Miami, FL 33135
- Completed 40‑Year Recertification
- T5‑O zoning with potential for up to 10 residential units
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
$35,773
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
2.98%
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%
$715,460
$715.5K
Cap Rate 7%
$511,043
$511.0K
Cap Rate 9%
$397,478
$397.5K
Market Conditions
NOI Build-Up for 1,247 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
$56.1K $45.00/SF
− Vacancy
−$8.4K −$6.75/SF
EGI
$47.7K $38.25/SF
− OpEx
−$11.9K −$9.56/SF
NOI
$35.8K $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%
$715,460
Cap Rate 7%
$511,043
Cap Rate 9%
$397,478
Alternative Uses
Best Use
Office B
$511.0K
$447.2K – $596.2K
NOI $35,773 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$841.7K
$736.5K – $982.0K
NOI $58,921 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,802
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
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 building - Dual street entry, ADA access, and on-site parking support professional office operations.
Where is this office building located?
The property is located at 1437 SW 1st St Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Freestanding office building at 1437 SW 1st St, Miami, FL 33135; Completed 40‑Year Recertification; T5‑O zoning with potential for up to 10 residential units
