For Sale
$385,000
150 SE 2Nd Ave, Miami, FL 33131
Office condo in the Chase Bank Building with open workspace and a private office for professional use in Downtown Miami.
Property Size1,000 SF
Lot Size0.57 Acres
Price / SF$385
Days on Market93
Property Features for 150 SE 2Nd Ave
General Information
Standard status
Active
Property type
Office Units, Office Spaces
Size
1,000 SF
Net Rentable
844 SF
Class
B
Lot size
0.57 Acres
Building Details
Year Built
1967
Units
2
Listed By:
Heriberto Rios
(954) 646-3222
Added: Jul 24
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,688
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,760
$573.8K
Cap Rate 7%
$409,829
$409.8K
Cap Rate 9%
$318,756
$318.8K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$45.0K $45.00/SF
− Vacancy
−$6.8K −$6.75/SF
EGI
$38.3K $38.25/SF
− OpEx
−$9.6K −$9.56/SF
NOI
$28.7K $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 Rate 5%
$573,760
Cap Rate 7%
$409,829
Cap Rate 9%
$318,756
Alternative Uses
Best Use
Office B
$409.8K
$358.6K – $478.1K
NOI $28,688 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$675.0K
$590.6K – $787.5K
NOI $47,250 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
15,904
Businesses Nearby
Explore this area
Business Placement
Demographics for 33131, FL
26,213
Population
18,872
Households
1.4
Avg Household Size
37
Median Age
77%
College-Educated
98%
High-School Grad
0.5 sq mi
ZIP Area
52,426
Density / Sq Mi
$143,114
Median Household Income
$86,331
Median Earnings
$2,847
Median Rent
$621,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Miami, FL
Frequently Asked Questions
What type of property is this?
Office unit - Office condo in the Chase Bank Building with open workspace and a private office for professional use in Downtown Miami.
Where is this office unit located?
The property is located at 150 SE 2Nd Ave Miami, FL.
What is the asking price?
The asking price for this property is $385,000.
