Office Condo with Private
For Sale
$540,000
150 SE 2nd Avenue #1401, Miami, FL 33131
Class A office condo with two private offices, conference room, and work-station space in a downtown banking building.
Property Size1,188 SF
Days on Market50
Property Features for 150 SE 2nd Avenue #1401
General Information
Standard status
Active
Size
1,188 SF
Class
A
Zoning
6401
Building Details
Building Size
1,188 SF
Year Built
1967
Listing Agency:
AG Real Estate Advisors, LLC
(305) 794-2655
Listed By:
Rodrigo Gomez · License #0703084
(305) 794-2655
Source:
Laerrealty
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 25 at 4:48AM
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 AG Real Estate Advisors, LLC
Investment Insights
Based on property information with market context.
Located in The CHASE BANK BUILDING, this class A office condominium is designed for efficient day-to-day operations. The suite includes two generous private offices, a conference room, and ample room to accommodate working stations, creating a flexible layout for teams that need both collaboration and focused space.
The property benefits from an address within Downtown Miami, directly across the street from Whole foods Market. Access is described as exceptional, with two I-95 entrances within a couple blocks, along with strong walkability to the Brickell financial district, which is about one block away. Additional convenience is highlighted by proximity to hotels, restaurants, and dining options. The Metromover station is noted as steps away, providing quick, free access throughout downtown and beyond.
For tenants, the configuration supports a mix of private office work and meeting needs in a professional high-rise environment associated with a major banking tenant. For buyers, the asset is currently occupied with the current tenant scheduled to vacate in February 2027, allowing for planning around transition timing.
The property benefits from an address within Downtown Miami, directly across the street from Whole foods Market. Access is described as exceptional, with two I-95 entrances within a couple blocks, along with strong walkability to the Brickell financial district, which is about one block away. Additional convenience is highlighted by proximity to hotels, restaurants, and dining options. The Metromover station is noted as steps away, providing quick, free access throughout downtown and beyond.
For tenants, the configuration supports a mix of private office work and meeting needs in a professional high-rise environment associated with a major banking tenant. For buyers, the asset is currently occupied with the current tenant scheduled to vacate in February 2027, allowing for planning around transition timing.
Key Highlights
- 1967‑built class A office condominium in the Chase Bank Building
- Layout includes two private offices, a conference room, and work‑station space
- Downtown Miami office condo with city views
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
$34,081
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
6.31%
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%
$681,620
$681.6K
Cap Rate 7%
$486,871
$486.9K
Cap Rate 9%
$378,678
$378.7K
Market Conditions
NOI Build-Up for 1,188 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
$53.5K $45.00/SF
− Vacancy
−$8.0K −$6.75/SF
EGI
$45.4K $38.25/SF
− OpEx
−$11.4K −$9.56/SF
NOI
$34.1K $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%
$681,620
Cap Rate 7%
$486,871
Cap Rate 9%
$378,678
Alternative Uses
Best Use
Office B
$486.9K
$426.0K – $568.0K
NOI $34,081 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$801.9K
$701.7K – $935.6K
NOI $56,134 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 units - Class A office condo with two private offices, conference room, and work-station space in a downtown banking building.
Where is this office units located?
The property is located at 150 SE 2nd Avenue #1401 Miami, FL.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 1967‑built class A office condominium in the Chase Bank Building; Layout includes two private offices, a conference room, and work‑station space; Downtown Miami office condo with city views
