Office Unit with Conference
For Sale
$736,000
1607 Ponce De Leon Blvd 202, Coral Gables, FL 33134
Professional workspace with private meeting space, kitchen amenities, covered parking, and building security.
Property Size1,369 SF
Price / SF$537.62
Days on Market42
Property Features for 1607 Ponce De Leon Blvd 202
General Information
Standard status
Active
Size
1,369 SF
Building Details
Year Built
2008
Listing Agency:
RE/MAX United Realty
(305) 606-1069
Listed By:
Matilde Aguirre · License #0364522
Source:
Chenoregroup
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 30 at 8:03PM
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 RE/MAX United Realty
Investment Insights
Based on property information with market context.
This 1,369-square-foot office unit occupies the second floor of The Ponce de Leon Condominium, a mixed-use building completed in 2008. The layout includes a spacious primary office, a separate conference room, and a break area equipped with a refrigerator and kitchen cabinetry. North- and west-facing wall-to-wall windows provide substantial natural light.
The property includes two covered, gated parking spaces and access to a 24-hour security system. Building services include concierge support, with only nine commercial offices located on the second floor. The suite is at 1607 Ponce De Leon Blvd 202 in Coral Gables, Florida, approximately 3.3 miles, or 10 minutes, from Miami International Airport.
The property includes two covered, gated parking spaces and access to a 24-hour security system. Building services include concierge support, with only nine commercial offices located on the second floor. The suite is at 1607 Ponce De Leon Blvd 202 in Coral Gables, Florida, approximately 3.3 miles, or 10 minutes, from Miami International Airport.
Key Highlights
- 1,369‑square‑foot office unit on the second floor
- Two covered, gated parking spaces included
- North- and west‑facing wall‑to‑wall windows
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
$36,285
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
4.93%
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%
$725,700
$725.7K
Cap Rate 7%
$518,357
$518.4K
Cap Rate 9%
$403,167
$403.2K
Market Conditions
NOI Build-Up for 1,369 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
$62.4K $45.60/SF
− Vacancy
−$14.0K −$10.26/SF
EGI
$48.4K $35.34/SF
− OpEx
−$12.1K −$8.84/SF
NOI
$36.3K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$725,700
Cap Rate 7%
$518,357
Cap Rate 9%
$403,167
Alternative Uses
Best Use
Office B
$518.4K
$453.6K – $604.8K
NOI $36,285 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$694.6K
$607.7K – $810.3K
NOI $48,619 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,880
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Professional workspace with private meeting space, kitchen amenities, covered parking, and building security.
Where is this office units located?
The property is located at 1607 Ponce De Leon Blvd 202 Coral Gables, FL.
What is the asking price?
The asking price for this property is $736,000.
What are key features of this property?
This property features: 1,369‑square‑foot office unit on the second floor; Two covered, gated parking spaces included; North- and west‑facing wall‑to‑wall windows
