Turnkey Professional Office
For Sale
$530,000
1607 Ponce De Leon Boulevard Unit 201, Coral Gables, FL 33134
Turnkey second-floor suite with natural light, office and bullpen layout, and covered gated parking in a secure condominium building.
Property Size974 SF
Price / SF$544.15
Days on Market74
Property Features for 1607 Ponce De Leon Boulevard Unit 201
General Information
Standard status
Active
Size
974 SF
Total Parking Spaces
3
Property subtype
Office
Additional Details
Business Included
Yes
Office Units
2
Building Details
Year Built
2008
Listing Agency:
RE/MAX United Realty
(305) 606-1069
Listed By:
Matilde Aguirre · License #R11165434
(305) 606-1069
Source:
Lehmannflorida
Added: Jun 17
Changed: Aug 28
Last Checked: Aug 28 at 12:05PM
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 turnkey office suite is located in the Ponce de Leon Condominium building and includes two offices, a large bullpen area with cabinetry, and a kitchen with a built-in microwave. The space is configured for professional use and features wall-to-wall windows facing north and west, bringing in substantial natural light. The building was constructed in 2008, and the suite is part of a boutique setting with only nine commercial offices on the second floor.
The property includes three covered and gated parking spaces, supported by a 24-hour security system. The building provides concierge services. Access and services are designed for day-to-day operations and client visits.
With its established office layout, turnkey condition, and professional configuration, the suite is well suited for a range of professional practices. It would fit well for uses such as an accountant, title company, law office, support services firm, real estate office, or an architect office. The secure parking and controlled environment support tenant and staff convenience for regular business operations.
The property includes three covered and gated parking spaces, supported by a 24-hour security system. The building provides concierge services. Access and services are designed for day-to-day operations and client visits.
With its established office layout, turnkey condition, and professional configuration, the suite is well suited for a range of professional practices. It would fit well for uses such as an accountant, title company, law office, support services firm, real estate office, or an architect office. The secure parking and controlled environment support tenant and staff convenience for regular business operations.
Key Highlights
- Turnkey 974 SF second‑floor office suite in The Ponce de Leon Condominium building (built 2008)
- Suite includes 2 offices plus a large bullpen area with cabinetry
- Kitchen with built‑in microwave and eating/relaxing area
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
$25,816
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
4.87%
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%
$516,320
$516.3K
Cap Rate 7%
$368,800
$368.8K
Cap Rate 9%
$286,844
$286.8K
Market Conditions
NOI Build-Up for 974 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
$44.4K $45.60/SF
− Vacancy
−$10.0K −$10.26/SF
EGI
$34.4K $35.34/SF
− OpEx
−$8.6K −$8.84/SF
NOI
$25.8K $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%
$516,320
Cap Rate 7%
$368,800
Cap Rate 9%
$286,844
Alternative Uses
Best Use
Office B
$368.8K
$322.7K – $430.3K
NOI $25,816 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$494.2K
$432.4K – $576.5K
NOI $34,591 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Turnkey business
Opportunity
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 - Turnkey second-floor suite with natural light, office and bullpen layout, and covered gated parking in a secure condominium building.
Where is this office units located?
The property is located at 1607 Ponce De Leon Boulevard Unit 201 Coral Gables, FL.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Turnkey 974 SF second‑floor office suite in The Ponce de Leon Condominium building (built 2008); Suite includes 2 offices plus a large bullpen area with cabinetry; Kitchen with built‑in microwave and eating/relaxing area
