Turnkey Office Suite in Condo
For Sale
$736,000
Pending
1607 Ponce De Leon Blvd 202, Coral Gables, FL 33134
Turnkey professional office suite with wall-to-wall windows, conference space, and gated covered parking.
Property Size1,369 SF
Days on Market50
Property Features for 1607 Ponce De Leon Blvd 202
General Information
Standard status
Pending
Size
1,369 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$11,451
Building Details
Building Size
1,369 SF
Year Built
2008
Stories
15
Listing Agency:
RE/MAX United Realty
(305) 606-1069
Listed By:
Matilde Aguirre · License #0364522
(305) 606-1069
Source:
Elliman
Added: Jun 24
Changed: Aug 11
Last Checked: Aug 12 at 6:17AM
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 offers a large, bright work area plus a sizable conference room. The space also includes a room with refrigerator and kitchen cabinetry designed for eating and relaxing. With wall-to-wall windows facing north and west, the suite benefits from abundant natural light.
The building is a boutique mixed-use property built in 2008 and configured with only nine commercial offices on the second floor. On-site security is supported by a 24-hour security system, and the suite includes two covered, gated parking spaces.
The layout and amenities make this suite well suited for a range of professional services, including accounting, title and real estate-related operations, legal use, support services, and other professional office functions. The second-floor location within a smaller group of offices can appeal to professional teams seeking a quieter, office-focused environment with concierge services and building oversight.
The building is a boutique mixed-use property built in 2008 and configured with only nine commercial offices on the second floor. On-site security is supported by a 24-hour security system, and the suite includes two covered, gated parking spaces.
The layout and amenities make this suite well suited for a range of professional services, including accounting, title and real estate-related operations, legal use, support services, and other professional office functions. The second-floor location within a smaller group of offices can appeal to professional teams seeking a quieter, office-focused environment with concierge services and building oversight.
Key Highlights
- Turnkey office suite in The Ponce de Leon Condominium building built in 2008
- 1,369 SF office with wall‑to‑wall windows facing north and west for natural light
- Includes large conference room plus a room with refrigerator and kitchen cabinetry for eating/relaxing
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
Lease Details
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 professional office suite with wall-to-wall windows, conference space, and gated covered parking.
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: Turnkey office suite in The Ponce de Leon Condominium building built in 2008; 1,369 SF office with wall‑to‑wall windows facing north and west for natural light; Includes large conference room plus a room with refrigerator and kitchen cabinetry for eating/relaxing
