Office Unit with Covered
For Sale
$530,000
201-1607 Ponce De Leon Blvd, Coral Gables, FL 33134
Professional office configuration with natural light, on-site security, and concierge services in a mixed-use condominium building.
Property Size974 SF
Price / SF$544.15
Days on Market76
Property Features for 201-1607 Ponce De Leon Blvd
General Information
Standard status
Active
Size
974 SF
Total Parking Spaces
3
Additional Details
Floor
2
Taxes and HOA fees
Annual Taxes
$8,047
Amenities
concierge services
24 hour security system
Building Details
Year Built
2008
Buildings
1
Listing Agency:
RE/MAX United Realty
(305) 606-1069
Listed By:
Matilde Aguirre · License #0364522
(305) 606-1069
Source:
Exprealty
Added: Jun 18
Changed: Aug 30
Last Checked: Aug 31 at 6:55PM
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 974-square-foot office unit is located on the second floor of The Ponce de Leon Condominium, a mixed-use building completed in 2008. The layout includes two private offices, a sizable bullpen area with cabinetry, and a kitchen equipped with a built-in microwave. Wall-to-wall windows oriented north and west bring substantial natural light into the workspace.
The property includes three covered, gated parking spaces and a 24-hour security system. Building amenities include concierge service, with nine commercial offices on the second floor. The configuration is suited to professional office operations such as accounting, title services, legal practice, support services, real estate, or architecture. Miami International Airport is 3.3 miles away, approximately 10 minutes by car.
The property includes three covered, gated parking spaces and a 24-hour security system. Building amenities include concierge service, with nine commercial offices on the second floor. The configuration is suited to professional office operations such as accounting, title services, legal practice, support services, real estate, or architecture. Miami International Airport is 3.3 miles away, approximately 10 minutes by car.
Key Highlights
- 974 SF office unit on the second floor
- Two private offices plus bullpen area with cabinetry
- 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
$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
Current Use
Location Intelligence
Trade Area within ½ mile
2,881
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 office configuration with natural light, on-site security, and concierge services in a mixed-use condominium building.
Where is this office units located?
The property is located at 201-1607 Ponce De Leon Blvd 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: 974 SF office unit on the second floor; Two private offices plus bullpen area with cabinetry; North- and west‑facing wall‑to‑wall windows
