Office Unit with Large
For Sale
$715,860
Pending
2020 PONCE DE LEON Unit 1002, Coral Gables, FL 33134
Raw shell office unit with high ceilings, large balcony views, and three covered parking spaces in a Class A building.
Property Size1,476 SF
Days on Market4036
Property Features for 2020 PONCE DE LEON Unit 1002
General Information
Standard status
Pending
Size
1,476 SF
Class
Class A
Property subtype
General Commercial
Additional Details
Public Transit
Yes
Amenities
views
balcony
high ceilings
3
3 Parking Spaces.
Building Details
Year Built
2009
Listing Agency:
Greater Miami Investments, Inc
(305) 300-5504
Listed By:
Rosmery Quintero
(305) 300-5504
Source:
Xome
Added: Aug 12, 2015
Changed: Aug 22
Last Checked: Jul 30 at 1:49PM
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 Greater Miami Investments, Inc
Investment Insights
Based on property information with market context.
Raw shell office unit in a Class A luxury building at the heart of the Coral Gables business district. The space features high ceilings and is positioned for views of the downtown Miami skyline and Coconut Grove from the windows and a large balcony, offering a clean layout for an owner to finish to suit.
The building includes a large balcony and is served by trolley stops in front of the property. The sale includes parking spaces transferred with the purchase, with three parking spaces on-site in a covered garage.
Built in 2009, the unit provides a starting point for customized improvements while retaining the openness of a raw shell. Interior guest facilities are noted as 3.
The building includes a large balcony and is served by trolley stops in front of the property. The sale includes parking spaces transferred with the purchase, with three parking spaces on-site in a covered garage.
Built in 2009, the unit provides a starting point for customized improvements while retaining the openness of a raw shell. Interior guest facilities are noted as 3.
Key Highlights
- Raw shell office unit with high ceilings and large balcony
- Views of the downtown Miami skyline and Coconut Grove
- Class A luxury building in the Coral Gables business district
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
$39,121
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
5.46%
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%
$782,420
$782.4K
Cap Rate 7%
$558,871
$558.9K
Cap Rate 9%
$434,678
$434.7K
Market Conditions
NOI Build-Up for 1,476 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
$67.3K $45.60/SF
− Vacancy
−$15.1K −$10.26/SF
EGI
$52.2K $35.34/SF
− OpEx
−$13.0K −$8.84/SF
NOI
$39.1K $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%
$782,420
Cap Rate 7%
$558,871
Cap Rate 9%
$434,678
Alternative Uses
Best Use
Office B
$558.9K
$489.0K – $652.0K
NOI $39,121 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$748.8K
$655.2K – $873.7K
NOI $52,419 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
774
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 - Raw shell office unit with high ceilings, large balcony views, and three covered parking spaces in a Class A building.
Where is this office units located?
The property is located at 2020 PONCE DE LEON Unit 1002 Coral Gables, FL.
What is the asking price?
The asking price for this property is $715,860.
What are key features of this property?
This property features: Raw shell office unit with high ceilings and large balcony; Views of the downtown Miami skyline and Coconut Grove; Class A luxury building in the Coral Gables business district
