Boutique Office in Coral
For Sale
$698,000
2030 S Douglas Rd 109, Coral Gables, FL 33134
Boutique office suite with secure lease and parking.
Property Size1,057 SF
Price / SF$660.36
Days on Market111
Property Features for 2030 S Douglas Rd 109
General Information
Standard status
Active
Size
1,057 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,918
Building Details
Building Size
1,057 SF
Year Built
2005
Stories
9
Listing Agency:
Lee Maloff Realty Inc
(305) 444-6692
Listed By:
Elizabeth Maloff · License #0396216
(305) 444-6692
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 11 at 9:26AM
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 Lee Maloff Realty Inc
Investment Insights
Based on property information with market context.
This 1,057 square foot boutique office suite is strategically located in the epicenter of Coral Gables' business district. The property offers a secure lease through the second quarter of 2027, yielding a 6.25% VAP, making it suitable for 1031 exchange buyers or conservative investors. The unit includes two assigned covered parking spaces, with the option to purchase additional spaces at $30,000 each. The building also provides free visitor parking. Situated between Merrick Park and Miracle Mile, the suite offers access to a private gym and swimming pool. The location is one block from Miracle Mile, with proximity to the Plaza Coral Gables. The property has individual AC. The bike score is 59, indicating it is bikeable. The walk score is 90, designating it as a walker's paradise, and the transit score is 47, indicating some transit options are available. There are no special assessments.
Key Highlights
- High yield investment opportunity with an attractive 6.25% VAP.
- Secure lease in place through Q2 2027, ideal for 1031 exchange.
- Prime location in the heart of Coral Gables business district, near Miracle Mile and Merrick Park.
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
$28,016
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
4.01%
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%
$560,320
$560.3K
Cap Rate 7%
$400,229
$400.2K
Cap Rate 9%
$311,289
$311.3K
Market Conditions
NOI Build-Up for 1,057 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
$48.2K $45.60/SF
− Vacancy
−$10.8K −$10.26/SF
EGI
$37.4K $35.34/SF
− OpEx
−$9.3K −$8.84/SF
NOI
$28.0K $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%
$560,320
Cap Rate 7%
$400,229
Cap Rate 9%
$311,289
Alternative Uses
Best Use
Office B
$400.2K
$350.2K – $466.9K
NOI $28,016 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$536.3K
$469.2K – $625.6K
NOI $37,538 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,856
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Boutique office suite with secure lease and parking.
Where is this office units located?
The property is located at 2030 S Douglas Rd 109 Coral Gables, FL.
What is the asking price?
The asking price for this property is $698,000.
What are key features of this property?
This property features: High yield investment opportunity with an attractive 6.25% VAP.; Secure lease in place through Q2 2027, ideal for 1031 exchange.; Prime location in the heart of Coral Gables business district, near Miracle Mile and Merrick Park.
