Premier Coral Gables Commercial
For Sale
Contact for pricing
Pending
283 Catalonia Ave, Coral Gables, FL 33134
Commercial investment opportunity in the heart of Coral Gables.
Property Size26,956 SF
Days on Market171
Property Features for 283 Catalonia Ave
General Information
Standard status
Pending
Size
26,956 SF
Class
B
Total Parking Spaces
30
Property subtype
Office
Zoning
CB, Coral Gables - Commercial
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Redevelopment
Building Details
Year Built
1955
Year Renovated
2000
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Manny Chamizo #1 Sotheby's Commercial Broker
Listed By:
Manny Chamizo · License #0479698
(786) 486-6655
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Jul 24 at 5:23PM
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 Manny Chamizo #1 Sotheby's Commercial Broker
Investment Insights
Based on property information with market context.
Located at 283 Catalonia Ave, this commercial property in Coral Gables presents an acquisition opportunity for owner-users and value-add investors. The property is situated in a resilient commercial submarket of South Florida. The property contains a total of 26956 square feet.
Key Highlights
- Premier commercial investment property.
- Located in the heart of Coral Gables.
- Rare acquisition opportunity.
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
$714,469
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
4.76%
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%
$14,289,380
$14.3M
Cap Rate 7%
$10,206,700
$10.2M
Cap Rate 9%
$7,938,544
$7.9M
Market Conditions
NOI Build-Up for 26,956 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
$1.23M $45.60/SF
− Vacancy
−$276.6K −$10.26/SF
EGI
$952.6K $35.34/SF
− OpEx
−$238.2K −$8.84/SF
NOI
$714.5K $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%
$14,289,380
Cap Rate 7%
$10,206,700
Cap Rate 9%
$7,938,544
Alternative Uses
Best Use
Office B
$10.21M
$8.93M – $11.91M
NOI $714,469 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.68M
$11.97M – $15.96M
NOI $957,314 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,132
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 building - Commercial investment opportunity in the heart of Coral Gables.
Where is this office building located?
The property is located at 283 Catalonia Ave Coral Gables, FL.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Premier commercial investment property.; Located in the heart of Coral Gables.; Rare acquisition opportunity.
