Mixed-Use Building with Ground-Floor
For Sale
Contact for pricing
299 Alhambra Cir # 224, Coral Gables, FL 33134
Four office levels sit above retail space, with garage parking and on-site property management.
Property Size62,327 SF
Price / SF$0.13
Days on Market393
Property Features for 299 Alhambra Cir # 224
General Information
Standard status
Active
Size
62,327 SF
Property subtype
Office
Site & Location
Neighborhood
Downtown Coral Gables
Additional Details
Property Use
Office
Taxes and HOA fees
Annual Taxes
$165,067
Amenities
flexible office layouts
on site property management
Building Details
Building Size
62,327 SF
Year Built
1959
Buildings
1
Stories
5
Listing Agency:
Emporio Real Estate
Listed By:
Ari Banegas · License #3242158
(305) 989-9794
Source:
Emporiore
Added: Oct 1, 2025
Changed: Oct 27
Last Checked: Oct 27 at 4:38AM
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 Emporio Real Estate
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Investment Insights
Based on property information with market context.
This 62,327-square-foot mixed-use property in Coral Gables combines ground-floor retail with four floors of office space. Built in 1959, the building offers adaptable office layouts, garage parking behind the property, and on-site management.
The property stands at Alhambra Circle and Salzedo Street. Nearby tenants include FIFA, The Coral Gables Trust, Hyatt Hotels, and The Allen Morris Company. The location is near Miracle Mile, the airport, major roads, and residential communities.
The property stands at Alhambra Circle and Salzedo Street. Nearby tenants include FIFA, The Coral Gables Trust, Hyatt Hotels, and The Allen Morris Company. The location is near Miracle Mile, the airport, major roads, and residential communities.
Key Highlights
- 62,327‑square‑foot mixed‑use property
- Ground‑floor retail with four office floors
- Built in 1959
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,053,900
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,078,000
$21.1M
Cap Rate 7%
$15,055,714
$15.1M
Cap Rate 9%
$11,710,000
$11.7M
Market Conditions
NOI Build-Up for 62,327 SF
Gross rent
$1.65M $26.40/SF
− Vacancy
−$139.9K −$2.24/SF
EGI
$1.51M $24.16/SF
− OpEx
−$451.7K −$7.25/SF
NOI
$1.05M $16.91/SF
Area
Miami-Dade County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,078,000
Cap Rate 7%
$15,055,714
Cap Rate 9%
$11,710,000
Alternative Uses
Best Use
Office B
$23.60M
$20.65M – $27.53M
NOI $1,651,977 @ 7.0% cap · market cap 20,678.14%
Second Best
Mixed Use
$15.36M
$13.44M – $17.92M
NOI $1,075,141 @ 7.0% cap · market cap 13,457.77%
Theoretical Best
Office A
$31.62M
$27.67M – $36.89M
NOI $2,213,478 @ 7.0% cap · market cap 27,706.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Location Intelligence
Trade Area within ½ mile
8,550
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four office levels sit above retail space, with garage parking and on-site property management.
Where is this mixed-use property located?
The property is located at 299 Alhambra Cir # 224 Coral Gables, FL.
What are key features of this property?
This property features: 62,327‑square‑foot mixed‑use property; Ground‑floor retail with four office floors; Built in 1959
