Corner Office Suite with
For Sale
$495,000
Pending
305-1111 Kane Concourse, Bay Harbor Islands, FL 33154
Turnkey corner office suite with multiple private offices, conference space, and a kitchen or bar area.
Property Size864 SF
Days on Market138
Property Features for 305-1111 Kane Concourse
General Information
Standard status
Pending
Size
864 SF
Taxes and HOA fees
Annual Taxes
$4,800
Listing Agency:
Charles Rutenberg Realty FTL
(954) 396-3001
Listed By:
Oswaldo Guerra, PA · License #3169265
(954) 274-2291
Source:
Exprealty
Added: Apr 29
Changed: Sep 6
Last Checked: Sep 12 at 2:29PM
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 Charles Rutenberg Realty FTL
Investment Insights
Based on property information with market context.
This for-sale corner office unit offers a view from every office and every corner. The suite is in great condition and is ready for immediate use, with approximately 864 square feet of full, usable space. Interior improvements include a kitchen or bar area, a conference room, and three private offices, supporting both focused work and client or team meetings.
The property is positioned to benefit from corner placement and comes with free, plenty parking for occupants and visitors. The listing does not specify other building amenities, but the parking offering supports day-to-day convenience for staff and touring parties.
For buyers seeking an office setup that already includes private rooms and dedicated meeting space, this layout is designed to accommodate a range of professional uses. The presence of a kitchen or bar area adds utility for staff convenience and informal hosting, while the conference room and private offices support a practical, customer-facing or team-based operating model.
The property is positioned to benefit from corner placement and comes with free, plenty parking for occupants and visitors. The listing does not specify other building amenities, but the parking offering supports day-to-day convenience for staff and touring parties.
For buyers seeking an office setup that already includes private rooms and dedicated meeting space, this layout is designed to accommodate a range of professional uses. The presence of a kitchen or bar area adds utility for staff convenience and informal hosting, while the conference room and private offices support a practical, customer-facing or team-based operating model.
Key Highlights
- Corner office suite with views from every office and corner
- 864 SF fully used office space
- Includes a kitchen or bar area
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
$22,900
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
4.63%
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%
$458,000
$458.0K
Cap Rate 7%
$327,143
$327.1K
Cap Rate 9%
$254,444
$254.4K
Market Conditions
NOI Build-Up for 864 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
$39.4K $45.60/SF
− Vacancy
−$8.9K −$10.26/SF
EGI
$30.5K $35.34/SF
− OpEx
−$7.6K −$8.84/SF
NOI
$22.9K $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%
$458,000
Cap Rate 7%
$327,143
Cap Rate 9%
$254,444
Alternative Uses
Best Use
Office B
$327.1K
$286.3K – $381.7K
NOI $22,900 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$438.3K
$383.6K – $511.4K
NOI $30,684 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 33154, FL
14,792
Population
10,104
Households
1.5
Avg Household Size
46
Median Age
59%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
7,785
Density / Sq Mi
$87,806
Median Household Income
$53,711
Median Earnings
$2,245
Median Rent
$741,400
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Turnkey corner office suite with multiple private offices, conference space, and a kitchen or bar area.
Where is this office units located?
The property is located at 305-1111 Kane Concourse Bay Harbor Islands, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Corner office suite with views from every office and corner; 864 SF fully used office space; Includes a kitchen or bar area
