For sale
Office Units
FL
Miami
33131
31 SE 5th Street #CU-502

Office Unit with Private Balcony

New

For Sale

Contact for pricing

31 SE 5th Street #CU-502, Miami, FL 33131

A furnished workspace with river and bay views, assigned parking, and access to shared building amenities.

Property Size550,000 SF

Price / SF$0.00

Days on Market7

Property Features for 31 SE 5th Street #CU-502

General Information

Standard status Active

Size 550,000 SF

Total Parking Spaces 2

Property subtype Office

Additional Details

Furnished Yes

Public Transit Yes

Office Units 1

Amenities

gym

swimming pools

spa

business center

24-hour valet service

private balcony

Building Details

Year Built 2006

Abandoned No

Listing Agency: EXP Realty LLC

Listed By: Carla Utzet · License #3337456

Source: Lehmannflorida

Added: Oct 15 Changed: Oct 21 Last Checked: Oct 20 at 9:33PM

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 EXP Realty LLC

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Investment Insights

Based on property information with market context.

This 284-square-foot office unit at 31 SE 5th Street #CU-502, Miami, includes a private balcony with views of the Miami River and Biscayne Bay. The space is furnished with a TV, monitors, keyboards, a printer, and a refrigerator. The mixed-use condominium and office building dates to 2006 and provides a gym, swimming pools, spa, business center, and 24-hour valet service.

The property is steps from the 5th Street Metromover station and one block from Brickell City Centre. Miami International Airport is approximately 15 minutes away. Two assigned parking spaces are included.

Key Highlights

284 SF furnished office unit with a private balcony
Views of the Miami River and Biscayne Bay
Two assigned parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,778,125

Suggested Prices Based on Cap Rates

Cap Rate 5%

$315,562,500 $315.6M

Cap Rate 7%

$225,401,786 $225.4M

Cap Rate 9%

$175,312,500 $175.3M

Market Conditions

NOI Build-Up for 550,000 SF

Gross rent

$24.75M $45.00/SF

− Vacancy

−$3.71M −$6.75/SF

EGI

$21.04M $38.25/SF

− OpEx

−$5.26M −$9.56/SF

NOI

$15.78M $28.69/SF

Area

Miami, FL

Vacancy

15.00%

Lease Rate

$45.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$315,562,500

Cap Rate 7%

$225,401,786

Cap Rate 9%

$175,312,500

Alternative Uses

Best Use

Office B

$225.40M

$197.23M – $262.97M (±1% cap)

NOI $15,778,125 @ 7.0% cap · market cap 584,375.00%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$371.25M

$324.85M – $433.13M (±1% cap)

NOI $25,987,748 @ 7.0% cap · market cap 962,509.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

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Current Use

UNIK Import LLC Importer Carmen Barcelona Bodywork ... Alternative Medicine Practice Miami O-Shot Doctor Medical Clinic Craftlaunch Courses Training Center Yogart Miami By ... Gym & Fitness Center