Two-Story Office
329 Palermo Avenue, Coral Gables, FL 33134
For Sale
Contact for pricing
The layout combines private offices, open work areas, a conference room, and on-site parking for owner-user occupancy.
Property Size9,958 SF
Price / SF$803.37
Days on Market21
Property Features for 329 Palermo Avenue
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Condition
Property Use
Amenities
conference room
kitchen
Building Details
Buildings
Stories
Building Size
Listing Agency:
Manny Chamizo #1 Sotheby's Commercial Broker
Listed By:
Manny Chamizo · License FL #0479698
(786) 486-6655
Source:
Crexi
Added: Oct 21
Changed: Nov 8
Last Checked: Nov 8 at 5:09PM
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
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Investment Insights
Based on property information with market context.
This 9,958-square-foot, two-story Class B office building is arranged with 18 offices alongside open-plan workspace. A large conference room, kitchen, and four restrooms serve the building, while the first floor accounts for approximately 1,800 square feet. The property is available for immediate occupancy. Its roof was replaced in 2018 with a GAF integrated system backed by a 20-year guarantee.
Situated in the Coral Gables Central Business District, the building includes 14 on-site parking spaces.
Situated in the Coral Gables Central Business District, the building includes 14 on-site parking spaces.
Key Highlights
- 9,958 SF across two stories; first floor is approximately 1,800 SF
- 18 offices with open‑plan workspace
- Large conference room, kitchen, and four restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$277,882
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,557,640
$5.6M
Cap Rate 7%
$3,969,743
$4.0M
Cap Rate 9%
$3,087,578
$3.1M
Market Conditions
NOI Build-Up for 9,958 SF
Gross rent
$442.1K $44.40/SF
− Vacancy
−$71.6K −$7.19/SF
EGI
$370.5K $37.21/SF
− OpEx
−$92.6K −$9.30/SF
NOI
$277.9K $27.91/SF
Area
Miami-Dade County, FL
Vacancy
16.20%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,557,640
Cap Rate 7%
$3,969,743
Cap Rate 9%
$3,087,578
Alternative Uses
Best Use
Office B
$3.97M
$3.47M – $4.63M
NOI $277,882 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.44M
$4.76M – $6.34M
NOI $380,647 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,915
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
$660,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Coral Gables, FL
Properties on Market for Office buildings in Coral Gables
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The layout combines private offices, open work areas, a conference room, and on-site parking for owner-user occupancy.
Where is this office building located?
The property is located at 329 Palermo Avenue Coral Gables, FL.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: 9,958 SF across two stories; first floor is approximately 1,800 SF; 18 offices with open‑plan workspace; Large conference room, kitchen, and four restrooms
