Iconic Coral Gables Mixed-Use
For Sale
Contact for pricing
3306 Ponce de Leon, Coral Gables, FL 33134
Retail and office building in prime Coral Gables location.
Property Size12,317 SF
Price / SF$521.28
Days on Market883
Property Features for 3306 Ponce de Leon
General Information
Standard status
Active
Size
12,317 SF
Class
B
Total Parking Spaces
5
Property subtype
Retail, Office, Mixed Use
Zoning
CB, Coral Gables
Occupancy
60%
Investment Type
Owner/User
Building Details
Year Built
1925
Year Renovated
2022
Stories
2
Tenancy
Multi
Listing Agency:
Scarlett Harper Commercial
Listed By:
Sebastian Misiewicz · License #FL SL3243522
(305) 904-5956
Source:
Crexi
Added: Apr 3, 2024
Changed: Aug 19
Last Checked: Sep 1 at 10:30AM
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 Scarlett Harper Commercial
Investment Insights
Based on property information with market context.
Located at 3306-3310 Ponce De Leon Boulevard in Coral Gables, Florida, this mixed-use building offers approximately 11,167 square feet of retail and office space. Constructed in 1925, the property features restored old Florida Mediterranean style architecture and nearly 100 feet of frontage on Ponce De Leon Boulevard. The ground floor is occupied by Chic Parisien, a bridal store with a long-term lease. The second floor offers approximately 5,400 square feet of office space suitable for multiple tenants or a single tenant. The property is positioned along Coral Gables’ primary north-south commercial corridor, north of Bird Road and S Dixie Highway, and near the Village of Merrick Park. It also provides access to Coral Gables’ central business district, including Miracle Mile and Ponce de Leon Circle. The area includes development sites, hotels, apartments, shopping, restaurants, and single-family homes. The immediate vicinity is a top-performing commercial real estate market in South Florida, characterized by low vacancy rates in both office and retail sectors, positive absorption, and escalating rental rates. A new owner can capitalize on the vacant second floor space, while benefiting from income from the established ground floor tenant, who has been at the property for over 13 years with a long-term lease remaining. The property size is 12,317 square feet.
Key Highlights
- Prime location on Ponce De Leon Boulevard in Coral Gables.
- Significant income potential from established ground floor tenant (Chic Parisien) with a long‑term lease.
- Available second‑floor office space (approximately 5,400 sq ft) for lease or owner‑user occupancy.
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
$326,462
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
5.08%
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%
$6,529,240
$6.5M
Cap Rate 7%
$4,663,743
$4.7M
Cap Rate 9%
$3,627,356
$3.6M
Market Conditions
NOI Build-Up for 12,317 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
$561.7K $45.60/SF
− Vacancy
−$126.4K −$10.26/SF
EGI
$435.3K $35.34/SF
− OpEx
−$108.8K −$8.84/SF
NOI
$326.5K $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%
$6,529,240
Cap Rate 7%
$4,663,743
Cap Rate 9%
$3,627,356
Alternative Uses
Best Use
Office B
$4.66M
$4.08M – $5.44M
NOI $326,462 @ 7.0% cap · market cap 5.08%
Second Best
Mixed Use
$3.04M
$2.66M – $3.54M
NOI $212,468 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$6.25M
$5.47M – $7.29M
NOI $437,425 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
774
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail and office building in prime Coral Gables location.
Where is this mixed-use property located?
The property is located at 3306 Ponce de Leon Coral Gables, FL.
What is the asking price?
The asking price for this property is $6,420,550.
What are key features of this property?
This property features: Prime location on Ponce De Leon Boulevard in Coral Gables.; Significant income potential from established ground floor tenant (Chic Parisien) with a long‑term lease.; Available second‑floor office space (approximately 5,400 sq ft) for lease or owner‑user occupancy.
