Two-Story Office
For Sale
$3,999,999
355 Palermo Ave, Coral Gables, FL 33134
Boutique two-story office building in MU-3 zoning with flexible space and immediate occupancy for professional users.
Property Size4,817 SF
Price / SF$830.39
Days on Market76
Property Features for 355 Palermo Ave
General Information
Standard status
Active
Size
4,817 SF
Property subtype
Mixed Use
Building Details
Year Built
1969
Listing Agency:
United Realty Group Inc
(305) 345-5803
Listed By:
Nelson Sayegh · License #3216745
(305) 345-5803
Source:
Xome
Added: May 18
Changed: Jul 10
Last Checked: Jul 16 at 2:13AM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This boutique two-story commercial building offers approximately 5,000 SF of flexible space designed for professional office use. The property features a distinctive architectural façade and is presented as an owner-user and tenant-ready option with immediate occupancy available.
The building is located at 355 Palermo Avenue in Coral Gables and is adjacent to a city public parking lot, adding convenience for clients and staff. The property is zoned MU-3.
Given the flexible layout and MU-3 zoning, the building is well suited for law firms and financial professionals looking for an established, professional office environment. Immediate occupancy supports users who want to move forward without delay, while the adjacent public parking can help with day-to-day access for meetings and client traffic.
The building is located at 355 Palermo Avenue in Coral Gables and is adjacent to a city public parking lot, adding convenience for clients and staff. The property is zoned MU-3.
Given the flexible layout and MU-3 zoning, the building is well suited for law firms and financial professionals looking for an established, professional office environment. Immediate occupancy supports users who want to move forward without delay, while the adjacent public parking can help with day-to-day access for meetings and client traffic.
Key Highlights
- Boutique two‑story commercial building with 5,000 SF of flexible space
- MU‑3 zoning; suitable for professional uses such as law firms and financial professionals
- Immediate occupancy available
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $219.7k | $45.60 |
| − Vacancy | −$49.4k | −$10.26 |
| EGI | $170.2k | $35.34 |
| − OpEx | −$42.6k | −$8.84 |
| NOI | $127.7k | $26.51 |
4,817 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.82M
$1.60M – $2.13M
NOI $127,675 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $171,071 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,915
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
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Frequently Asked Questions
What type of property is this?
Office building - Boutique two-story office building in MU-3 zoning with flexible space and immediate occupancy for professional users.
Where is this office building located?
The property is located at 355 Palermo Ave Coral Gables, FL.
What is the asking price?
The asking price for this property is $3,999,999.
What are key features of this property?
This property features: Boutique two‑story commercial building with 5,000 SF of flexible space; MU‑3 zoning; suitable for professional uses such as law firms and financial professionals; Immediate occupancy available
