Street-Level Office
For Sale
$650,000
357 Almeria Ave, Coral Gables, FL 33134
Professional suite with reception, conference, kitchen, storage, and assigned garage parking.
Property Size1,150 SF
Price / SF$565.22
Days on Market11
Property Features for 357 Almeria Ave
General Information
Standard status
Active
Size
1,150 SF
Total Parking Spaces
2
Property subtype
General Commercial
Additional Details
Floor
1
Taxes and HOA fees
Annual Taxes
$9,519
Amenities
concierge
pool
gym
security fire alarm
high impact windows
3
2 Parking Spaces.
Building Details
Year Built
2003
Listing Agency:
(786) 553-0289
Listed By:
Avanti Way Premiere
(786) 553-0289
Source:
Xome
Added: Jul 31
Changed: Aug 10
Last Checked: Aug 10 at 3:04AM
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 Avanti Way Premiere
Investment Insights
Based on property information with market context.
This first-floor office condominium contains 1,150 square feet arranged with a reception area, waiting room, conference room, two executive offices, two additional offices, a sizable work area, one bathroom, kitchen space, and storage. High-impact windows and a front desk concierge support the office environment, while the property was built in 2003.
The condominium is located at 357 Almeria Ave in Coral Gables and includes two assigned parking spaces within a gated garage. Building amenities and services include a pool, gym, water, security, and a fire alarm system.
The condominium is located at 357 Almeria Ave in Coral Gables and includes two assigned parking spaces within a gated garage. Building amenities and services include a pool, gym, water, security, and a fire alarm system.
Key Highlights
- 1,150 SQ FT first‑floor office condominium
- Reception area, waiting room, conference room, four offices, work area, kitchen, bathroom, and storage
- Two assigned parking spaces in a gated garage
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
$30,481
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
4.69%
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%
$609,620
$609.6K
Cap Rate 7%
$435,443
$435.4K
Cap Rate 9%
$338,678
$338.7K
Market Conditions
NOI Build-Up for 1,150 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
$52.4K $45.60/SF
− Vacancy
−$11.8K −$10.26/SF
EGI
$40.6K $35.34/SF
− OpEx
−$10.2K −$8.84/SF
NOI
$30.5K $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%
$609,620
Cap Rate 7%
$435,443
Cap Rate 9%
$338,678
Alternative Uses
Best Use
Office B
$435.4K
$381.0K – $508.0K
NOI $30,481 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$583.4K
$510.5K – $680.7K
NOI $40,841 @ 7.0% cap · market cap 6.28%
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 units - Professional suite with reception, conference, kitchen, storage, and assigned garage parking.
Where is this office units located?
The property is located at 357 Almeria Ave Coral Gables, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,150 SQ FT first‑floor office condominium; Reception area, waiting room, conference room, four offices, work area, kitchen, bathroom, and storage; Two assigned parking spaces in a gated garage
