Street-Level Office
For Sale
$650,000
357 Almeria Ave, Coral Gables, FL 33134
Commercial Sale, Coral Gables, FL
Property Size1,150 SF
Lot Size0.03 Acres
Price / SF$565.22
Days on Market11
Property Features for 357 Almeria Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6600
Parking
2
Parking features
Assigned, Covered
Security features
Security
Exterior features
Security/High Impact Doors
Directions
Google Map
Subdivision
41
Standard status
Active
APN
03-41-17-047-0740
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GABLES PARK TOWER UNIT 103 UNDIV 1/78 INT IN COMMON ELEMENTS OFF REC 21877-2481 COC 23877-1453 10 2005 1
Tax Annual Amount
9519
HOA Fee
$1,258 Monthly
Legal Description
GABLES PARK TOWER UNIT 103 UNDIV 1/78 INT IN COMMON ELEMENTS OFF REC 21877-2481 COC 23877-1453 10 2005 1
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
front desk concierge
pool
gym
security fire alarm
high impact windows
Building Details
Year built
2003
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Concrete
Listing Agency:
Avanti Way Premiere
(305) 776-4746
Listed By:
Olga Giraldo · License #3539933
(786) 553-0289
Added: Aug 19
Changed: Aug 27
Last Checked: Aug 29 at 10:06PM
MLS# A12064709
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,150-square-foot office condominium occupies a street-level first-floor position and is arranged for professional office use. The interior includes a reception area, waiting room, conference room, two offices, a larger work area, two additional offices, one bathroom, a kitchen, and a storage room. Ceramic tile flooring, central air conditioning, central electric heating, high-impact windows, and block construction are among the existing features.
The condominium was built in 2003 and provides assigned covered parking for two vehicles in a gated garage. Building amenities and services include a front-desk concierge, pool, gym, water service, security, and a fire alarm system. Public water and public sewer serve the property, with a concrete roof in place.
The condominium was built in 2003 and provides assigned covered parking for two vehicles in a gated garage. Building amenities and services include a front-desk concierge, pool, gym, water service, security, and a fire alarm system. Public water and public sewer serve the property, with a concrete roof in place.
Key Highlights
- 1,150 SF first‑floor office condominium with street‑level access
- Reception, waiting, conference, work, kitchen, storage, and office areas
- Two assigned covered 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
Lease Details
1
Office units
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 - Configured with reception, conference, work, kitchen, and support areas.
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 SF first‑floor office condominium with street‑level access; Reception, waiting, conference, work, kitchen, storage, and office areas; Two assigned covered parking spaces in a gated garage
