Office Unit with Private
For Sale
$595,000
420 S Dixie Hwy, Coral Gables, FL 33146
Commercial Sale, Coral Gables, FL
Property Size1,210 SF
Price / SF$491.74
Days on Market51
Property Features for 420 S Dixie Hwy
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
4900
Parking
4
Parking features
Assigned, Guest, Covered
Security features
Security Lighting
Directions
Please use GPS and park in Visitor spaces.
Subdivision
31
Standard status
Active
APN
03-41-20-041-0010
Taxes and HOA fees
Tax Year
2025
Tax Description
FIRST PROFESSIONAL CONDOMINIUM PORT OF 2-A-2 SECOND FLOOR UNDIV 4.03% INT IN COMMON ELEMENTS CLERKS FILES 67R 6184 & 67R 28839 & 67R 100987
Tax Annual Amount
8874
HOA Fee
$222 Monthly
Legal Description
FIRST PROFESSIONAL CONDOMINIUM PORT OF 2-A-2 SECOND FLOOR UNDIV 4.03% INT IN COMMON ELEMENTS CLERKS FILES 67R 6184 & 67R 28839 & 67R 100987
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1966
Floors in Building
4
Flooring type
Carpet, Concrete, Tile
Building materials
Block
Roof type
Concrete
Listing Agency:
The Keyes Company
(305) 443-7423
Listed By:
Steven Epstein · License #0348217
(305) 546-5132
Added: Jul 20
Changed: Sep 2
Last Checked: Sep 8 at 4:06AM
MLS# A12054401
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 1,210 SF office unit, built in 1966, provides a reception area, three private offices, one conference room, five workstations, a break room, and additional storage. Tile, concrete, and carpet flooring are paired with central air and electric heating. The building features block construction, a concrete roof, public water, and public sewer.
The property is located at 420 S Dixie Hwy in Coral Gables, with access from multiple directions along U.S. 1. It is positioned in South Coral Gables near the University of Miami, Downtown Coral Gables, South Miami, Coconut Grove, Downtown Miami, and Miami International Airport. Four parking spaces are included, with assigned, covered, and guest parking features identified.
The property is located at 420 S Dixie Hwy in Coral Gables, with access from multiple directions along U.S. 1. It is positioned in South Coral Gables near the University of Miami, Downtown Coral Gables, South Miami, Coconut Grove, Downtown Miami, and Miami International Airport. Four parking spaces are included, with assigned, covered, and guest parking features identified.
Key Highlights
- 1,210 SF office unit with a reception area, 3 private offices, 1 conference room, 5 workstations, break room, and extra storage
- Four parking spaces included with assigned, covered, and guest parking features
- Located at 420 S Dixie Hwy in Coral Gables with direct access from multiple directions along U.S. 1
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
$32,071
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
5.39%
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%
$641,420
$641.4K
Cap Rate 7%
$458,157
$458.2K
Cap Rate 9%
$356,344
$356.3K
Market Conditions
NOI Build-Up for 1,210 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
$55.2K $45.60/SF
− Vacancy
−$12.4K −$10.26/SF
EGI
$42.8K $35.34/SF
− OpEx
−$10.7K −$8.84/SF
NOI
$32.1K $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%
$641,420
Cap Rate 7%
$458,157
Cap Rate 9%
$356,344
Alternative Uses
Best Use
Office B
$458.2K
$400.9K – $534.5K
NOI $32,071 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$613.9K
$537.2K – $716.2K
NOI $42,972 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,098
Businesses Nearby
Explore this area
Business Placement
Demographics for 33146, FL
16,468
Population
6,788
Households
2.4
Avg Household Size
29
Median Age
75%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
5,312
Density / Sq Mi
$124,712
Median Household Income
$41,105
Median Earnings
$2,774
Median Rent
$1,141,800
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 office layout with reception, conference space, workstations, storage, and included parking.
Where is this office units located?
The property is located at 420 S Dixie Hwy Coral Gables, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 1,210 SF office unit with a reception area, 3 private offices, 1 conference room, 5 workstations, break room, and extra storage; Four parking spaces included with assigned, covered, and guest parking features; Located at 420 S Dixie Hwy in Coral Gables with direct access from multiple directions along U.S. 1
