Two-Suite Office
For Sale
$398,500
500-1111 Kane Concourse, Bay Harbor Islands, FL 33154
Fifth-floor professional office with reception space and a flexible two-suite configuration.
Property Size747 SF
Price / SF$533.47
Days on Market167
Property Features for 500-1111 Kane Concourse
General Information
Standard status
Active
Size
747 SF
Elevators
Yes
Additional Details
Floor
5
HOA Fee
$1,200
Amenities
upgraded hallways
Listing Agency:
Keller Williams Realty SW
(954) 588-2850
Listed By:
Maria C Korman · License #3079498
(954) 588-2850
Source:
Exprealty
Added: Mar 15
Changed: Aug 21
Last Checked: Aug 26 at 12:07PM
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 Keller Williams Realty SW
Investment Insights
Based on property information with market context.
This 747-square-foot office unit occupies the fifth floor of a professional building in Bay Harbor Islands. Its current layout includes two private offices along with a reception and living room area, providing separate work areas and a defined client arrival space. The configuration can also be consolidated into one larger executive office.
Building features include updated common hallways, modern elevators, guest parking, and secured parking for owners and tenants. The property is near Bal Harbour Shops, Surfside, and Miami Beach, with access to area dining, beaches, and business services. The space is suited to medical, legal, consulting, and financial office users, as well as investors seeking an office asset.
Building features include updated common hallways, modern elevators, guest parking, and secured parking for owners and tenants. The property is near Bal Harbour Shops, Surfside, and Miami Beach, with access to area dining, beaches, and business services. The space is suited to medical, legal, consulting, and financial office users, as well as investors seeking an office asset.
Key Highlights
- 747 SF office unit on the 5th floor
- Two private office suites plus reception and living room area
- Layout can be combined into one larger executive office
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
$19,799
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
4.97%
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%
$395,980
$396.0K
Cap Rate 7%
$282,843
$282.8K
Cap Rate 9%
$219,989
$220.0K
Market Conditions
NOI Build-Up for 747 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
$34.1K $45.60/SF
− Vacancy
−$7.7K −$10.26/SF
EGI
$26.4K $35.34/SF
− OpEx
−$6.6K −$8.84/SF
NOI
$19.8K $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%
$395,980
Cap Rate 7%
$282,843
Cap Rate 9%
$219,989
Alternative Uses
Best Use
Office B
$282.8K
$247.5K – $330.0K
NOI $19,799 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.0K
$331.6K – $442.2K
NOI $26,529 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 33154, FL
14,792
Population
10,104
Households
1.5
Avg Household Size
46
Median Age
59%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
7,785
Density / Sq Mi
$87,806
Median Household Income
$53,711
Median Earnings
$2,245
Median Rent
$741,400
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 - Fifth-floor professional office with reception space and a flexible two-suite configuration.
Where is this office units located?
The property is located at 500-1111 Kane Concourse Bay Harbor Islands, FL.
What is the asking price?
The asking price for this property is $398,500.
What are key features of this property?
This property features: 747 SF office unit on the 5th floor; Two private office suites plus reception and living room area; Layout can be combined into one larger executive office
