Fifth-Floor Office
For Sale
$5,000,000
500-605 Lincoln Rd, Miami Beach, FL 33139
Fully renovated 2025 fifth-floor office condo features 18 private offices, conference room, and secure elevator reception.
Property Size9,800 SF
Price / SF$510.20
Days on Market245
Property Features for 500-605 Lincoln Rd
General Information
Standard status
Active
Size
9,800 SF
Amenities
secure elevator
private reception area
conference room
modern kitchen
Building Details
Year Renovated
2025
Tenancy
Single
Listing Agency:
Compass Florida, LLC
(305) 851-2820
Listed By:
Menachem Fellig · License #3291623
(786) 221-7700
Source:
Exprealty
Added: Jan 5
Changed: Sep 5
Last Checked: Sep 7 at 2:40PM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This offering includes the entire fifth floor office condominium at 605 Lincoln Road. The space was fully renovated in 2025 and includes new porcelain flooring, upgraded bathrooms, a brand new modern kitchen, custom millwork, and updated lighting. The layout provides 18 private offices, including two executive suites, along with a conference room, and a secure elevator that opens directly into a private reception area.
Parking is available through the City of Miami Beach in an adjacent public parking garage. The building is positioned steps from the approved convention center hotel site currently under construction for an approximately 800-room hotel.
The property is currently configured as a single tenant office floor, with flexibility noted for potential reconfiguration to multi-tenant use if desired.
Parking is available through the City of Miami Beach in an adjacent public parking garage. The building is positioned steps from the approved convention center hotel site currently under construction for an approximately 800-room hotel.
The property is currently configured as a single tenant office floor, with flexibility noted for potential reconfiguration to multi-tenant use if desired.
Key Highlights
- Entire 5th‑floor office condominium offered for sale, totaling approximately 9,800 SF
- Fully renovated in 2025 with new porcelain flooring, upgraded bathrooms, and a brand‑new modern kitchen
- Layout includes 18 private offices (including two executive suites) plus a conference room
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
$259,749
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
5.19%
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%
$5,194,980
$5.2M
Cap Rate 7%
$3,710,700
$3.7M
Cap Rate 9%
$2,886,100
$2.9M
Market Conditions
NOI Build-Up for 9,800 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
$446.9K $45.60/SF
− Vacancy
−$100.5K −$10.26/SF
EGI
$346.3K $35.34/SF
− OpEx
−$86.6K −$8.84/SF
NOI
$259.7K $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%
$5,194,980
Cap Rate 7%
$3,710,700
Cap Rate 9%
$2,886,100
Alternative Uses
Best Use
Office B
$3.71M
$3.25M – $4.33M
NOI $259,749 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.97M
$4.35M – $5.80M
NOI $348,037 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,122
Businesses Nearby
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
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 - Fully renovated 2025 fifth-floor office condo features 18 private offices, conference room, and secure elevator reception.
Where is this office units located?
The property is located at 500-605 Lincoln Rd Miami Beach, FL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Entire 5th‑floor office condominium offered for sale, totaling approximately 9,800 SF; Fully renovated in 2025 with new porcelain flooring, upgraded bathrooms, and a brand‑new modern kitchen; Layout includes 18 private offices (including two executive suites) plus a conference room
