Fifth-Floor Office
For Sale
$5,000,000
605 Lincoln Road #500, Miami Beach, FL 33139
Fully renovated fifth-floor office condo with 18 private offices, conference room, secure elevator access, and modern finishes.
Property Size9,800 SF
Price / SF$510.20
Days on Market54
Property Features for 605 Lincoln Road #500
General Information
Standard status
Active
Size
9,800 SF
Class
A
Zoning
6600
Additional Details
Office Units
18
Building Details
Building Size
9,800 SF
Year Built
1932
Year Renovated
2025
Stories
1
Tenancy
Single
Listing Agency:
Compass Florida, LLC
(786) 221-7700
Listed By:
Menachem Fellig · License #3291623
(786) 221-7700
Source:
Laerrealty
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 29 at 6:16AM
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.
605 Lincoln Road offers a boutique office building with a newly renovated lobby entrance. For sale is the entire fifth floor office condominium totaling approximately 9,800 SF. The space was fully renovated in 2025 and features new porcelain flooring throughout, upgraded bathrooms, a brand new modern kitchen, custom millwork, and updated lighting.
The office condo is laid out for efficient day-to-day operations, with 18 private offices, including two executive suites, plus a conference room. A secure elevator opens directly into a private reception area, supporting a controlled, professional arrival experience. Natural light is abundant throughout the floor.
This fifth-floor setup works well for a single-tenant organization that values privacy and dedicated reception space, while also offering the flexibility to be reconfigured for multi-tenant use if desired. The building is positioned just steps from Lincoln Road, a well-known outdoor shopping, dining, and entertainment destination, and it is near an approved convention center hotel site currently under construction. Parking is available through the City of Miami Beach in an adjacent public parking garage.
The office condo is laid out for efficient day-to-day operations, with 18 private offices, including two executive suites, plus a conference room. A secure elevator opens directly into a private reception area, supporting a controlled, professional arrival experience. Natural light is abundant throughout the floor.
This fifth-floor setup works well for a single-tenant organization that values privacy and dedicated reception space, while also offering the flexibility to be reconfigured for multi-tenant use if desired. The building is positioned just steps from Lincoln Road, a well-known outdoor shopping, dining, and entertainment destination, and it is near an approved convention center hotel site currently under construction. Parking is available through the City of Miami Beach in an adjacent public parking garage.
Key Highlights
- Entire 5th‑floor office condominium for sale totaling approximately 9,800 SF
- Fully renovated in 2025 with new porcelain flooring, upgraded bathrooms, brand new modern kitchen, custom millwork, and updated lighting
- Layout includes 18 private offices plus a conference room, including two executive suites
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
Property Profile
Current Use
Lease Details
18
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,652
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Fully renovated fifth-floor office condo with 18 private offices, conference room, secure elevator access, and modern finishes.
Where is this office units located?
The property is located at 605 Lincoln Road #500 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 for sale totaling approximately 9,800 SF; Fully renovated in 2025 with new porcelain flooring, upgraded bathrooms, brand new modern kitchen, custom millwork, and updated lighting; Layout includes 18 private offices plus a conference room, including two executive suites
