Multi-Story Office Building with
For Sale
Contact for pricing
641 W Flagler St, Miami, FL 33130
Two office floors sit above a ground-floor covered parking garage, with an elevator serving all levels.
Property Size15,648 SF
Price / SF$0.00
Days on Market104
Property Features for 641 W Flagler St
General Information
Standard status
Active
Size
15,648 SF
Total Parking Spaces
14
Property subtype
Office
Site & Location
Neighborhood
Little Managua
Building Details
Building Size
15,648 SF
Year Built
1982
Stories
3
Listing Agency:
LoKation
Listed By:
Maria Pena Cabezas · License #3379668
(305) 922-1444
Source:
Casacollectiongroup
Added: Jul 16
Changed: Oct 25
Last Checked: Oct 26 at 9:49PM
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 LoKation
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Investment Insights
Based on property information with market context.
This multi-story office building includes two office floors above a ground-floor covered parking garage. Indoor parking is approximately 12–14 spaces, and an elevator provides access to all office levels. The third floor is fully built out and move-in ready, while the second floor may be delivered as-is or renovated to meet tenant requirements.
Located near the intersection of W Flagler Street and SW 6th Avenue in Little Havana, the property is described as minutes from Downtown Miami, Brickell, the Health District, and Miami International Airport. The surrounding area also reports a WalkScore of 96, a TransitScore of 99, and a BikeScore of 77.
With multiple office levels and flexible delivery options for the second floor, the building is presented as suitable for a range of office and professional uses.
Located near the intersection of W Flagler Street and SW 6th Avenue in Little Havana, the property is described as minutes from Downtown Miami, Brickell, the Health District, and Miami International Airport. The surrounding area also reports a WalkScore of 96, a TransitScore of 99, and a BikeScore of 77.
With multiple office levels and flexible delivery options for the second floor, the building is presented as suitable for a range of office and professional uses.
Key Highlights
- Approximately 15,000 SF office building built in 1982
- Two office floors above a ground‑floor covered parking garage with 12–14 indoor parking spaces
- Elevator provides access to all office levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$448,902
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,978,040
$9.0M
Cap Rate 7%
$6,412,886
$6.4M
Cap Rate 9%
$4,987,800
$5.0M
Market Conditions
NOI Build-Up for 15,648 SF
Gross rent
$704.2K $45.00/SF
− Vacancy
−$105.6K −$6.75/SF
EGI
$598.5K $38.25/SF
− OpEx
−$149.6K −$9.56/SF
NOI
$448.9K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,978,040
Cap Rate 7%
$6,412,886
Cap Rate 9%
$4,987,800
Alternative Uses
Best Use
Office B
$6.41M
$5.61M – $7.48M
NOI $448,902 @ 7.0% cap · market cap 997,560.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.56M
$9.24M – $12.32M
NOI $739,375 @ 7.0% cap · market cap 1,643,055.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,292
Businesses Nearby
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Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
Frequently Asked Questions
What type of property is this?
Office building - Two office floors sit above a ground-floor covered parking garage, with an elevator serving all levels.
Where is this office building located?
The property is located at 641 W Flagler St Miami, FL.
What are key features of this property?
This property features: Approximately 15,000 SF office building built in 1982; Two office floors above a ground‑floor covered parking garage with 12–14 indoor parking spaces; Elevator provides access to all office levels
