Remodeled Office Condo
For Sale
$310,000
717 Ponce De Leon Blvd, Coral Gables, FL 33134
Remodeled office condo suite with two private offices, conference room, and in-unit kitchen, plus two assigned covered parking spaces.
Property Size674 SF
Price / SF$459.94
Days on Market240
Property Features for 717 Ponce De Leon Blvd
General Information
Standard status
Active
Size
674 SF
Total Parking Spaces
2
Property subtype
General Commercial
Occupancy
100%
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$3,242
Amenities
3
Building Details
Year Built
1971
Tenancy
Single
Listing Agency:
Vice Ventures, Inc.
(305) 970-3516
Listed By:
Michael Delgado
(305) 970-3516
Source:
Xome
Added: Dec 21, 2025
Changed: Aug 12
Last Checked: Aug 18 at 4:41AM
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 Vice Ventures, Inc.
Investment Insights
Based on property information with market context.
Remodeled professional office condo, currently leased through March 2027, offering immediate income with future owner-user flexibility. Unit 206 features an efficient interior layout with two main offices, one conference room, potential cubicle space, and a fully equipped in-unit kitchen with sink and water service. Two restrooms are located nearby on the floor, with elevator access.
The suite is located in a full-service building on Ponce de Leon Blvd in the heart of Coral Gables, near the intersection of Ponce de Leon Blvd and 8th Street. The property is two blocks from Le Jeune Road. Two assigned covered garage parking spaces are included.
HOA fees include water, electricity, A/C, and trash. The building offers secure key-card garage access, a spacious lobby, and an on-site café.
The suite is located in a full-service building on Ponce de Leon Blvd in the heart of Coral Gables, near the intersection of Ponce de Leon Blvd and 8th Street. The property is two blocks from Le Jeune Road. Two assigned covered garage parking spaces are included.
HOA fees include water, electricity, A/C, and trash. The building offers secure key-card garage access, a spacious lobby, and an on-site café.
Key Highlights
- Remodeled office condo suite with two private offices and one conference room
- Includes an in‑unit kitchen with sink and water service
- Tenant in place through March 2027
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
$17,864
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
5.76%
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%
$357,280
$357.3K
Cap Rate 7%
$255,200
$255.2K
Cap Rate 9%
$198,489
$198.5K
Market Conditions
NOI Build-Up for 674 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
$30.7K $45.60/SF
− Vacancy
−$6.9K −$10.26/SF
EGI
$23.8K $35.34/SF
− OpEx
−$6.0K −$8.84/SF
NOI
$17.9K $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%
$357,280
Cap Rate 7%
$255,200
Cap Rate 9%
$198,489
Alternative Uses
Best Use
Office B
$255.2K
$223.3K – $297.7K
NOI $17,864 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$341.9K
$299.2K – $398.9K
NOI $23,936 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,128
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
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 - Remodeled office condo suite with two private offices, conference room, and in-unit kitchen, plus two assigned covered parking spaces.
Where is this office units located?
The property is located at 717 Ponce De Leon Blvd Coral Gables, FL.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Remodeled office condo suite with two private offices and one conference room; Includes an in‑unit kitchen with sink and water service; Tenant in place through March 2027
