Two-Unit Office
For Sale
$310,500
717 Ponce De Leon Blvd, Coral Gables, FL 33134
Two separately addressable office suites can function together or operate independently.
Property Size534 SF
Price / SF$581.46
Days on Market120
Property Features for 717 Ponce De Leon Blvd
General Information
Standard status
Active
Size
534 SF
Property subtype
General Commercial
Additional Details
Public Transit
Yes
Office Units
2
Amenities
3
Building Details
Year Built
1971
Listing Agency:
Cespedes Realty LLC
(786) 326-4574
Listed By:
David Cespedes · License #3253120
(786) 326-4574
Source:
Xome
Added: Apr 15
Changed: Aug 12
Last Checked: Aug 12 at 5:07AM
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 Cespedes Realty LLC
Investment Insights
Based on property information with market context.
Located at 717 Ponce De Leon Blvd in Coral Gables, this office condominium contains two separately addressable units. The configuration allows the spaces to function as one combined workplace or remain independent, giving an owner flexibility to occupy one suite and lease the other. Association fees cover electricity, water, and exterior maintenance. Covered gated parking serves the property, while a trolley stop is positioned directly in front of the building. The address also places the office units within access to Coral Gables amenities. Built in 1971, the property offers a compact office configuration for a professional firm seeking separate or combined space.
Key Highlights
- Two office units can operate independently or as one combined space
- Each unit has its own mailing address
- Association fees include electricity, water, and exterior maintenance
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
$14,154
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
4.56%
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%
$283,080
$283.1K
Cap Rate 7%
$202,200
$202.2K
Cap Rate 9%
$157,267
$157.3K
Market Conditions
NOI Build-Up for 534 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
$24.4K $45.60/SF
− Vacancy
−$5.5K −$10.26/SF
EGI
$18.9K $35.34/SF
− OpEx
−$4.7K −$8.84/SF
NOI
$14.2K $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%
$283,080
Cap Rate 7%
$202,200
Cap Rate 9%
$157,267
Alternative Uses
Best Use
Office B
$202.2K
$176.9K – $235.9K
NOI $14,154 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$270.9K
$237.1K – $316.1K
NOI $18,964 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
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 - Two separately addressable office suites can function together or operate independently.
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 $310,500.
What are key features of this property?
This property features: Two office units can operate independently or as one combined space; Each unit has its own mailing address; Association fees include electricity, water, and exterior maintenance
