Remodeled Office
For Sale
$315,000
717 Ponce De Leon Blvd # 206, Coral Gables, FL 33134
Remodeled office condo with in-suite kitchen, two assigned covered parking spaces, and a tenant in place through March 2027.
Property Size674 SF
Price / SF$467.36
Days on Market262
Property Features for 717 Ponce De Leon Blvd # 206
General Information
Standard status
Active
Size
674 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Office
Occupancy
100%
Amenities
key-card garage access
spacious lobby
on-site cafe
Building Details
Building Size
674 SF
Year Built
1971
Tenancy
Single
Owner Occupied
No
Listing Agency:
HERA Group
Listed By:
Michael Delgado · License #3375282
(786) 369-5518
Source:
Allyandaj
Added: Dec 28, 2025
Changed: Jul 30
Last Checked: Sep 15 at 11:47AM
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 HERA Group
Investment Insights
Based on property information with market context.
Remodeled office condo in a full-service building, currently leased with a tenant in place through March 2027. Unit 206 offers an efficient layout with two main offices, a conference room, potential cubicle space, and a fully equipped in-unit kitchen with a sink and water service. Two restrooms are located nearby on the floor, and the suite is serviced by elevator access.
The building includes water, electricity, A/C, and trash included in HOA fees, along with secure key-card garage access. The lobby is spacious and there is an on-site cafe. Two assigned covered garage parking spaces are included, supporting convenient daily access.
Located at 717 Ponce de Leon Blvd near Ponce de Leon Blvd & 8th Street (Calle Ocho), the property is two blocks from Le Jeune Road in the Coral Gables corridor.
The building includes water, electricity, A/C, and trash included in HOA fees, along with secure key-card garage access. The lobby is spacious and there is an on-site cafe. Two assigned covered garage parking spaces are included, supporting convenient daily access.
Located at 717 Ponce de Leon Blvd near Ponce de Leon Blvd & 8th Street (Calle Ocho), the property is two blocks from Le Jeune Road in the Coral Gables corridor.
Key Highlights
- Leased with tenant in place through March 2027
- Unit 206 layout: two main offices plus a conference room
- Fully equipped in‑unit kitchen with sink and water service
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
5.67%
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 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$341.9K
$299.2K – $398.9K
NOI $23,936 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Remodeled office condo with in-suite kitchen, two assigned covered parking spaces, and a tenant in place through March 2027.
Where is this office units located?
The property is located at 717 Ponce De Leon Blvd # 206 Coral Gables, FL.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Leased with tenant in place through March 2027; Unit 206 layout: two main offices plus a conference room; Fully equipped in‑unit kitchen with sink and water service
