Two-Unit Office
For Sale
$310,500
717 Ponce De Leon Blvd # 323, Coral Gables, FL 33134
Flexible office ownership with covered gated parking and building services included through association fees.
Property Size534 SF
Price / SF$581.46
Days on Market118
Property Features for 717 Ponce De Leon Blvd # 323
General Information
Standard status
Active
Size
534 SF
Property subtype
Office
Additional Details
Public Transit
Yes
Office Units
2
Building Details
Building Size
534 SF
Year Built
1971
Listing Agency:
Cespedes Realty LLC
(786) 326-4574
Listed By:
David Cespedes · License #3253120
Source:
Allyandaj
Added: Apr 17
Changed: Aug 11
Last Checked: Aug 11 at 5:14AM
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.
This office condominium is configured as two separate units that can function together or independently. Each unit has its own mailing address, allowing an owner to maintain a combined office arrangement or operate the spaces separately. The property was built in 1971.
Association fees cover electricity, water, and exterior maintenance. Covered gated parking serves the property, while a trolley stop directly in front of the building provides transit access. The office is located along Ponce De Leon Boulevard in Coral Gables, near area amenities.
Association fees cover electricity, water, and exterior maintenance. Covered gated parking serves the property, while a trolley stop directly in front of the building provides transit access. The office is located along Ponce De Leon Boulevard in Coral Gables, near area amenities.
Key Highlights
- Duplex‑style office condominium with 2 separate units
- Units can be combined or operated independently, with separate mailing addresses
- 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
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Flexible office ownership with covered gated parking and building services included through association fees.
Where is this office units located?
The property is located at 717 Ponce De Leon Blvd # 323 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: Duplex‑style office condominium with 2 separate units; Units can be combined or operated independently, with separate mailing addresses; Association fees include electricity, water, and exterior maintenance
