Updated Office in Coral
For Sale
$450,000
717 Ponce De Leon Blvd # 328, Coral Gables, FL 33134
Updated office space in a boutique building, prime Coral Gables location.
Property Size1,253 SF
Days on Market337
Property Features for 717 Ponce De Leon Blvd # 328
General Information
Standard status
Active
Size
1,253 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$5,357
Building Details
Building Size
1,253 SF
Year Built
1971
Listing Agency:
Pilar Hopkins & Assoc Realty
Listed By:
M. Pilar Hopkins · License #0675645
(305) 992-8177
Source:
Vanessafrankmiami
Added: Oct 7, 2025
Changed: Sep 2
Last Checked: Sep 7 at 9:37AM
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 Pilar Hopkins & Assoc Realty
Investment Insights
Based on property information with market context.
This updated office space is located in a boutique building in Coral Gables, Florida. The property is move-in ready and suitable for a business office or lease. The suite features wood flooring throughout, two private offices with large windows, a spacious waiting area, and a large conference meeting room. There is also a receptionist area, a storage room, and a large closet. The property includes three covered garage parking spaces. Two his and hers bathrooms are located close to the suite, and the building has two elevators. The building features a private gated parking garage entrance with key card access, a large lobby, and a small cafeteria. The property is located in a central location.
Key Highlights
- Prime Coral Gables location in a prestigious area.
- Fully updated and move‑in ready office space.
- Three included covered garage parking spaces.
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
$33,211
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
7.38%
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%
$664,220
$664.2K
Cap Rate 7%
$474,443
$474.4K
Cap Rate 9%
$369,011
$369.0K
Market Conditions
NOI Build-Up for 1,253 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
$57.1K $45.60/SF
− Vacancy
−$12.9K −$10.26/SF
EGI
$44.3K $35.34/SF
− OpEx
−$11.1K −$8.84/SF
NOI
$33.2K $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%
$664,220
Cap Rate 7%
$474,443
Cap Rate 9%
$369,011
Alternative Uses
Best Use
Office B
$474.4K
$415.1K – $553.5K
NOI $33,211 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$635.7K
$556.2K – $741.7K
NOI $44,499 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Updated office space in a boutique building, prime Coral Gables location.
Where is this office units located?
The property is located at 717 Ponce De Leon Blvd # 328 Coral Gables, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Prime Coral Gables location in a prestigious area.; Fully updated and move‑in ready office space.; Three included covered garage parking spaces.
