Prime Office Condo in
For Sale
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1200 Brickell Ave #350, Miami, FL 33131
2,432 SF office condo with views in Miami's Financial District.
Property Size2,432 SF
Price / SF$513.98
Days on Market767
Property Features for 1200 Brickell Ave #350
General Information
Standard status
Active
Size
2,432 SF
Class
A
Property subtype
Office
Investment Type
Value Add
Listing Agency:
FA Commercial
Listed By:
Fabio Faerman, CCIM · License #FL BK3045634
(786) 262-9966
Source:
Crexi
Added: Aug 5, 2024
Changed: Sep 7
Last Checked: Sep 9 at 6:57AM
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 FA Commercial
Investment Insights
Based on property information with market context.
Located in Miami's Financial District, Unit 350 at 1200 Brickell offers a 2,432 square foot office condo for sale. This space features 5 private offices, 1 conference room, and floor-to-ceiling windows providing views of Brickell Avenue. The property is situated within the 20-story office building at 1200 Brickell Avenue, which includes a luxury lobby, on-site management, and 24-hour security.
Key Highlights
- Prime office condo in Miami's Financial District.
- Boasting 2,432 SF with 5 private offices and 1 conference room.
- Spectacular views of Brickell Ave.
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
$69,768
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
5.58%
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%
$1,395,360
$1.4M
Cap Rate 7%
$996,686
$996.7K
Cap Rate 9%
$775,200
$775.2K
Market Conditions
NOI Build-Up for 2,432 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
$109.4K $45.00/SF
− Vacancy
−$16.4K −$6.75/SF
EGI
$93.0K $38.25/SF
− OpEx
−$23.3K −$9.56/SF
NOI
$69.8K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /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%
$1,395,360
Cap Rate 7%
$996,686
Cap Rate 9%
$775,200
Alternative Uses
Best Use
Office B
$996.7K
$872.1K – $1.16M
NOI $69,768 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.64M
$1.44M – $1.92M
NOI $114,913 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
13,007
Businesses Nearby
Explore this area
Business Placement
Demographics for 33131, FL
26,213
Population
18,872
Households
1.4
Avg Household Size
37
Median Age
77%
College-Educated
98%
High-School Grad
0.5 sq mi
ZIP Area
52,426
Density / Sq Mi
$143,114
Median Household Income
$86,331
Median Earnings
$2,847
Median Rent
$621,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Office units - 2,432 SF office condo with views in Miami's Financial District.
Where is this office units located?
The property is located at 1200 Brickell Ave #350 Miami, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Prime office condo in Miami's Financial District.; Boasting 2,432 SF with 5 private offices and 1 conference room.; Spectacular views of Brickell Ave.
