Oceanfront Office Unit with Building
For Sale
$399,000
C2-5005 Collins Ave, Miami Beach, FL 33139
Versatile oceanfront office unit currently used as a real estate office, with building amenities and one assigned parking space.
Property Size455 SF
Price / SF$876.92
Days on Market52
Property Features for C2-5005 Collins Ave
General Information
Standard status
Active
Size
455 SF
Total Parking Spaces
1
Taxes and HOA fees
Annual Taxes
$5,169
Building Details
Owner Occupied
Yes
Listing Agency:
Avant International Realty, LLC
(305) 305-1430
Listed By:
Stephen Alexis Ortiz · License #3266633
(786) 285-2070
Source:
Exprealty
Added: Jul 26
Changed: Sep 4
Last Checked: Sep 14 at 11:57AM
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 Avant International Realty, LLC
Investment Insights
Based on property information with market context.
This oceanfront office unit is currently used as a real estate office and offers flexibility with approval for alternative uses, including retail, professional office, personal service, or a cafe. The space is 455 SF and includes access to all building amenities. One assigned parking space is included, and additional parking may be available for rent through management.
Maintenance includes A/C bills and maintenance and all utilities except interior FPL electric. The unit is owner occupied, and the sellers are flexible on closing time with an easy-to-show arrangement.
Seller financing may be considered depending on the terms. The seller will also pay the assessment at closing.
Maintenance includes A/C bills and maintenance and all utilities except interior FPL electric. The unit is owner occupied, and the sellers are flexible on closing time with an easy-to-show arrangement.
Seller financing may be considered depending on the terms. The seller will also pay the assessment at closing.
Key Highlights
- Oceanfront office unit with access to all building amenities
- Currently used as a real estate office; with approval can be retail, professional office, personal service, or cafe
- 455 SF office unit layout
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
$12,060
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
3.02%
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%
$241,200
$241.2K
Cap Rate 7%
$172,286
$172.3K
Cap Rate 9%
$134,000
$134.0K
Market Conditions
NOI Build-Up for 455 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
$20.7K $45.60/SF
− Vacancy
−$4.7K −$10.26/SF
EGI
$16.1K $35.34/SF
− OpEx
−$4.0K −$8.84/SF
NOI
$12.1K $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%
$241,200
Cap Rate 7%
$172,286
Cap Rate 9%
$134,000
Alternative Uses
Best Use
Office B
$172.3K
$150.8K – $201.0K
NOI $12,060 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$230.8K
$202.0K – $269.3K
NOI $16,159 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
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 - Versatile oceanfront office unit currently used as a real estate office, with building amenities and one assigned parking space.
Where is this office units located?
The property is located at C2-5005 Collins Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Oceanfront office unit with access to all building amenities; Currently used as a real estate office; with approval can be retail, professional office, personal service, or cafe; 455 SF office unit layout
