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    Property profile & analytics

    306 Alcazar Ave Coral Gables, FL 33134

    • Office buildings
    • 35,484 SF
    • 0.22 lot acres
    For Sale
    View listing
    $10,650,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2788310
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 306 Alcazar Ave

    Year built
    1984
    Construction
    CONCRETE
    Lot size
    0.22 lot acres
    Property size
    35,484 SF
    Zone code
    6600:COMMERCIAL,LIBERAL
    Property type
    Office buildings
    APN
    03-4108-006-2410
    APU
    341080062410

    Description

    This exceptional four-story office building in Coral Gables, Florida, presents a compelling investment opportunity for owner-occupiers, investors, and developers. Located at 306 Alcazar Ave, 33134, this property boasts a substantial gross living area of 35,484 square feet and an adjusted living area of 25,032 square feet. The building currently features twelve fully occupied offices, providing immediate and consistent cash flow. Ample parking is available with 40 spaces conveniently located on the property. Recent improvements include a brand-new elevator installation, and the building has successfully completed its 40-year recertification. This prime Coral Gables location offers excellent visibility and accessibility. The asking price is $10,650,000. Attractive owner financing is available with a competitive interest rate and a 30% down payment. This is a rare opportunity to acquire a well-maintained, income-producing office building in a highly desirable location. Contact us today to learn more about this exceptional investment opportunity and explore the owner financing options. The property is situated in Miami-Dade County and benefits from its strategic location within Coral Gables.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Coral Gables
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2612
    Latitude
    25.7526
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $89,891
    $2,820,000
    $2,413,080
    $5,233,080
    -
    $2,820,000
    $2,413,080
    $5,233,080

    Comparable in this City

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      View Details
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      1001 Ponce De Leon Blvd

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      View Details
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      2,973 SF

      2020 Ponce De Leon Blvd Ste 102a

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      2020 Ponce De Leon Blvd Ste 102a, Coral Gables, FL 33134-4475
      View Details
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      $3,120,000
      11,694 SF

      1750 Ponce De Leon Blvd

      PROFESSIONAL BUILDING • 11,694 SF
      1750 Ponce De Leon Blvd, Coral Gables, FL 33134-4417
      View Details
    • Value Estimation
      $995,000
      4,800 SF

      154 Giralda Ave

      OFFICE BUILDING (MULTI-STORY) • 4,800 SF
      154 Giralda Ave, Coral Gables, FL 33134-5209
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    • Value Estimation
      $21,865,000
      124,168 SF

      2855 Le Jeune Rd

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      2855 Le Jeune Rd, Coral Gables, FL 33134-6612
      View Details

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    Similar Nearby for Lease

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      Freestanding Office Building in Gables

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    Coral Gables, FL 33134
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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