Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    220 Miracle Mile Coral Gables, FL 33134

    • Retail residential properties
    • 47,999 SF
    • 0.55 lot acres
    For Lease
    View listing
    $0.75 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0510188
    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

    • Retail residential properties

    Property Details for 220 Miracle Mile

    Year built
    1950
    Construction
    CONCRETE
    Lot size
    0.55 lot acres
    Property size
    47,999 SF
    Zone code
    6400:COMMERCIAL,CENTRAL
    Property type
    Retail residential properties
    APN
    03-4117-005-0350
    APU
    341170050350

    Description

    This exceptional single-tenant office space, located at 220 Miracle Mile in Coral Gables, Florida (zip code 33134), offers 47,999 square feet of fully furnished and renovated executive offices. Situated in the heart of Coral Gables' iconic Miracle Mile, this property boasts a prestigious address surrounded by upscale businesses, restaurants, and shops, creating an ideal environment for professionals. The building, encompassing a single structure with one suite, is zoned 6400 and has an APN of 03-41-17-005-0350. The space is bright and spacious, benefiting from abundant natural light. Included in the lease are access to a shared conference room and a fully equipped kitchen. All utilities are covered, including internet, electricity, and water. The expansive common areas further enhance the professional and comfortable atmosphere. This is a truly remarkable opportunity to establish your business in a highly desirable and convenient location. The property's single-tenant occupancy ensures a streamlined and efficient workspace.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $18,900,000
      6.5%
      $17,445,000
      7%
      $16,200,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $11,940,000
      Market price range: $1.38M - $18.3M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $21,110,000
      Current use
      MEDICAL BUILDING
      $21,080,000
      Change: -0% Conversion: Easy
      RETAIL STORES
      $20,525,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Coral Gables
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2591
    Latitude
    25.7492
    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
    $308,038
    $11,972,500
    $11,674,500
    $23,647,000
    -
    $11,972,500
    $11,674,500
    $23,647,000

    Comparable in this City

    • Value Estimation by Request
      974,832 SF

      2811 Ponce De Leon Blvd

      STORES & APARTMENTS • 974,832 SF
      2811 Ponce De Leon Blvd, Coral Gables, FL 33134-6910
      View Details
    • Value Estimation
      $2,480,000
      5,085 SF

      318 Miracle Mile

      STORES & APARTMENTS • 5,085 SF
      318 Miracle Mile, Coral Gables, FL 33134-5820
      View Details
    • Value Estimation
      $3,755,000
      8,269 SF

      205 Aragon Ave

      STORES & APARTMENTS • 8,269 SF
      205 Aragon Ave, Coral Gables, FL 33134-5008
      View Details
    • Value Estimation
      $5,325,000
      11,550 SF

      320 Miracle Mile

      STORES & APARTMENTS • 11,550 SF
      320 Miracle Mile, Coral Gables, FL 33134-5800
      View Details
    • Value Estimation
      $925,000
      2,605 SF

      360 Sevilla Ave

      STORES & APARTMENTS • 2,605 SF
      360 Sevilla Ave, Coral Gables, FL 33134-6615
      View Details
    • Value Estimation
      $5,120,000
      11,698 SF

      2910 Ponce De Leon Blvd

      STORES & APARTMENTS • 11,698 SF
      2910 Ponce De Leon Blvd, Coral Gables, FL 33134-6811
      View Details

    Similar Nearby for Sale

    • $1,500,000

      Coral Gables Mixed-Use Investment

      Prime Coral Gables location, high-potential income.
      345 Malaga Ave, Coral Gables, FL 33134
      View Details
    • $7,258,550
      12,317 SF

      Coral Gables Mixed-Use Gem

      Iconic Coral Gables building, owner-user opportunity.
      3306 Ponce De Leon Rd, Coral Gables, FL 33134
      View Details
    • $4,295,000
      15,325 SF

      Coral Gables Multifamily Investment

      Prime Ponce De Leon Blvd Duplexes
      3621 Ponce De Leon Blvd, Coral Gables, FL 33134
      View Details
    • $2,480,000
      5,682 SF

      Coral Gables Multifamily Investment

      Eight-unit apartment building, prime location.
      114 Antilla Ave, Coral Gables, FL 33134
      View Details
    • $18,000,000

      Coral Gables Office Penthouse | $18M

      Luxury Coral Gables office space, 10,000+ sq ft.
      2020 Ponce De Leon Blvd, Coral Gables, FL 33134
      View Details
    • $1,950,000

      East Gables Multifamily Investment

      Six-bedroom, four-bath duplex, pool, parking
      3711 27Th Ter, Miami, FL 33134
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      22,874 SF

      Coral Gables Executive Suites

      Prime Coral Gables office space. Flexible options available.
      2332 Galiano St, Coral Gables, FL 33134
      View Details
    • $0.02 SF/Yr
      15,227 SF

      Coral Gables Retail Space For Lease

      Prime Coral Gables location, 15,227 sq ft.
      145 Madeira Ave, Coral Gables, FL 33134
      View Details
    • $0.22 SF/Yr
      1,752 SF

      Coral Gables Office Sublease

      1,752 SF Office, Prime Location
      2550 Douglas Rd, Coral Gables, FL 33134
      View Details
    • Contact for pricing

      Coral Gables Office Suite for Lease

      Furnished Office, All Utilities Included
      2655 Le Jeune Rd, Coral Gables, FL 33134
      View Details
    • Contact for pricing
      21,993 SF

      Flagler Plaza: Miami Office Space

      Prime Miami Office & Retail Space. High Visibility, Ample Parking.
      4800 Flagler St, Miami, FL 33134
      View Details
    • $10 SF/Yr
      1,524 SF

      Miami Retail Space - 1524 sq ft

      High-traffic retail space in prime Miami location.
      5143 8Th St, Miami, FL 33134
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    220 Miracle Mile
    Coral Gables, FL 33134
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.