Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    250 Palermo Ave Coral Gables, FL 33134-6606
    Back to Search
    Property profile & analytics

    250 Palermo Ave, Coral Gables, FL 33134-6606

    View on Map
    • Office buildings
    • 5,653 SF
    • 0.17 lot acres
    Off-Market
    Last Sale Apr 11, 2024
    $731,250
    Property ID
    US18-8711900
    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.
    Value Estimations
    $1,055,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 250 Palermo Ave

    Year built
    1948
    Construction
    CONCRETE
    Lot size
    0.17 lot acres
    Zone code
    6600:COMMERCIAL,LIBERAL
    Property type
    Office buildings
    APN
    03-4117-005-6390
    APU
    341170056390

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 11, 2024 $731,250 Mav4 Holdings LLC Richard C Sanchez Warranty Deed $780k · First Citizens Bank & Trust Co
    Nov 13, 2012 $2,250,000 First Citizens Bk & Trust Co Merak INC Warranty Deed —
    May 9, 2002 $1,743,500 Merak INC Mardepaz Properties INC Grant Deed —
    Aug 24, 1998 $505,000 Mardepaz Properties INC Zacharias Trust Grant Deed $380k · Seller

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,021,000
      Market price range: $255k - $1.24M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,680,000
      NEIGHBORHOOD: SHOPPING CENTER
      $1,605,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Coral Gables
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.26
    Latitude
    25.7453
    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
    $62,539
    $3,000,000
    $395,930
    $3,395,930
    -
    $3,000,000
    $395,930
    $3,395,930

    Comparable in this City

    • Value Estimation
      $1,030,000
      4,901 SF

      304 Palermo Ave

      OFFICE BUILDING (MULTI-STORY)
      304 Palermo Ave, Coral Gables, FL 33134-6608
      View Details
    • Value Estimation
      $2,885,000
      13,144 SF

      1001 Ponce De Leon Blvd

      OFFICE BUILDING (MULTI-STORY)
      1001 Ponce De Leon Blvd, Coral Gables, FL 33134-3319
      View Details
    • Value Estimation
      $1,080,000
      2,973 SF

      2020 Ponce De Leon Blvd Ste 102a

      OFFICE BUILDING (MULTI-STORY)
      2020 Ponce De Leon Blvd Ste 102a, Coral Gables, FL 33134-4475
      View Details
    • Value Estimation
      $3,120,000
      11,694 SF

      1750 Ponce De Leon Blvd

      PROFESSIONAL BUILDING
      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)
      154 Giralda Ave, Coral Gables, FL 33134-5209
      View Details
    • Value Estimation
      $21,865,000
      124,168 SF

      2855 Le Jeune Rd

      OFFICE BUILDING (MULTI-STORY)
      2855 Le Jeune Rd, Coral Gables, FL 33134-6612
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,200 SF

      Luxury Coral Gables Penthouse Office

      Furnished penthouse office space in Coral Gables business district.
      2020 Ponce De Leon Blvd, Coral Gables, FL 33134
      View Details
    • Contact for pricing
      10,647 SF

      Prime Coral Gables Office Building

      Exceptional office/medical building in Coral Gables with high visibility.
      951 S Le Jeune Rd, Miami, FL 33134
      View Details
    • $3,850,000

      Renovated Commercial Building in Coral Gables

      Free-standing, renovated commercial building in the heart of Coral Gables.
      45 Valencia Ave, Coral Gables, FL 33134
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,375 SF

      Class A Office Space Available

      Landmark Coral Gables office building with high-end finishes.
      550 Biltmore Way, Coral Gables, FL 33134
      View Details
    • Contact for pricing
      13,249 SF

      Coral Gables Office Building

      Six-story office building in the Gables business district.
      2555 Ponce De Leon Blvd, Coral Gables, FL 33134
      View Details
    • Contact for pricing

      Office Space in Coral Gables

      Office space available for rent in Coral Gables, Florida.
      355 Alhambra Cir, Coral Gables, FL 33134
      View Details
    • Contact for pricing
      39,996 SF

      Coral Gables Office Space

      Office building with 39996 square feet available for rent.
      355 Alhambra Cir, Coral Gables, FL 33134
      View Details
    • Contact for pricing
      1,707 SF

      Move-in Ready Office Space

      Charming office space with modern architecture and tenant amenities.
      2121 Ponce De Leon Blvd, Coral Gables, FL 33134
      View Details
    • Contact for pricing
      221,335 SF

      Class-A Office Building in Coral Gables

      Prime Coral Gables location with modern design and amenities.
      201-255 Alhambra Cir, Coral Gables, 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.
    250 Palermo Ave
    Coral Gables, FL 33134-6606
    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

    Thank You for Inquiry
    250 Palermo Ave, Coral Gables, FL, 33134
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!