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    Property profile & analytics

    299 Alhambra Cir, Unit 218 Coral Gables, FL 33134

    • Office buildings
    • 62,327 SF
    • 0.34 lot acres
    For Sale
    View listing
    $6,771
    Last Sale
    Aug 22, 2024
    $12,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-8475229
    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 299 Alhambra Cir

    Year built
    1958
    Construction
    CONCRETE
    Lot size
    0.34 lot acres
    Property size
    62,327 SF
    Zone code
    6400:COMMERCIAL,CENTRAL
    Property type
    Office buildings
    APN
    03-4108-006-2200
    APU
    341080062200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,500,000
      ML approach
      $12,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,507,000
      Market price range: $10.5M - $36.4M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $18,530,000
      NEIGHBORHOOD: SHOPPING CENTER
      $17,715,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Coral Gables
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2605
    Latitude
    25.7524
    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
    $159,560
    $4,410,000
    $5,490,000
    $9,900,000
    -
    $4,410,000
    $5,490,000
    $9,900,000

    Comparable in this City

    • Value Estimation
      $670,000
      3,282 SF

      2100 Ponce De Leon Blvd Ph, Unit 2

      OFFICE BUILDING (MULTI-STORY) • 3,282 SF
      2100 Ponce De Leon Blvd Ph, Coral Gables, FL 33134-5271
      View Details
    • Value Estimation by Request
      657 SF

      717 Ponce De Leon Blvd Ste, Unit 202

      OFFICE BUILDING (MULTI-STORY) • 657 SF
      717 Ponce De Leon Blvd Ste, Coral Gables, FL 33134-2048
      View Details
    • Value Estimation by Request
      1,610 SF

      555 Biltmore Way Ste, Unit 208

      PROFESSIONAL BUILDING • 1,610 SF
      555 Biltmore Way Ste, Coral Gables, FL 33134-5757
      View Details
    • Value Estimation by Request
      929 SF

      717 Ponce De Leon Blvd Ste, Unit 228

      OFFICE BUILDING (MULTI-STORY) • 929 SF
      717 Ponce De Leon Blvd Ste, Coral Gables, FL 33134-2070
      View Details
    • Value Estimation by Request
      1,698 SF

      717 Ponce De Leon Blvd Ste, Unit 230

      OFFICE BUILDING (MULTI-STORY) • 1,698 SF
      717 Ponce De Leon Blvd Ste, Coral Gables, FL 33134-2070
      View Details
    • Value Estimation by Request
      538 SF

      814 Ponce De Leon Blvd Ste, Unit 317

      OFFICE BUILDING (MULTI-STORY) • 538 SF
      814 Ponce De Leon Blvd Ste, Coral Gables, FL 33134-3033
      View Details

    Similar Nearby for Sale

    • 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
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      7,957 SF

      Freestanding Office Building in Coral Gables

      Award-winning, renovated office building with private parking in prime location.
      133 Sevilla Ave, Coral Gables, FL 33134
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    • New
      $3,850,000

      Renovated Office Building, Coral Gables

      Free-standing, renovated office building in the heart of Coral Gables.
      45 Valencia Ave, Coral Gables, FL 33134
      View Details
    • Contact for pricing

      Prime Coral Gables Location

      Office and retail space in a desirable Coral Gables location.
      299 Alhambra Cir, Coral Gables, FL 33134
      View Details
    • Contact for pricing

      Landmark Coral Gables Office Building

      Corner office building in the heart of Coral Gables.
      2701 Ponce De Leon Blvd, Coral Gables, FL 33134
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    • $2,100,000

      Coral Gables Free-Standing Office Building

      Well-maintained two-story office building in the heart of Coral Gables.
      117 Majorca 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
    • $26 SF/Yr

      Six-Story Office Building For Rent

      Six-story office building in the Gables business district.
      2555 Ponce De Leon Blvd, Miami, 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
    • $55 SF/Yr
      7,957 SF

      Freestanding Office Building in Gables

      Award-winning, renovated office building with private parking in Coral Gables.
      129 Sevilla Ave, Coral Gables, FL 33134
      View Details
    • Contact for pricing
      3,278 SF

      Class A Office Space Available

      Modern Coral Gables office building with renovated spaces for rent.
      999 Ponce De Leon Blvd, Coral Gables, FL 33134
      View Details
    • Contact for pricing
      21,806 SF

      Modern Office Building in Coral Gables

      Class A office space with modern design and rooftop terrace.
      2990 Ponce De Leon Blvd, Coral Gables, FL 33134
      View Details
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    299 Alhambra Cir, Unit 218
    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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