Listing Summary
One Sotheby’s International Realty is proud to present 365 Palermo Avenue, Coral Gables.
Full Description
365 Palermo Avenue: A Distinguished Boutique Opportunity in Coral Gables
Boutique Office | Prime Location | 6,883 SF | Offered at $5,495,000
One Sotheby’s International Realty is honored to present 365 Palermo Avenue, a sophisticated two-story commercial asset situated in the vibrant heart of Coral Gables. This property represents a rare acquisition for investors or owner-users seeking a manageable, high-prestige boutique building within one of South Florida’s most sought-after and resilient business corridors.
Property Overview & Configuration
Originally constructed in 1970 and recently updated to meet contemporary professional standards, 365 Palermo Avenue strikes a perfect balance between mid-century character and modern functionality.
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Interior Space: Approximately 6,883 square feet of versatile office/commercial area.
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Footprint: Situated on a 5,000 square-foot lot, providing an efficient and high-impact presence.
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Zoning Excellence: Currently zoned Mixed-Use 3 (MX3), the property offers a broad spectrum of "highest and best use" possibilities, ranging from its current professional office configuration to boutique retail or creative mixed-use concepts.
The Strategic Investment Case
For the discerning investor, this property is a "right-sized" asset. It avoids the management complexities of large-scale office towers while maintaining the elite "City Beautiful" address that top-tier firms demand.
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Value-Add Potential: The asset is perfectly primed for a strategic repositioning. An investor could further elevate the interior finishes to capture the high-end professional services market (law, finance, or architecture) or pivot the ground floor toward luxury retail.
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Owner-User Advantage: The building’s scale is ideal for a firm looking to control its environment and build equity rather than paying rent in a traditional multi-tenant high-rise.
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Redevelopment Synergy: A unique and highly lucrative feature of this offering is the potential to acquire an adjacent parking lot. This assembly would unlock a significant mixed-use redevelopment play, allowing for increased density in a district where land is at a premium.
Financial Snapshot & Income Security
365 Palermo Avenue offers immediate cash flow with a clear "mark-to-market" window in the near future, making it an ideal vehicle for a 1031 exchange or a strategic addition to a commercial portfolio.
| Financial Metric |
Detail |
| Current Annual Rent |
$320,100 |
| Rent per Square Foot |
$50.00 |
| Lease Expiration |
December 31, 2026 |
| Investment Profile |
Core-Plus / Value-Add |
The current lease structure provides nearly two years of guaranteed income at a competitive rate of $50.00 per SF, allowing a new owner ample time to plan for an owner-user move-in, a lease renewal at market rates, or the commencement of a redevelopment project.
The Coral Gables Advantage
Located just steps from the city's finest dining, banking, and luxury residential developments, 365 Palermo Avenue benefits from the permanent prestige of the Coral Gables brand. The MX3 zoning ensures the property remains flexible enough to evolve alongside the city’s world-class urban landscape.
Investor Note: With the lease expiring at the end of 2026, this is the optimal time to secure the asset. You gain the benefit of existing cash flow while maintaining the freedom to execute a new vision for the property in the very near future.
Quick Glance
- Listing ID:
CL-Florida-27498
- Status:
Active
- Year Build:
1970
- Building Size:
6,883 SqFt
- Lot Size:
5,000.00 Acre