Little Havana Office/Residential — Sale in Miami, FL

Price: Contact for price
Listing type: For sale
Asset type: Office
Location: Miami, FL 33135

Photos

Little Havana Office/Residential — Sale in Miami, FL, photo 1 of 3

Little Havana Office/Residential — Sale in Miami, FL, photo 2 of 3

Little Havana Office/Residential — Sale in Miami, FL, photo 3 of 3

Investment Figures

Cap rate: 2.08%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is proud to present 1401/1429 SW 1st St, an office and residential complex located at 1401 Southwest 1st Street, Miami, FL. This exceptional property offers 25,202 SF of flexible office space and residential units in one of East Little Havana's most sought-after locations. The building caters to a diverse range of tenants with various suites ranging from 150 +/- SF to 3,500 +/- SF, providing a modern environment with strong potential for medical office use. Investment Highlights: • Strategic location positioned just west of the Brickell Financial District and Downtown Miami. • Exceptional proximity to major medical districts, located just 1.5 miles from Jackson Memorial Hospital and UHealth. • Exceptional submarket fundamentals highlighted by a localized vacancy rate of just 3.5%. • Outstanding transit and walkability featuring a Walk Score of 90, providing a "Walker's Paradise" environment. • Highly attractive covered land play opportunity secured by T5 O (Urban Center) zoning, allowing for flexible commercial uses. • Significant Value-Add Potential: Opportunity to increase net operating income by improving occupancy and rental rates

Market Context

This office in Miami, FL is listed for sale. It is offered at an approximate 2.1% capitalization rate, a key benchmark for income-producing office assets. Compare it against other office listings for sale in Miami, FL — view the full market.

As of Q1 2026, the Miami office market showed a 15.1% vacancy rate, and average asking rents near $66.16/SF/yr. Source: multiple brokerage reports, Q1 2026.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Office market FAQ

Is the Miami office market tightening or softening?: Vacancy is around 15.1% (Q1 2026).

Estimated Price per SF

$294.75/SF – $2,144/SF

Mid: $893.17/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.