www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
31120320
31141745

283 Catalonia Ave, Coral Gables, FL 33134

MC
FL 0479698
Manny Chamizo #1 Sotheby’s Commercial Broker
Listed by Manny Chamizo #1 Sotheby’s Commercial Broker
$15,000,000
95 days on market
Updated 5 days ago

283 Catalonia Ave For Sale

Details
APN 03-4117-005-6650, 03-4117-005-6640, 03-4117-005-6660
Property Type Office
Sub Type Executive Office, Traditional Office
Square Footage 26,956
Cap Rate 5.00%
Occupancy 100%
Tenancy Multi
Lease Type Modified
Price per SqFt $556
Class B
Year Built 1955
Year Renovated 2000
Buildings 1
Stories 2
Acreage 0.550
Zoning CB, Coral Gables - Commercial
Parking Spaces 30 spaces
Parking Per SqFt 1.11
Investment Type Redevelopment
Ownership Fee Simple

283 Catalonia Business Hub | Large Redevelopment Opportunity | $15,000,000

Marketing description

One Sotheby's International Realty is proud to present a new listing at 283 Catalonia Ave, a premier commercial investment in the heart of Coral Gables, offered at $15,000,000. 283 Catalonia Ave offers a rare acquisition opportunity for owner-users and value-add investors in one of South Florida’s most resilient commercial submarkets.

Investment highlights

This two-story, 22,811 SF office building sits on a 12,000 SF footprint plus AN ADDITIONAL 12,000 SF of surface parking. That is a total of 24,000 sq ft (.55 of an acre) of land, or over half an acre of Commercial land, 1 block from the Plaza. This property provides a highly coveted, covered land play for future major mixed-use development. The property is currently zoned Liberal Mixed-Use (MX1), which allows for the following Development Potential: Based on 2026 standards, a 24,000 sq ft lot typically supports the following:

  • Residential Density: You can build up to 125 units per acre. For a 24,000 sq ft lot (~0.55 acres), this translates to approximately 68 residential units.

    • Note: If your lot is within the Central Business District (CBD) or North/South Industrial Mixed-Use Districts, there may be no density limits on the number of units. You may be able to obtain a higher density by designating this property (which is directly across the street from MX2 Zoning) to obtain more density.

  • Floor Area Ratio (FAR): The total building size is controlled by the FAR, which varies by specific location and future land use designation.

    • Pro Tip: Under the Live Local Act, you may qualify to build up to 150% of the maximum allowed FAR if at least 40% of the units are designated as affordable housing.

  • Building Height: MX1 is generally intended for low-rise intensity. However, height limits are often site-specific or determined by the Comprehensive Plan.

  • Lot Coverage: If you develop under the MXD overlay (which requires a minimum of 20,000 sq ft), there is no minimum or maximum lot coverage requirement, giving you significant design flexibility.

  • Key Requirements & Incentives: Use Mix: No single use (e.g., just residential or just office) can exceed 85% of the total floor area unless located in specific transit-oriented overlays. Mediterranean Design: Most projects in Coral Gables require adherence to the Mediterranean Style Bonus program, which can grant additional height or intensity for high-quality architectural design. Open Space: You must provide landscaped open space at the ground level that is accessible and visible to the public.

    • Setbacks: Standard mandates include ground-level setbacks of 10 feet on major roads like Douglas and LeJeune, and 20 feet on US-1.

    • For a 24,000 sq ft site, your next step should be a Conditional Use Review, as multifamily residential in this zone typically requires public hearing approval.

1. Central Business District (CBD)

  • The CBD allows for unlimited residential density and serves as the city's functional center.

2. Rapid Transit Zone (RTZ) & Overlays

  • These areas bypass certain local restrictions to encourage high-density growth near Metrorail stations.

  • For more information, please see link: www.ordinancewatch.com

3. MX1 Specific Height & Floor Limits

  • In the MX1 district, building height is typically capped, but can be extended through the Mediterranean Style Bonus:

  • Standard Height: Roughly 45–50 feet (4 stories).

    • Bonus 1: Up to 63.5 feet (5 stories) for high-quality Mediterranean architectural design.

    • Bonus 2: Up to 77 feet (6 stories) for additional community benefits or superior design.

Listing Contacts

MC
FL 0479698
Manny Chamizo #1 Sotheby’s Commercial Broker
Listed by Manny Chamizo #1 Sotheby’s Commercial Broker

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--

Valuation Metrics

0
DSCR
--
Cap Rate
--
ROI

Map

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Similar Properties

View All

Additional Information

Name
Manny Chamizo
License
0479698
Brokerage Phone
7864531371
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591