Licensed Assisted Living
For Sale
$1,000,000
9760 Memorial Rd, Cutler Bay, FL 33157
Commercial Sale, Cutler Bay, FL
Property Size1,647 SF
Lot Size0.20 Acres
Price / SF$607.16
Days on Market18
Property Features for 9760 Memorial Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0100
Subdivision
60
Standard status
Active
APN
36-60-04-010-0020
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
PINE TREE MANOR SEC 3 PB 65-97 LOT 2 BLK 10 LOT SIZE 78.000 X 110 F/A/U 30-6004-010-0020 COC 24260-4228 12 2005 1
Legal Description
PINE TREE MANOR SEC 3 PB 65-97 LOT 2 BLK 10 LOT SIZE 78.000 X 110 F/A/U 30-6004-010-0020 COC 24260-4228 12 2005 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Flooring type
Tile - Ceramic
Building materials
Block
Listing Agency:
Canvas Real Estate
(954) 332-7121
Listed By:
Heriberto Rios · License #3304847
(954) 646-3222
Added: Aug 13
Changed: Aug 19
Last Checked: Aug 30 at 8:06AM
MLS# A12017365
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This assisted living facility occupies a 1,647-square-foot residence on an 8,525-square-foot lot in Cutler Bay. The property has operated continuously since 2019 and includes six beds, a transferable current license, and resident contracts that remain in place at closing. Tile flooring, central heating, and central air serve the interior, while block construction supports the building envelope.
Recent property improvements include impact-resistant windows, a new roof, and a backup generator. Public water and public sewer serve the site. The facility is located at 9760 Memorial Rd in Cutler Bay, Miami-Dade County, Florida, within ZIP Code 33157. The operation is reported at full occupancy, with additional resident services included in the established business model.
Recent property improvements include impact-resistant windows, a new roof, and a backup generator. Public water and public sewer serve the site. The facility is located at 9760 Memorial Rd in Cutler Bay, Miami-Dade County, Florida, within ZIP Code 33157. The operation is reported at full occupancy, with additional resident services included in the established business model.
Key Highlights
- Six‑bed assisted living facility with a current transferable license
- 1,647 sq. ft. residence on an 8,525 sq. ft. lot
- Continuous operation since 2019 with resident contracts remaining at closing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,360
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$607,200
$607.2K
Cap Rate 7%
$433,714
$433.7K
Cap Rate 9%
$337,333
$337.3K
Market Conditions
NOI Build-Up for 1,647 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.1K $35.28/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$55.2K $33.52/SF
− OpEx
−$24.8K −$15.08/SF
NOI
$30.4K $18.43/SF
Area
ZIP 33157
Vacancy
5.00%
Lease Rate
$35.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$607,200
Cap Rate 7%
$433,714
Cap Rate 9%
$337,333
Alternative Uses
Best Use
Apartment 5plus
$433.7K
$379.5K – $506.0K
NOI $30,360 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$835.6K
$731.1K – $974.9K
NOI $58,491 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33157, FL
68,069
Population
23,176
Households
2.9
Avg Household Size
42
Median Age
33%
College-Educated
86%
High-School Grad
14.9 sq mi
ZIP Area
4,568
Density / Sq Mi
$80,364
Median Household Income
$38,803
Median Earnings
$1,493
Median Rent
$478,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Operating care residence with transferable licensing, resident agreements, and updated safety infrastructure.
Where is this assisted living facility located?
The property is located at 9760 Memorial Rd Cutler Bay, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Six‑bed assisted living facility with a current transferable license; 1,647 sq. ft. residence on an 8,525 sq. ft. lot; Continuous operation since 2019 with resident contracts remaining at closing
