Fully Leased Medical
For Sale
$5,838,425
Miami, FL 33156, Miami, FL 33156
Commercial Sale, Miami, FL
Property Size8,053 SF
Lot Size0.02 Acres
Price / SF$725
Days on Market76
Property Features
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
6900
Subdivision
50
Standard status
Active
APN
30-50-03-042-0070
Lot size
0.02 Acres
Taxes and HOA fees
Tax Description
GALLOWAY PROF CENTER CONDO UNIT A-202 UNDIV 3.41 INT IN COMMON ELEMENTS OFF REC 12057-1 OR 15780-2900 0992 4
HOA Fee
$6,761 Monthly
Legal Description
GALLOWAY PROF CENTER CONDO UNIT A-202 UNDIV 3.41 INT IN COMMON ELEMENTS OFF REC 12057-1 OR 15780-2900 0992 4
Building Details
Year built
1983
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Daniel Fernandez · License #3596493
(305) 206-8490
Added: Jun 6
Changed: Aug 19
Last Checked: Aug 20 at 4:06PM
MLS# A11968094
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 medical office property in Miami, Florida, contains 8,053 SF and is fully leased. The 1983 building includes over 5 rooms along with a reception area, waiting area, administrative offices, and additional support space, providing a configuration tailored to medical office operations.
The property is located in Miami-Dade County within ZIP Code 33156 and is situated near Baptist Hospital of Miami. Its established medical-corridor setting places the facility within a healthcare-focused area of Miami. The existing layout combines patient-facing areas with administrative and support functions in a single medical office asset.
The property is located in Miami-Dade County within ZIP Code 33156 and is situated near Baptist Hospital of Miami. Its established medical-corridor setting places the facility within a healthcare-focused area of Miami. The existing layout combines patient-facing areas with administrative and support functions in a single medical office asset.
Key Highlights
- 8,053 SF medical office building
- Fully leased property
- Over 5 rooms plus reception and waiting areas
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
$231,020
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
3.96%
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%
$4,620,400
$4.6M
Cap Rate 7%
$3,300,286
$3.3M
Cap Rate 9%
$2,566,889
$2.6M
Market Conditions
NOI Build-Up for 8,053 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
$362.4K $45.00/SF
− Vacancy
−$54.4K −$6.75/SF
EGI
$308.0K $38.25/SF
− OpEx
−$77.0K −$9.56/SF
NOI
$231.0K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,620,400
Cap Rate 7%
$3,300,286
Cap Rate 9%
$2,566,889
Alternative Uses
Best Use
Office B
$3.30M
$2.89M – $3.85M
NOI $231,020 @ 7.0% cap · market cap 3.96%
Second Best
Healthcare Medical
$1.91M
$1.67M – $2.22M
NOI $133,358 @ 7.0% cap · market cap 2.28%
Theoretical Best
Specialty Retail
$5.44M
$4.76M – $6.34M
NOI $380,508 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33156, FL
34,036
Population
13,215
Households
2.6
Avg Household Size
42
Median Age
66%
College-Educated
97%
High-School Grad
13.9 sq mi
ZIP Area
2,449
Density / Sq Mi
$134,720
Median Household Income
$66,117
Median Earnings
$1,936
Median Rent
$1,063,100
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased healthcare facility with reception, waiting, administrative, and support areas.
Where is this medical office space located?
The property is located at Miami, FL.
What is the asking price?
The asking price for this property is $5,838,425.
What are key features of this property?
This property features: 8,053 SF medical office building; Fully leased property; Over 5 rooms plus reception and waiting areas
