Medical Office Space with Long-Term
For Sale
$3,200,000
1119 SW 1st Street, Miami, FL 33130
Established medical office property occupied under a long-term lease arrangement.
Property Size7,140 SF
Days on Market55
Property Features for 1119 SW 1st Street
General Information
Standard status
Active
Size
7,140 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$42,000
Building Details
Building Size
7,140 SF
Year Built
1946
Tenancy
Single
Listing Agency:
Big Box Broker LLC
Listed By:
Charles D Silver · License #674584
(561) 376-0104
Source:
Miamibrokersgroup
Added: Aug 22
Changed: Oct 13
Last Checked: Oct 15 at 6:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Big Box Broker LLC
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Investment Insights
Based on property information with market context.
This medical office property was built in 1946 and is currently occupied by a medical tenant under a long-term lease. The asset is located at 1119 SW 1st Street in Miami, Florida and carries zoning designation 6110.
Key Highlights
- Medical office space occupied by a medical tenant
- Long‑term lease in place
- Built in 1946
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$204,829
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,096,580
$4.1M
Cap Rate 7%
$2,926,129
$2.9M
Cap Rate 9%
$2,275,878
$2.3M
Market Conditions
NOI Build-Up for 7,140 SF
Gross rent
$321.3K $45.00/SF
− Vacancy
−$48.2K −$6.75/SF
EGI
$273.1K $38.25/SF
− OpEx
−$68.3K −$9.56/SF
NOI
$204.8K $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 Rate 5%
$4,096,580
Cap Rate 7%
$2,926,129
Cap Rate 9%
$2,275,878
Alternative Uses
Best Use
Office B
$2.93M
$2.56M – $3.41M
NOI $204,829 @ 7.0% cap · market cap 6.40%
Second Best
Healthcare Medical
$1.69M
$1.48M – $1.97M
NOI $118,238 @ 7.0% cap · market cap 3.69%
Theoretical Best
Specialty Retail
$4.82M
$4.22M – $5.62M
NOI $337,368 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,098
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Established medical office property occupied under a long-term lease arrangement.
Where is this medical office space located?
The property is located at 1119 SW 1st Street Miami, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Medical office space occupied by a medical tenant; Long‑term lease in place; Built in 1946
