Updated Medical Office
For Sale
$510,000
8525 SW 92nd St 11B, Miami, FL 33156
Updated office suite with a reception area, administrative office, private restroom, and two private room offices.
Property Size650 SF
Days on Market50
Property Features for 8525 SW 92nd St 11B
General Information
Standard status
Active
Size
650 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Building Size
650 SF
Year Built
1981
Stories
1
Listing Agency:
First Step Realty Group
(305) 297-0944
Listed By:
Nicholas Cruz · License #3469256
(305) 297-0944
Source:
Elliman
Added: Jun 25
Changed: Aug 10
Last Checked: Aug 13 at 10:46AM
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 First Step Realty Group
Investment Insights
Based on property information with market context.
This updated professional suite is located in Oak Plaza Professional Center and is designed for day-to-day patient and client traffic. The interior configuration includes two room suites, a reception or waiting area, an administrative office, and a private restroom. The single-story setting supports straightforward access without elevators or stairs.
The property is about 0.3 miles from Baptist Hospital, placing it within an established professional corridor surrounded by medical providers, professional offices, and retail amenities. The center is described as offering convenient access to major thoroughfares, including US-1, SR-874 (Don Shula Expressway), SR-826 (Palmetto Expressway), and the Florida Turnpike. On-site parking and valet services are available for visitors.
With its reception/waiting area and separate private offices, the suite is well suited to owner-users or professional operators looking for a centrally located office or medical office environment. The layout supports consultations and administrative functions in a compact footprint, while the private restroom adds practical in-suite convenience. The overall design of the single-story complex helps streamline client access for both routine visits and scheduled appointments.
The property is about 0.3 miles from Baptist Hospital, placing it within an established professional corridor surrounded by medical providers, professional offices, and retail amenities. The center is described as offering convenient access to major thoroughfares, including US-1, SR-874 (Don Shula Expressway), SR-826 (Palmetto Expressway), and the Florida Turnpike. On-site parking and valet services are available for visitors.
With its reception/waiting area and separate private offices, the suite is well suited to owner-users or professional operators looking for a centrally located office or medical office environment. The layout supports consultations and administrative functions in a compact footprint, while the private restroom adds practical in-suite convenience. The overall design of the single-story complex helps streamline client access for both routine visits and scheduled appointments.
Key Highlights
- Updated office/medical office suite in Oak Plaza Professional Center (single‑story complex).
- Functional layout includes reception/waiting area, administrative office, private restroom, and two private room offices.
- Located 0.3 miles from Baptist Hospital.
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
$18,647
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
3.66%
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%
$372,940
$372.9K
Cap Rate 7%
$266,386
$266.4K
Cap Rate 9%
$207,189
$207.2K
Market Conditions
NOI Build-Up for 650 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
$29.3K $45.00/SF
− Vacancy
−$4.4K −$6.75/SF
EGI
$24.9K $38.25/SF
− OpEx
−$6.2K −$9.56/SF
NOI
$18.6K $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%
$372,940
Cap Rate 7%
$266,386
Cap Rate 9%
$207,189
Alternative Uses
Best Use
Office B
$266.4K
$233.1K – $310.8K
NOI $18,647 @ 7.0% cap · market cap 3.66%
Second Best
Healthcare Medical
$153.8K
$134.6K – $179.4K
NOI $10,764 @ 7.0% cap · market cap 2.11%
Theoretical Best
Specialty Retail
$438.8K
$383.9K – $511.9K
NOI $30,713 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,041
Businesses Nearby
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?
Office units - Updated office suite with a reception area, administrative office, private restroom, and two private room offices.
Where is this office units located?
The property is located at 8525 SW 92nd St 11B Miami, FL.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Updated office/medical office suite in Oak Plaza Professional Center (single‑story complex).; Functional layout includes reception/waiting area, administrative office, private restroom, and two private room offices.; Located 0.3 miles from Baptist Hospital.
