Medical Office
For Sale
$510,000
8525 SW 92nd St 11b, Miami, FL 33156
Updated office suite within a single-story professional center near Baptist Hospital, featuring reception, administrative office, and private restroom.
Property Size650 SF
Price / SF$784.62
Days on Market25
Property Features for 8525 SW 92nd St 11b
General Information
Standard status
Active
Size
650 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1981
Stories
1
Listing Agency:
First Step Realty Group
(305) 297-0944
Listed By:
Nicholas Cruz · License #3469256
Source:
Mymiahomes
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 21 at 11:44AM
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 medical office suite in Oak Plaza Professional Center includes a functional layout with two room suites, a reception and waiting area, an administrative office, and a private restroom. The configuration is designed to support day-to-day patient or client service while maintaining dedicated workspace.
Located about 0.3 miles from Baptist Hospital, the single-story professional complex offers direct client access without elevators or stairs. Ample on-site parking and valet services are available for visitors.
The suite is positioned within an established professional corridor with access to major thoroughfares including US-1, SR-874 (Don Shula Expressway), SR-826 (Palmetto Expressway), and the Florida Turnpike.
Located about 0.3 miles from Baptist Hospital, the single-story professional complex offers direct client access without elevators or stairs. Ample on-site parking and valet services are available for visitors.
The suite is positioned within an established professional corridor with access to major thoroughfares including US-1, SR-874 (Don Shula Expressway), SR-826 (Palmetto Expressway), and the Florida Turnpike.
Key Highlights
- Updated office/medical suite in a single‑story professional complex built in 1981
- Functional layout includes two room suites plus a reception/waiting area and an administrative office
- Private restroom included within the suite
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
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 within a single-story professional center near Baptist Hospital, featuring reception, administrative office, and private restroom.
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 suite in a single‑story professional complex built in 1981; Functional layout includes two room suites plus a reception/waiting area and an administrative office; Private restroom included within the suite
