Pre-Construction Medical Office
For Sale
$589,900
21291 NE 28th Avenue #713, Aventura, FL 33180
Planned medical office space with full-height windows and assigned covered parking.
Property Size636 SF
Days on Market51
Property Features for 21291 NE 28th Avenue #713
General Information
Standard status
Active
Size
636 SF
Class
Class A
Total Parking Spaces
1
Taxes and HOA fees
Annual Taxes
$6,900
Amenities
floor-to-ceiling windows
Building Details
Building Size
636 SF
Stories
7
Listing Agency:
Fortune Christie's International Real Estate
Listed By:
Cesar Youkhadar · License #3123913
(305) 302-2894
Source:
Laerrealty
Added: Aug 1
Changed: Sep 13
Last Checked: Sep 20 at 5:46AM
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 Fortune Christie's International Real Estate
Investment Insights
Based on property information with market context.
This pre-construction medical office property is planned with floor-to-ceiling windows and assigned covered parking. The stated square footage will include the Common Area Factor (CAF), providing a consistent basis for evaluating the planned space. Estimated completion is scheduled for Q1 2029.
The property is located at 21291 NE 28th Avenue, #713, in Aventura’s Medical District, steps from Aventura Hospital. Aventura Mall and Gulfstream Park are also identified as nearby destinations.
The property is located at 21291 NE 28th Avenue, #713, in Aventura’s Medical District, steps from Aventura Hospital. Aventura Mall and Gulfstream Park are also identified as nearby destinations.
Key Highlights
- Pre‑construction medical office space with estimated completion in Q1 2029
- Floor‑to‑ceiling windows planned throughout the property
- Assigned covered parking included
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
$16,857
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
2.86%
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%
$337,140
$337.1K
Cap Rate 7%
$240,814
$240.8K
Cap Rate 9%
$187,300
$187.3K
Market Conditions
NOI Build-Up for 636 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
$29.0K $45.60/SF
− Vacancy
−$6.5K −$10.26/SF
EGI
$22.5K $35.34/SF
− OpEx
−$5.6K −$8.84/SF
NOI
$16.9K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$337,140
Cap Rate 7%
$240,814
Cap Rate 9%
$187,300
Alternative Uses
Best Use
Office B
$240.8K
$210.7K – $281.0K
NOI $16,857 @ 7.0% cap · market cap 2.86%
Second Best
Healthcare Medical
$119.7K
$104.8K – $139.7K
NOI $8,380 @ 7.0% cap · market cap 1.42%
Theoretical Best
Office A
$322.7K
$282.3K – $376.5K
NOI $22,587 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33180, FL
35,062
Population
21,112
Households
1.7
Avg Household Size
45
Median Age
55%
College-Educated
95%
High-School Grad
3.3 sq mi
ZIP Area
10,625
Density / Sq Mi
$88,613
Median Household Income
$51,612
Median Earnings
$2,480
Median Rent
$471,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Planned medical office space with full-height windows and assigned covered parking.
Where is this medical office space located?
The property is located at 21291 NE 28th Avenue #713 Aventura, FL.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Pre‑construction medical office space with estimated completion in Q1 2029; Floor‑to‑ceiling windows planned throughout the property; Assigned covered parking included
