Corner Medical Office
For Sale
$1,650,000
7765 SW 87th Ave 212a, Miami, FL 33173
Professionally configured space supports established medical practices with patient, clinical, administrative, and staff areas.
Property Size2,570 SF
Price / SF$642.02
Days on Market27
Property Features for 7765 SW 87th Ave 212a
General Information
Standard status
Active
Size
2,570 SF
Total Parking Spaces
10
Additional Details
Floor
2
Office Units
1
Amenities
balcony
Building Details
Year Built
1996
Listing Agency:
Compass Florida, LLC
(305) 661-4003
Listed By:
Audrey Ross · License #3391913
Source:
Mymiahomes
Added: Aug 2
Changed: Aug 8
Last Checked: Aug 28 at 12:44PM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This 2,570-square-foot medical office condominium occupies a second-floor corner position at Galloway Professional Park. Built in 1996, the suite is arranged for clinical operations with seven exam rooms, an operating room, a physician office with balcony, a substantial waiting area, two scheduling rooms, reception and administrative spaces, and a doctor’s lounge. Public and private entrances support separate patient and staff circulation.
The property is located at 7765 SW 87th Ave in Miami, within 12 blocks of Baptist Hospital and near South Miami Hospital. Parking includes nine assigned spaces, one assigned covered space, and additional unassigned overflow parking. The configuration and existing medical improvements provide a specialized setting for an operating practice or medical office user.
The property is located at 7765 SW 87th Ave in Miami, within 12 blocks of Baptist Hospital and near South Miami Hospital. Parking includes nine assigned spaces, one assigned covered space, and additional unassigned overflow parking. The configuration and existing medical improvements provide a specialized setting for an operating practice or medical office user.
Key Highlights
- 2,570‑square‑foot second‑floor corner medical office condominium
- Seven exam rooms and a dedicated operating room
- Physician office with balcony, two scheduling rooms, and doctor’s lounge
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
$73,727
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
4.47%
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%
$1,474,540
$1.5M
Cap Rate 7%
$1,053,243
$1.1M
Cap Rate 9%
$819,189
$819.2K
Market Conditions
NOI Build-Up for 2,570 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
$115.7K $45.00/SF
− Vacancy
−$17.3K −$6.75/SF
EGI
$98.3K $38.25/SF
− OpEx
−$24.6K −$9.56/SF
NOI
$73.7K $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%
$1,474,540
Cap Rate 7%
$1,053,243
Cap Rate 9%
$819,189
Alternative Uses
Best Use
Office B
$1.05M
$921.6K – $1.23M
NOI $73,727 @ 7.0% cap · market cap 4.47%
Second Best
Healthcare Medical
$608.0K
$532.0K – $709.3K
NOI $42,559 @ 7.0% cap · market cap 2.58%
Theoretical Best
Specialty Retail
$1.73M
$1.52M – $2.02M
NOI $121,434 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33173, FL
33,648
Population
12,237
Households
2.7
Avg Household Size
46
Median Age
42%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
6,118
Density / Sq Mi
$83,053
Median Household Income
$48,565
Median Earnings
$1,935
Median Rent
$460,500
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 - Professionally configured space supports established medical practices with patient, clinical, administrative, and staff areas.
Where is this medical office space located?
The property is located at 7765 SW 87th Ave 212a Miami, FL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 2,570‑square‑foot second‑floor corner medical office condominium; Seven exam rooms and a dedicated operating room; Physician office with balcony, two scheduling rooms, and doctor’s lounge
