Medical Office Condo
1627 SW 37th Avenue #CU1 Miami, FL 33145
1627 SW 37th Avenue #CU1, Miami, FL, 33145
$499,900
For Sale
$499,900
Mint-condition interior with private restroom, secure storage/coat closet, and central A/C in a leased office condo suite.
Property Size1,107 SF
Price / SF$451.58
Days on Market44
Property Features for 1627 SW 37th Avenue #CU1
General Information
- Standard status
- Active
- Size
- 1,107 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2004
Listing agency
MJ ESTATES, INC.
(305) 984-8693
Listed by
MAURICIO M JALIL · License #A12028876
Source
Corcoran
Added: Jun 9 Updated: Jul 21 at 3:30PM Checked: Jul 22 at 9:12AM
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 MJ ESTATES, INC.
Investment Insights
Based on property information with market context.
This Coral Gables office condo suite is offered for sale in mint condition, with a bright, efficient interior layout designed for professional, medical, or creative use. The space includes a spacious private inside restroom and a secure storage/coat closet, along with central A/C and well-kept common areas, supported by low operating costs.
The unit is located at 1627 SW 37th Avenue #CU1 (Douglas Rd / SW 37 Ave), on the east side near SW 16 St. The suite is currently leased through December 2026 to an existing tenant, providing a gross annual income of $45,084 with very low expenses and no management efforts required by the seller. Seller may finance.
Parking is flexible, with owners able to rent 1–2 dedicated spaces only if available. Guest parking accommodates up to 3 client vehicles at a time, and additional 20-minute parking is located directly in front of the unit, with ample metered and street parking across the street.
The unit is located at 1627 SW 37th Avenue #CU1 (Douglas Rd / SW 37 Ave), on the east side near SW 16 St. The suite is currently leased through December 2026 to an existing tenant, providing a gross annual income of $45,084 with very low expenses and no management efforts required by the seller. Seller may finance.
Parking is flexible, with owners able to rent 1–2 dedicated spaces only if available. Guest parking accommodates up to 3 client vehicles at a time, and additional 20-minute parking is located directly in front of the unit, with ample metered and street parking across the street.
Key Highlights
- 2004‑built retail/office condo with over 1,100 SF on the east side of Douglas Rd (SW 37 Ave) near SW 16 St
- Currently leased through December 2026, generating $45,084 gross annual income with very low expenses and no management efforts required
- Offered at a 6% CAP rate with annual increases
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.8k | $45.00 |
| − Vacancy | −$7.5k | −$6.75 |
| EGI | $42.3k | $38.25 |
| − OpEx | −$10.6k | −$9.56 |
| NOI | $31.8k | $28.69 |
1,107 SF · lease $45.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$453.7K
$397.0K – $529.3K
NOI $31,757 @ 7.0% cap · market cap 6.35%
Second Best
Healthcare Medical
$261.9K
$229.2K – $305.5K
NOI $18,332 @ 7.0% cap · market cap 3.67%
Theoretical Best
Specialty Retail
$747.2K
$653.8K – $871.8K
NOI $52,306 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
DSoftLabs
(Bike/Boat/Book/etc) Store
AFL International Consulting ...
(Bike/Boat/Book/etc) Store
Gables View Condominium ...
Condominium Complex
ACA Property Management
Property Management Company
MJ Estates
Property Management Company
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Mint-condition interior with private restroom, secure storage/coat closet, and central A/C in a leased office condo suite.
Where is this office units located?
The property is located at 1627 SW 37th Avenue #CU1 Miami, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2004‑built retail/office condo with over 1,100 SF on the east side of Douglas Rd (SW 37 Ave) near SW 16 St; Currently leased through December 2026, generating $45,084 gross annual income with very low expenses and no management efforts required; Offered at a 6% CAP rate with annual increases
