Corner Medical Office
For Sale
$1,400,000
201-8501 Sw 124th Ave, Miami, FL 33184
Professional suite with private offices, reception, conference space, and a flexible open work area.
Property Size2,190 SF
Price / SF$639.27
Days on Market245
Property Features for 201-8501 Sw 124th Ave
General Information
Standard status
Active
Size
2,190 SF
Class
Class A
Total Parking Spaces
3
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$14,807
Amenities
elegant lobby
covered entrance
Listing Agency:
Compass Florida, LLC
(786) 399-9278
Listed By:
Jorge Lopez · License #3247936
(786) 399-9278
Source:
Exprealty
Added: Dec 29, 2025
Changed: Aug 29
Last Checked: Aug 30 at 8:00PM
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 corner medical office suite at The Professional Arts Center at Kendall Village provides 2,190 square feet of organized professional workspace. The layout includes a reception area, three private offices, an executive office, a conference room, an open work area, lunch room, utility and IT space, and additional storage. A covered building entrance supports patient and client drop-off, while three assigned parking spaces are included with the suite.
The property is positioned immediately off Kendall Drive, also identified as SW 88th Street. Access to the Turnpike and Palmetto, or SR-826, is nearby, and a shopping center with restaurants is in the surrounding area. The building features an elegant lobby and additional parking beyond the assigned spaces.
The property is positioned immediately off Kendall Drive, also identified as SW 88th Street. Access to the Turnpike and Palmetto, or SR-826, is nearby, and a shopping center with restaurants is in the surrounding area. The building features an elegant lobby and additional parking beyond the assigned spaces.
Key Highlights
- 2,190 SF medical office suite at The Professional Arts Center at Kendall Village
- Three private offices plus a large executive office
- Reception, conference room, open work area, lunch room, utility/IT space, and extra storage
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
$62,826
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
4.49%
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%
$1,256,520
$1.3M
Cap Rate 7%
$897,514
$897.5K
Cap Rate 9%
$698,067
$698.1K
Market Conditions
NOI Build-Up for 2,190 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
$98.6K $45.00/SF
− Vacancy
−$14.8K −$6.75/SF
EGI
$83.8K $38.25/SF
− OpEx
−$20.9K −$9.56/SF
NOI
$62.8K $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%
$1,256,520
Cap Rate 7%
$897,514
Cap Rate 9%
$698,067
Alternative Uses
Best Use
Office B
$897.5K
$785.3K – $1.05M
NOI $62,826 @ 7.0% cap · market cap 4.49%
Second Best
Healthcare Medical
$518.1K
$453.3K – $604.4K
NOI $36,266 @ 7.0% cap · market cap 2.59%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,478 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
718
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33184, FL
20,913
Population
6,773
Households
3.1
Avg Household Size
47
Median Age
33%
College-Educated
75%
High-School Grad
2.5 sq mi
ZIP Area
8,365
Density / Sq Mi
$77,443
Median Household Income
$36,361
Median Earnings
$1,926
Median Rent
$418,200
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 - Professional suite with private offices, reception, conference space, and a flexible open work area.
Where is this medical office space located?
The property is located at 201-8501 Sw 124th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 2,190 SF medical office suite at The Professional Arts Center at Kendall Village; Three private offices plus a large executive office; Reception, conference room, open work area, lunch room, utility/IT space, and extra storage
