Medical Office Suite with Procedure
For Sale
$1,500,000
205-555 Biltmore Way, Coral Gables, FL 33134
Existing clinical buildout offers flexible room configuration, patient areas, private restrooms, and dedicated parking.
Property Size2,063 SF
Price / SF$727.10
Days on Market28
Property Features for 205-555 Biltmore Way
General Information
Standard status
Active
Size
2,063 SF
Total Parking Spaces
6
Listing Agency:
BHHS EWM Realty
(305) 904-9890
Listed By:
Adriana Verdeja-Arango · License #3513336
(305) 904-9890
Source:
Exprealty
Added: Jul 17
Changed: Aug 13
Last Checked: Aug 13 at 4:07AM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This 2,063 SF medical office suite is located within an established medical building at 205-555 Biltmore Way in Coral Gables. The existing layout includes seven procedure rooms, each with a sink, with two rooms equipped for 220V service. The space also provides three file rooms that may serve as offices, an IT room, copy room, reception and waiting areas, two in-suite bathrooms, a laundry closet, and an eat-in kitchen area.
Parking includes three reserved spaces beneath the building, three additional spaces in an adjacent lot, and metered street parking for visitors. Association approval is required.
Parking includes three reserved spaces beneath the building, three additional spaces in an adjacent lot, and metered street parking for visitors. Association approval is required.
Key Highlights
- 2,063 SF medical office suite in an established medical building
- Seven procedure rooms with sinks; two include 220V service
- Three file rooms that can be used as offices
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
$54,680
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
3.65%
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%
$1,093,600
$1.1M
Cap Rate 7%
$781,143
$781.1K
Cap Rate 9%
$607,556
$607.6K
Market Conditions
NOI Build-Up for 2,063 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
$94.1K $45.60/SF
− Vacancy
−$21.2K −$10.26/SF
EGI
$72.9K $35.34/SF
− OpEx
−$18.2K −$8.84/SF
NOI
$54.7K $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%
$1,093,600
Cap Rate 7%
$781,143
Cap Rate 9%
$607,556
Alternative Uses
Best Use
Office B
$781.1K
$683.5K – $911.3K
NOI $54,680 @ 7.0% cap · market cap 3.65%
Second Best
Healthcare Medical
$388.3K
$339.8K – $453.0K
NOI $27,182 @ 7.0% cap · market cap 1.81%
Theoretical Best
Office A
$1.05M
$915.8K – $1.22M
NOI $73,265 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,336
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical buildout offers flexible room configuration, patient areas, private restrooms, and dedicated parking.
Where is this medical office space located?
The property is located at 205-555 Biltmore Way Coral Gables, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2,063 SF medical office suite in an established medical building; Seven procedure rooms with sinks; two include 220V service; Three file rooms that can be used as offices
