Medical Office Space with Covered
For Sale
$8,586,900
21291 NE 28th Avenue Unit 517-528, Aventura, FL 33180
Pre-construction medical offices will include assigned covered parking and floor-to-ceiling windows.
Property Size9,459 SF
Price / SF$907.80
Days on Market17
Property Features for 21291 NE 28th Avenue Unit 517-528
General Information
Standard status
Active
Size
9,459 SF
Class
Class A
Property subtype
Office
Amenities
floor-to-ceiling windows
Building Details
Year Built
2029
Listing Agency:
Fortune Christie's International Real Estate
(305) 302-2894
Listed By:
Cesar Youkhadar · License #R11165434
(305) 302-2894
Source:
Lehmannflorida
Added: Aug 9
Changed: Aug 25
Last Checked: Aug 25 at 5:54AM
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 for delivery in Q1 2029 at 21291 NE 28th AV #517-528 in Aventura. The building will feature floor-to-ceiling windows, assigned covered parking, and office square footage calculated to include the Common Area Factor (CAF).
The property is located in the Aventura Medical District, steps from Aventura Hospital, with Aventura Mall and Gulfstream Park nearby.
The property is located in the Aventura Medical District, steps from Aventura Hospital, with Aventura Mall and Gulfstream Park nearby.
Key Highlights
- Estimated completion in Q1 2029
- Floor‑to‑ceiling windows planned
- 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
$250,711
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
2.92%
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%
$5,014,220
$5.0M
Cap Rate 7%
$3,581,586
$3.6M
Cap Rate 9%
$2,785,678
$2.8M
Market Conditions
NOI Build-Up for 9,459 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
$431.3K $45.60/SF
− Vacancy
−$97.0K −$10.26/SF
EGI
$334.3K $35.34/SF
− OpEx
−$83.6K −$8.84/SF
NOI
$250.7K $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%
$5,014,220
Cap Rate 7%
$3,581,586
Cap Rate 9%
$2,785,678
Alternative Uses
Best Use
Office B
$3.58M
$3.13M – $4.18M
NOI $250,711 @ 7.0% cap · market cap 2.92%
Second Best
Healthcare Medical
$1.78M
$1.56M – $2.08M
NOI $124,632 @ 7.0% cap · market cap 1.45%
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $335,926 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- VET Pharmaceuticals — 7429 Riviera Blvd, Miramar, FL 33023
Frequently Asked Questions
What type of property is this?
Medical Office Space - Pre-construction medical offices will include assigned covered parking and floor-to-ceiling windows.
Where is this medical office space located?
The property is located at 21291 NE 28th Avenue Unit 517-528 Aventura, FL.
What is the asking price?
The asking price for this property is $8,586,900.
What are key features of this property?
This property features: Estimated completion in Q1 2029; Floor‑to‑ceiling windows planned; Assigned covered parking included
