Office Condominium with Private
For Sale
$620,000
285-13500 Sw 88th St, Miami, FL 33138
Second-floor suite offers elevator access, private rooms, on-site parking, and round-the-clock building entry.
Property Size1,399 SF
Price / SF$443.17
Days on Market9
Property Features for 285-13500 Sw 88th St
General Information
Standard status
Active
Size
1,399 SF
Elevators
Yes
Additional Details
Floor
2
Highway Access
Yes
Amenities
24/7 building access
Listing Agency:
Miami Premier Realty
(786) 268-1961
Listed By:
Marisol B Tain · License #3301499
(305) 924-0924
Source:
Exprealty
Added: Aug 25
Changed: Aug 31
Last Checked: Sep 1 at 11:28PM
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 Miami Premier Realty
Investment Insights
Based on property information with market context.
This 1,399 SF second-floor office condominium includes five separate private offices and one bathroom within the suite. Elevator service provides access to the floor, while 24/7 building entry supports flexible operating schedules. The property is described as move-in ready and includes ample parking for employees and clients.
Located at 285-13500 SW 88th St in Miami’s Kendall West area, the office sits across from a commercial plaza and near major highways. Shopping, dining, and surrounding business areas are also identified in the immediate context. The layout and existing improvements provide a dedicated professional workspace for an owner-user, including medical professionals, CPAs, attorneys, and other professional businesses.
Located at 285-13500 SW 88th St in Miami’s Kendall West area, the office sits across from a commercial plaza and near major highways. Shopping, dining, and surrounding business areas are also identified in the immediate context. The layout and existing improvements provide a dedicated professional workspace for an owner-user, including medical professionals, CPAs, attorneys, and other professional businesses.
Key Highlights
- 1, 399 SF second‑floor office condominium
- Five separate private offices and one bathroom within the unit
- Elevator access to the second‑floor suite
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
$40,134
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
6.47%
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%
$802,680
$802.7K
Cap Rate 7%
$573,343
$573.3K
Cap Rate 9%
$445,933
$445.9K
Market Conditions
NOI Build-Up for 1,399 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
$63.0K $45.00/SF
− Vacancy
−$9.4K −$6.75/SF
EGI
$53.5K $38.25/SF
− OpEx
−$13.4K −$9.56/SF
NOI
$40.1K $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%
$802,680
Cap Rate 7%
$573,343
Cap Rate 9%
$445,933
Alternative Uses
Best Use
Office B
$573.3K
$501.7K – $668.9K
NOI $40,134 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$944.3K
$826.3K – $1.10M
NOI $66,103 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,947
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
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?
Office units - Second-floor suite offers elevator access, private rooms, on-site parking, and round-the-clock building entry.
Where is this office units located?
The property is located at 285-13500 Sw 88th St Miami, FL.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 1, 399 SF second‑floor office condominium; Five separate private offices and one bathroom within the unit; Elevator access to the second‑floor suite
