Building Details

Buildings 1

Stories 2

Building Size 7,680 SF

Listing Agency: One Sotheby's International Realty M**@onesothebysrealty.com Show Phone

Listed By: Rafael Arias · License #0607359 Show Phone

Source: Exprealty

Added: Aug 20 Changed: Nov 1 Last Checked: Nov 3 at 8:54AM

Report an Issue

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 One Sotheby's International Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This two-story medical office property contains 7,680 square feet on a 6,672-square-foot site. Its current buildout serves medical office use, and the property may also accommodate other business uses.

The building fronts Coral Way, less than half a mile from the intersection with 32nd Avenue. The street carries approximately 34,000 vehicles per day.

Key Highlights

• 7,680‑square‑foot medical office building
• Two‑story building on a 6,672‑square‑foot site
• Frontage on Coral Way, less than half a mile from its intersection with 32nd Avenue

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$203,558

Cap Rate

5.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,071,160 $4.1M

Cap Rate 7%

$2,907,971 $2.9M

Cap Rate 9%

$2,261,756 $2.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,680 SF

Gross rent

$350.2K $45.60/SF

− Vacancy

−$78.8K −$10.26/SF

EGI

$271.4K $35.34/SF

− OpEx

−$67.9K −$8.84/SF

NOI

$203.6K $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 Rate 5%

$4,071,160

Cap Rate 7%

$2,907,971

Cap Rate 9%

$2,261,756

Alternative Uses

Best Use

Office B

$2.91M

$2.54M – $3.39M (±1% cap)

NOI $203,558 @ 7.0% cap · market cap 5.58%

Second Best

Healthcare Medical

$1.45M

$1.26M – $1.69M (±1% cap)

NOI $101,192 @ 7.0% cap · market cap 2.77%

Theoretical Best

Office A

$3.90M

$3.41M – $4.55M (±1% cap)

NOI $272,747 @ 7.0% cap · market cap 7.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Restaurant Catering Service Butcher Tanning Salon (Bike/Boat/Book/etc) Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

2,423

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 33145, FL

29,737

Population

12,773

Households

2.3

Avg Household Size

44

Median Age

42%

College-Educated

85%

High-School Grad

2.5 sq mi

ZIP Area

11,895

Density / Sq Mi

$70,592

Median Household Income

$43,039

Median Earnings

$1,769

Median Rent

$560,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Similar For Sale Nearby

See more

Coral Gables Office Building

113 Almeria Ave, Coral Gables, FL 33134

$7,995,000

8,200 SF

View details

Two-Story Office Building

355 Palermo Ave, Coral Gables, FL 33134

$3,700,000

0.06 Acres

View details

Coral Gables Office Building

4070 Laguna St, Coral Gables, FL 33146

$7,900,000

9,700 SF

View details

Freestanding Office Building in Coral Gables

133 Sevilla Avenue, Coral Gables, FL 33134

Contact for pricing

7,957 SF

View details

Freestanding Office Building

45 Valencia Ave, Coral Gables, FL 33134

$4,100,000

2,644 SF

View details

First-Floor Medical Office Suite

801 Monterey St # 103, Coral Gables, FL 33134

Contact for pricing

8,560 SF

View details

Luxury Coral Gables Penthouse Office

2020 Ponce De Leon Blvd PH-A1, Coral Gables, FL 33134

$17,500,000

12,576 SF

View details

Medical Office Suite with Procedure Rooms

555 Biltmore Way 205, Coral Gables, FL 33134

$1,500,000

15,000 SF

View details

Free-Standing Office Building with Parking

815 Ponce De Leon Blvd, Coral Gables, FL 33134

Contact for pricing

View details

Office Building with Executive Offices

267 MINORCA AV # 100, Coral Gables, FL 33134

Contact for pricing

10,376 SF

View details

Class A Office Building Reception

267 MINORCA AV 100, Coral Gables, FL 33134

Contact for pricing

View details

Turnkey Professional Office Building

35 Almeria Ave, Coral Gables, FL 33134

$1,999,000

2,025 SF

View details

Similar Off Market Nearby

• Vet Wellcare Vaccinations Clinic at Pet Supermarket — 2720 S Dixie Hwy Ste A, Miami, FL 33133
• Grove Animal Hospital — 2803 SW 27th Ave, Miami, FL 33133
• AWS Animal Hospital - Animal Welfare Society of South Florida — 2601 SW 27th Ave, Miami, FL 33133
• Clinica bajos recurdos animal — 2601 SW 27th Ave, Miami, FL 33133
• Silver Bluff Animal Clinic — 2515 SW 27th Ave, Miami, FL 33133

Frequently Asked Questions

What type of property is this?

Medical Office Space - The existing interior is configured for medical office operations, with potential for other business uses.

Where is this medical office space located?

The property is located at 2971 Coral Way Coral Gables, FL.

What is the asking price?

The asking price for this property is $3,650,000.

What are key features of this property?

This property features: 7,680‑square‑foot medical office building; Two‑story building on a 6,672‑square‑foot site; Frontage on Coral Way, less than half a mile from its intersection with 32nd Avenue