Two-Story Medical Office
For Sale
$2,899,000
2971 Coral Way, Miami, FL 33145
Existing medical build-out supports healthcare operations and may accommodate other business uses.
Property Size7,680 SF
Lot Size0.15 Acres
Price / SF$434.50
Days on Market48
Property Features for 2971 Coral Way
General Information
Standard status
Active
Size
7,680 SF
Lot size
0.15 Acres
Property subtype
Commercial
Lease Term
[]
Site & Location
Road Access
Yes
Public Transit
Yes
Building Details
Year Built
1952
Buildings
1
Stories
2
Building Size
7,680 SF
Listing Agency:
One Sotheby's International Realty
Listed By:
Rafael Arias · License #0607359
(305) 538-9711
Source:
Onesothebysrealty
Added: Aug 21
Changed: Sep 22
Last Checked: Oct 5 at 8:46PM
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
Investment Insights
Based on property information with market context.
This two-story medical office property contains 7,680 SF of existing build-out on a 6,672 SF parcel. The building is currently configured for medical use, with a layout that may also support other business applications. Constructed in 1952, the property offers a dedicated commercial setting along Coral Way.
The site is positioned less than half a mile from the Coral Way and 32nd Avenue intersection, with reported exposure to about 34,000 cars daily. Walk Score is 92, Bike Score is 58, and Transit Score is 44, providing documented pedestrian, bicycle, and transit access characteristics.
The site is positioned less than half a mile from the Coral Way and 32nd Avenue intersection, with reported exposure to about 34,000 cars daily. Walk Score is 92, Bike Score is 58, and Transit Score is 44, providing documented pedestrian, bicycle, and transit access characteristics.
Key Highlights
- 7,680 SF two‑story medical office building
- Situated on a 6,672 SF parcel
- Frontage along Coral Way
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$191,403
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,828,060
$3.8M
Cap Rate 7%
$2,734,329
$2.7M
Cap Rate 9%
$2,126,700
$2.1M
Market Conditions
NOI Build-Up for 6,672 SF
Gross rent
$300.2K $45.00/SF
− Vacancy
−$45.0K −$6.75/SF
EGI
$255.2K $38.25/SF
− OpEx
−$63.8K −$9.56/SF
NOI
$191.4K $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 Rate 5%
$3,828,060
Cap Rate 7%
$2,734,329
Cap Rate 9%
$2,126,700
Alternative Uses
Best Use
Office B
$2.73M
$2.39M – $3.19M
NOI $191,403 @ 7.0% cap · market cap 6.60%
Second Best
Healthcare Medical
$1.58M
$1.38M – $1.84M
NOI $110,488 @ 7.0% cap · market cap 3.81%
Theoretical Best
Specialty Retail
$4.50M
$3.94M – $5.25M
NOI $315,255 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing medical build-out supports healthcare operations and may accommodate other business uses.
Where is this medical office space located?
The property is located at 2971 Coral Way Miami, FL.
What is the asking price?
The asking price for this property is $2,899,000.
What are key features of this property?
This property features: 7,680 SF two‑story medical office building; Situated on a 6,672 SF parcel; Frontage along Coral Way
