Medical Office
New
For Sale
Contact for pricing
3850 SW 87th Avenue Unit 305, Miami, FL 33165
The vacant unit includes a bathroom and additional parking on the adjoining lot.
Property Size21,496 SF
Price / SF$0.19
Days on Market5
Property Features for 3850 SW 87th Avenue Unit 305
General Information
Standard status
Active
Size
21,496 SF
Property subtype
Office
Building Details
Year Built
1990
Buildings
1
Listing Agency:
Century 21 BE3
(727) 596-1811
Listed By:
Rogert De Leon · License #A12090471
(305) 992-4503
Source:
Lehmannflorida
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 7:28AM
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 Century 21 BE3
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Investment Insights
Based on property information with market context.
This 926-usable-SF medical office suite was built in 1990 and includes a bathroom. The space previously served as a doctor’s office and is now vacant. A neighboring lot is part of the property and provides additional parking.
The suite occupies the corner of SW 87th Avenue and Bird Road in Miami. Citibank is next door, with La Carreta and US Century Bank across the street.
The suite occupies the corner of SW 87th Avenue and Bird Road in Miami. Citibank is next door, with La Carreta and US Century Bank across the street.
Key Highlights
- 926 usable SF with an included bathroom
- Former doctor’s office, now vacant
- Additional parking on the adjoining lot, which is part of the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$355,974
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,119,480
$7.1M
Cap Rate 7%
$5,085,343
$5.1M
Cap Rate 9%
$3,955,267
$4.0M
Market Conditions
NOI Build-Up for 21,496 SF
Gross rent
$644.9K $30.00/SF
− Vacancy
−$51.6K −$2.40/SF
EGI
$593.3K $27.60/SF
− OpEx
−$237.3K −$11.04/SF
NOI
$356.0K $16.56/SF
Area
Miami, FL
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,119,480
Cap Rate 7%
$5,085,343
Cap Rate 9%
$3,955,267
Alternative Uses
Best Use
Office B
$8.81M
$7.71M – $10.28M
NOI $616,667 @ 7.0% cap · market cap 15,416.68%
Second Best
Healthcare Medical
$5.09M
$4.45M – $5.93M
NOI $355,974 @ 7.0% cap · market cap 8,899.35%
Theoretical Best
Specialty Retail
$14.51M
$12.70M – $16.93M
NOI $1,015,696 @ 7.0% cap · market cap 25,392.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,214
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
Similar Off Market Nearby
- Gomara Animal Clinic — 9528 SW 40th St, Miami, FL 33165
- Southeast Veterinary Imaging — 9300 SW 40th St, Miami, FL 33165
- Southeast Veterinary Neurology — 9300 SW 40th St, Miami, FL 33165
- Pet Cancer Group — 8356 SW 40th St, Miami, FL 33155
- Animal Eye Guys (Miami Bird Road) — 8356 SW 40th St Suite J, Miami, FL 33155
Frequently Asked Questions
What type of property is this?
Medical Office Space - The vacant unit includes a bathroom and additional parking on the adjoining lot.
Where is this medical office space located?
The property is located at 3850 SW 87th Avenue Unit 305 Miami, FL.
What are key features of this property?
This property features: 926 usable SF with an included bathroom; Former doctor’s office, now vacant; Additional parking on the adjoining lot, which is part of the property
