Renovated Dental Medical
New
For Sale
$1,700,000
3944 West Flagler Street, Miami, FL 33134
Freestanding clinical office with dental operatories, imaging capability, dedicated lab, and on-site parking.
Property Size3,120 SF
Days on Market2
Property Features for 3944 West Flagler Street
General Information
Standard status
Active
Size
3,120 SF
Class
C
Total Parking Spaces
11
Property subtype
Office - Medical Office
Building Details
Building Size
3,120 SF
Year Built
1976
Year Renovated
2026
Buildings
1
Listing Agency:
RE/MAX 360 Real Estate
Listed By:
Billy Planes · License #A11882925
(305) 772-8513
Source:
Commercialcafe
Added: Sep 21
Last Checked: Sep 22 at 1:23PM
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 RE/MAX 360 Real Estate
Investment Insights
Based on property information with market context.
Freestanding medical office configured for dental use, with three operatories, a dedicated lab, imaging capability, and a private office. The facility has been recently renovated and includes an existing clinical layout suited to patient care. Built in 1976, the property provides a specialized alternative to converting conventional office space.
The building occupies the southeast corner of West Flagler Street and SW 39th Court in Miami’s Flagler corridor, with 11 on-site parking spaces along West Flagler Street. West Flagler Street carries approximately 38,000 vehicles per day. The property is approximately 1.7 miles, or a 5-minute drive, from Miami International Airport and is minutes from Coral Gables.
The building occupies the southeast corner of West Flagler Street and SW 39th Court in Miami’s Flagler corridor, with 11 on-site parking spaces along West Flagler Street. West Flagler Street carries approximately 38,000 vehicles per day. The property is approximately 1.7 miles, or a 5-minute drive, from Miami International Airport and is minutes from Coral Gables.
Key Highlights
- Recently renovated freestanding dental facility
- Three operatories with dedicated lab and imaging capability
- Private office and existing clinical configuration
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
$89,505
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
5.27%
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%
$1,790,100
$1.8M
Cap Rate 7%
$1,278,643
$1.3M
Cap Rate 9%
$994,500
$994.5K
Market Conditions
NOI Build-Up for 3,120 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
$140.4K $45.00/SF
− Vacancy
−$21.1K −$6.75/SF
EGI
$119.3K $38.25/SF
− OpEx
−$29.8K −$9.56/SF
NOI
$89.5K $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%
$1,790,100
Cap Rate 7%
$1,278,643
Cap Rate 9%
$994,500
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,505 @ 7.0% cap · market cap 5.27%
Second Best
Healthcare Medical
$738.1K
$645.8K – $861.1K
NOI $51,667 @ 7.0% cap · market cap 3.04%
Theoretical Best
Specialty Retail
$2.11M
$1.84M – $2.46M
NOI $147,421 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,529
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding clinical office with dental operatories, imaging capability, dedicated lab, and on-site parking.
Where is this medical office space located?
The property is located at 3944 West Flagler Street Miami, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Recently renovated freestanding dental facility; Three operatories with dedicated lab and imaging capability; Private office and existing clinical configuration
