Hospital-Connected Medical Office
4308 Alton Rd, Miami Beach, FL 33140
Class A medical office building is physically connected by pedestrian bridge to Mount Sinai Medical Center in Miami Beach.
Type:Office
Property size:
85,162 SFPrice / SF:
$394/SF- Added:
- Jun 17, 2026
- Days on Market:
- 13
- Last Refresh:
- Jun 24 at 2:46 am
Property Features for 4308 Alton Rd
General Information
- Standard status
- Active
- Size
- 85,162 SF
- Property subtype
- Office
Building Details
- Year Built
- 2008
Listing date Jun 17, 2026
Source Crexi
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 Christopher Green
HighLights
- 85,162 RSF Class A medical office building physically connected via pedestrian bridge to Mount Sinai Medical Center in Miami Beach
- Year built 2008
- Offered as a leasehold interest with approximately 32 years remaining term
- 2026 contractual NOI of approximately $2.26M with about a 6.73% cap rate
- About 94.5% current occupancy
- Parking component generates approximately $608K annually (2026 budget)
Overview
Hospital-Connected Medical Office Building offering a Class A medical office structure with 85,162 RSF, physically connected via pedestrian bridge to Mount Sinai Medical Center. The asset is presented as a leasehold interest with approximately 32 years remaining term.
Located at 4308 Alton Rd, the property’s on-campus designation is tied directly to its physical connection to the adjacent Mount Sinai Medical Center. The information provided also indicates a parking component that contributes to annual revenue.
For investors or operators evaluating healthcare real estate with an integrated care setting, this building’s setup centers on proximity and physical access to an operating hospital campus. The offering materials cite 94.5% current occupancy and a contractual 2026 NOI of approximately $2.26 million, supported by the stated parking revenue component of approximately $608,000 annually in the 2026 budget. The leasehold framing provides a defined remaining term and an income-stream profile associated with the hospital-connected medical office use.
Located at 4308 Alton Rd, the property’s on-campus designation is tied directly to its physical connection to the adjacent Mount Sinai Medical Center. The information provided also indicates a parking component that contributes to annual revenue.
For investors or operators evaluating healthcare real estate with an integrated care setting, this building’s setup centers on proximity and physical access to an operating hospital campus. The offering materials cite 94.5% current occupancy and a contractual 2026 NOI of approximately $2.26 million, supported by the stated parking revenue component of approximately $608,000 annually in the 2026 budget. The leasehold framing provides a defined remaining term and an income-stream profile associated with the hospital-connected medical office use.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $3.88M | $45.60 |
| − Vacancy | −$873.8k | −$10.26 |
| EGI | $3.01M | $35.34 |
| − OpEx | −$752.4k | −$8.84 |
| NOI | $2.26M | $26.51 |
85,162 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$32.25M
$28.22M – $37.62M
NOI $2,257,219 @ 7.0% cap · market cap 6.72%
Second Best
Healthcare Medical
$16.03M
$14.03M – $18.70M
NOI $1,122,095 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$43.21M
$37.81M – $50.41M
NOI $3,024,439 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Medical Office Space
Location Insight
- Map
- Local Demand
- City
- Miami Beach
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.137631
- Latitude
- 25.815578
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Class A medical office building is physically connected by pedestrian bridge to Mount Sinai Medical Center in Miami Beach.
Where is this medical office space located?
The property is located at 4308 Alton Rd Miami Beach, FL.
What is the asking price?
The asking price for this property is $33,600,000.
What are key features of this property?
This property features: 85,162 RSF Class A medical office building physically connected via pedestrian bridge to Mount Sinai Medical Center in Miami Beach; Year built 2008; Offered as a leasehold interest with approximately 32 years remaining term
