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    Turnkey Mixed-Use Income Property Title is generated by Realmo AI

    502 & 510 SW 27th Ave, Miami, FL 33135

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    Picture of Medical Office Space at 502 & 510 SW 27th Ave, Miami, FL
    For Sale
    $6,500,000

    Fourplex, Quadruplex - Miami, FL

    Type:Quadruplex
    Property size:
    3,826 SF
    Price / SF:
    $1,698/SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 5:06 pm

    Property Features for 502 & 510 SW 27th Ave

    General Information

    Property type
    Residential
    Property subtype
    Quadruplex
    Zoning
    6101
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking
    10
    Standard status
    Active
    APN
    01-41-04-017-0510
    Size
    3,826 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    0

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1940
    Flooring type
    Tile, Tile - Ceramic, Vinyl
    Building materials
    Block
    Roof type
    Concrete, Flat, Tile
    Architectural style
    Other

    We can help!

    Listing Contact
    Haraum Mellado

    Listing agent Haraum Mellado License #3355465

    Listing office RE/MAX Advance Realty II 11010 SW 88th St, FL

    Listing date Jun 2, 2026

    MLS# A12029566 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use building with ground‑floor medical office plus 8 residential units
    • Two renovated 1‑bedroom/1‑bath apartments above the medical office
    • Fourplex includes four remodeled 1‑bedroom/1‑bath units
    • Duplex includes two remodeled 1‑bedroom/1‑bath units
    • Central heating and central A/C; public water supply
    • 1940 construction with block construction and a roof of concrete/flat/tile

    Overview

    This turnkey mixed-use property features a medical office on the ground floor along with residential units above. The residential component consists of multiple updated configurations, including two 1-bedroom/1-bath apartments, a fourplex with four remodeled 1-bedroom/1-bath units, and a duplex with two remodeled 1-bedroom/1-bath units. In total, the property provides eight residential units plus the commercial medical office, creating multiple income streams.

    The asset is located in Miami, conveniently positioned between Little Havana and Coconut Grove, with easy access to nearby dining, shopping, entertainment, and public transportation. The listing notes that it is within walking distance of the Little Havana area and minutes from Coconut Grove and Brickell, supporting ongoing tenant appeal for both residential and commercial use.

    For investors and operators seeking an all-in-one acquisition, the fully remodeled condition is a key advantage, as it is intended to minimize immediate capital expenditures and allow for a smoother transition. The presence of a medical office on the ground floor can complement the residential income, offering a practical way to balance tenancy across commercial and residential markets within a single property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Parajon Animal Clinic — 2751 SW 8th St, Miami, FL 33135
    • TLC Animal Clinic I — 2200 SW 16th St Suite 222, Miami, FL 33145
    • Vet Allergy Care LLC — 330 SW 27th Ave, Miami, FL 33135
    • Miami Pet Clinic — 2485 W Flagler St # 3, Miami, FL 33135

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.239266
    Latitude
    25.76753

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    FAQs

    What type of property is this?
    Medical Office Space - Fully remodeled mixed-use building with ground-floor medical office and updated residential units designed for diversified income.
    Where is this medical office space located?
    The property is located at 502 & 510 SW 27th Ave Miami, FL.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: Mixed‑use building with ground‑floor medical office plus 8 residential units; Two renovated 1‑bedroom/1‑bath apartments above the medical office; Fourplex includes four remodeled 1‑bedroom/1‑bath units
    (305) 297-6223
    We can help!
    Listing Contact
    Haraum Mellado
    Real Estate License ID: 3355465
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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