Freestanding Ambulatory Surgery
For Sale
Contact for pricing
51 South Le Jeune Road, Miami, FL 33134
Two-story freestanding healthcare building with an ambulatory surgery center buildout and direct road frontage.
Property Size10,000 SF
Price / SF$500
Days on Market72
Property Features for 51 South Le Jeune Road
General Information
Standard status
Active
Size
10,000 SF
Class
B
Total Parking Spaces
20
Property subtype
Office
Zoning
T6-8-O (Urban Core Transect Zone, Open)
Investment Type
Owner/User
Site & Location
Traffic Count
43,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1962
Year Renovated
2008
Buildings
1
Stories
2
Listing Agency:
Blanca Commercial Real Estate, Inc.
Listed By:
Cary Cohen · License #FL SL3069720
(954) 336-9287
Source:
Crexi
Added: Jun 29
Changed: Sep 5
Last Checked: Sep 7 at 11:07AM
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 Blanca Commercial Real Estate, Inc.
Investment Insights
Based on property information with market context.
51 S. Le Jeune Road is a two-story freestanding building with an ambulatory surgery center (ASC) buildout. Designed as a high-barrier-to-entry healthcare asset, it presents an immediately relevant environment for an owner-user or operator seeking ASC capability.
The property offers direct frontage on S Le Jeune Road for exposure and includes direct access to the Dolphin Expressway (SR-836). It is directly adjacent to a hotel and located minutes from Miami International Airport.
With its freestanding configuration and ASC improvements already in place, the building supports healthcare use and may also be positioned for other service-oriented or commercial purposes, subject to applicable approvals.
The property offers direct frontage on S Le Jeune Road for exposure and includes direct access to the Dolphin Expressway (SR-836). It is directly adjacent to a hotel and located minutes from Miami International Airport.
With its freestanding configuration and ASC improvements already in place, the building supports healthcare use and may also be positioned for other service-oriented or commercial purposes, subject to applicable approvals.
Key Highlights
- Two‑story freestanding building with a rare ambulatory surgery center (ASC) buildout
- Approximately 10,000 SF healthcare property built in 1962
- Direct frontage on S Le Jeune Road with exposure to about 43,500 vehicles per day
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
$286,875
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
5.74%
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%
$5,737,500
$5.7M
Cap Rate 7%
$4,098,214
$4.1M
Cap Rate 9%
$3,187,500
$3.2M
Market Conditions
NOI Build-Up for 10,000 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
$450.0K $45.00/SF
− Vacancy
−$67.5K −$6.75/SF
EGI
$382.5K $38.25/SF
− OpEx
−$95.6K −$9.56/SF
NOI
$286.9K $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%
$5,737,500
Cap Rate 7%
$4,098,214
Cap Rate 9%
$3,187,500
Alternative Uses
Best Use
Office B
$4.10M
$3.59M – $4.78M
NOI $286,875 @ 7.0% cap · market cap 5.74%
Second Best
Healthcare Medical
$2.37M
$2.07M – $2.76M
NOI $165,600 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$6.75M
$5.91M – $7.88M
NOI $472,505 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
43,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,360
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Medical center - Two-story freestanding healthcare building with an ambulatory surgery center buildout and direct road frontage.
Where is this medical center located?
The property is located at 51 South Le Jeune Road Miami, FL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Two‑story freestanding building with a rare ambulatory surgery center (ASC) buildout; Approximately 10,000 SF healthcare property built in 1962; Direct frontage on S Le Jeune Road with exposure to about 43,500 vehicles per day
