Medical Office with Procedure
For Sale
$1,500,000
555 Biltmore Way, Coral Gables, FL 33134
Commercial Sale, Coral Gables, FL
Property Size2,063 SF
Price / SF$727.10
Days on Market48
Property Features for 555 Biltmore Way
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
6100
Parking
3
Parking features
Assigned, Garage
Subdivision
41
Standard status
Active
APN
03-41-17-030-0110
Taxes and HOA fees
Tax Description
555 MEDICAL CENTER CONDO UNIT 205 UNDIV 13.7985% INT IN COMMON ELEMENTS OFF REC 11611-1108 OR 17535-2107 0297 1
Legal Description
555 MEDICAL CENTER CONDO UNIT 205 UNDIV 13.7985% INT IN COMMON ELEMENTS OFF REC 11611-1108 OR 17535-2107 0297 1
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
2
Flooring type
Tile
Building materials
Block
Listing Agency:
BHHS EWM Realty
(305) 960-2400
Listed By:
Adriana Verdeja-Arango · License #3513336
(305) 904-9890
Added: Jul 17
Changed: Aug 26
Last Checked: Sep 2 at 6:06AM
MLS# A12055771
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.
Investment Insights
Based on property information with market context.
This 2,063 SF medical office suite is configured for clinical or general office use. The layout includes seven procedure rooms with sinks, including two rooms with 220V service, along with three file rooms that may function as offices. Additional areas include an IT room, copy room, reception area, waiting room, two bathrooms, laundry closet, and an eat-in kitchen. Tile flooring, central heating, and central air are installed, and the building was constructed in 1984.
Parking includes three reserved spaces beneath the building, three additional spaces in an adjacent lot, and metered street parking for visitors. The property is located at 555 Biltmore Way in Coral Gables, with public water service and block construction. Association approval is required.
Parking includes three reserved spaces beneath the building, three additional spaces in an adjacent lot, and metered street parking for visitors. The property is located at 555 Biltmore Way in Coral Gables, with public water service and block construction. Association approval is required.
Key Highlights
- 2,063 SF medical office suite at 555 Biltmore Way
- Seven procedure rooms with sinks; two include 220V service
- Three file rooms offer additional office configuration options
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
$54,680
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
3.65%
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%
$1,093,600
$1.1M
Cap Rate 7%
$781,143
$781.1K
Cap Rate 9%
$607,556
$607.6K
Market Conditions
NOI Build-Up for 2,063 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
$94.1K $45.60/SF
− Vacancy
−$21.2K −$10.26/SF
EGI
$72.9K $35.34/SF
− OpEx
−$18.2K −$8.84/SF
NOI
$54.7K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$1,093,600
Cap Rate 7%
$781,143
Cap Rate 9%
$607,556
Alternative Uses
Best Use
Office B
$781.1K
$683.5K – $911.3K
NOI $54,680 @ 7.0% cap · market cap 3.65%
Second Best
Healthcare Medical
$388.3K
$339.8K – $453.0K
NOI $27,182 @ 7.0% cap · market cap 1.81%
Theoretical Best
Office A
$1.05M
$915.8K – $1.22M
NOI $73,265 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,336
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 South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out suite offers flexible clinical or office configurations with reserved and guest parking options.
Where is this medical office space located?
The property is located at 555 Biltmore Way Coral Gables, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2,063 SF medical office suite at 555 Biltmore Way; Seven procedure rooms with sinks; two include 220V service; Three file rooms offer additional office configuration options
