Office Condo Near Baptist
For Sale
$1,600,000
7374 SW 93rd Ave # B, Miami, FL 33173
Versatile office condo, ideal for medical or professional use.
Property Size2,570 SF
Price / SF$580.55
Days on Market227
Property Features for 7374 SW 93rd Ave # B
General Information
Standard status
Active
Size
2,570 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$18,144
Building Details
Building Size
2,570 SF
Year Built
2005
Listing Agency:
Coldwell Banker Realty
(305) 975-4205
Listed By:
Daniel Martinez · License #0560978
Source:
Silverleafrealtygroup
Added: Jan 16
Changed: Aug 23
Last Checked: Aug 30 at 11:35PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This versatile office condominium is suitable for medical or professional use. The property features 10 assigned covered parking spaces and is moderately and beautifully decorated. The space, totaling 2,756 square feet including the balcony as per the architect’s plan, is divided into two separate offices. One office is owner-occupied, while the other is leased, providing additional income. This layout offers flexibility for an owner-user to occupy part of the space while generating rental income, or to combine both units into one larger operation. The property is conveniently located approximately 1.5 miles from Baptist Hospital, minutes from South Miami, and with easy access to major expressways. The location has a bike score of 58, indicating it is bikeable, a walk score of 69, indicating it is somewhat walkable, and a transit score of 37, indicating some transit options are available.
Key Highlights
- Income‑generating property: Leased portion provides additional income
- Flexible layout: Can be used as two separate offices or combined into one
- 10 assigned covered parking spaces
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
$79,063
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
4.94%
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%
$1,581,260
$1.6M
Cap Rate 7%
$1,129,471
$1.1M
Cap Rate 9%
$878,478
$878.5K
Market Conditions
NOI Build-Up for 2,756 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
$124.0K $45.00/SF
− Vacancy
−$18.6K −$6.75/SF
EGI
$105.4K $38.25/SF
− OpEx
−$26.4K −$9.56/SF
NOI
$79.1K $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%
$1,581,260
Cap Rate 7%
$1,129,471
Cap Rate 9%
$878,478
Alternative Uses
Best Use
Office B
$1.13M
$988.3K – $1.32M
NOI $79,063 @ 7.0% cap · market cap 4.94%
Second Best
Healthcare Medical
$652.0K
$570.5K – $760.7K
NOI $45,639 @ 7.0% cap · market cap 2.85%
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,222 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,402
Businesses Nearby
Explore this area
Business Placement
Demographics for 33173, FL
33,648
Population
12,237
Households
2.7
Avg Household Size
46
Median Age
42%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
6,118
Density / Sq Mi
$83,053
Median Household Income
$48,565
Median Earnings
$1,935
Median Rent
$460,500
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?
Office units - Versatile office condo, ideal for medical or professional use.
Where is this office units located?
The property is located at 7374 SW 93rd Ave # B Miami, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Income‑generating property: Leased portion provides additional income; Flexible layout: Can be used as two separate offices or combined into one; 10 assigned covered parking spaces
