Building Details

Building Size 2,570 SF

Year Built 2005

Listing Agency: Coldwell Banker Realty

Listed By: Daniel Martinez · License #0560978 Show Phone

Source: Silverleafrealtygroup

Added: Jan 16 Changed: Oct 1 Last Checked: Oct 15 at 4:59AM

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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 / Yr

$79,063

Cap Rate

4.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,581,260 $1.6M

Cap Rate 7%

$1,129,471 $1.1M

Cap Rate 9%

$878,478 $878.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,756 SF

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 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 (±1% cap)

NOI $79,063 @ 7.0% cap · market cap 4.94%

Second Best

Healthcare Medical

$652.0K

$570.5K – $760.7K (±1% cap)

NOI $45,639 @ 7.0% cap · market cap 2.85%

Theoretical Best

Specialty Retail

$1.86M

$1.63M – $2.17M (±1% cap)

NOI $130,222 @ 7.0% cap · market cap 8.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Sonia Tolgyesi, MD Physician Sunset Neurological & Psychiatry ... Physician Sarah A Miami Psc ... Physician Robert Craig Ummg ... Physician Carlos Escasena, MD Physician

Suggested Use

Top Pick Auto Repair Shop Parking Lot & Garage Auto Parts Store Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

12.4% 2019

16.3% 2020

17% 2021

16.1% 2022

15% 2023

16.1% 2024

15.2% 2025

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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