First-Floor Medical Office
New
For Sale
$1,750,000
7765 SW 87th Ave # 101A, Miami, FL 33173
Flexible professional layout includes reception, six offices, work areas, and support space within an established office complex.
Property Size2,920 SF
Days on Market3
Property Features for 7765 SW 87th Ave # 101A
General Information
Standard status
Active
Size
2,920 SF
Total Parking Spaces
6
Property subtype
Office
Additional Details
Floor
First Floor
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$17,366
Building Details
Building Size
2,920 SF
Year Built
1996
Listing Agency:
BHHS EWM Realty
Listed By:
Drew Kern · License #0628522
(305) 329-7744
Source:
Miamibrokersgroup
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 2:17PM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This first-floor medical office condominium is arranged for a range of professional operations, with a waiting area, reception, 6 offices, 2 workspaces, a break room, and additional flex areas. The property was built in 1996 and is located within Galloway Professional Park. Furnishings are negotiable, providing flexibility for a buyer’s preferred setup.
The office complex is minutes from Baptist Hospital and near the Snapper Creek Exchange. Access to the Palmetto, Turnpike, and Dadeland area supports convenient connections throughout the surrounding market. The property includes 6 assigned parking spaces, with 2 additional spots available for purchase, along with ample guest parking.
The office complex is minutes from Baptist Hospital and near the Snapper Creek Exchange. Access to the Palmetto, Turnpike, and Dadeland area supports convenient connections throughout the surrounding market. The property includes 6 assigned parking spaces, with 2 additional spots available for purchase, along with ample guest parking.
Key Highlights
- First‑floor medical office condominium in Galloway Professional Park
- Layout includes a waiting area, reception, 6 offices, 2 workspaces, break room, and additional flex areas
- Built in 1996
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
$83,768
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
4.79%
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%
$1,675,360
$1.7M
Cap Rate 7%
$1,196,686
$1.2M
Cap Rate 9%
$930,756
$930.8K
Market Conditions
NOI Build-Up for 2,920 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
$131.4K $45.00/SF
− Vacancy
−$19.7K −$6.75/SF
EGI
$111.7K $38.25/SF
− OpEx
−$27.9K −$9.56/SF
NOI
$83.8K $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%
$1,675,360
Cap Rate 7%
$1,196,686
Cap Rate 9%
$930,756
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,768 @ 7.0% cap · market cap 4.79%
Second Best
Healthcare Medical
$690.8K
$604.4K – $805.9K
NOI $48,355 @ 7.0% cap · market cap 2.76%
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,971 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible professional layout includes reception, six offices, work areas, and support space within an established office complex.
Where is this medical office space located?
The property is located at 7765 SW 87th Ave # 101A Miami, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: First‑floor medical office condominium in Galloway Professional Park; Layout includes a waiting area, reception, 6 offices, 2 workspaces, break room, and additional flex areas; Built in 1996
