Two-Unit Medical Office
For Sale
$2,079,999
8200 SW 117th Ave # 414 Unit 412-414, Miami, FL 33183
Built-out clinical layout includes examination and procedure rooms, private offices, and a staff kitchen.
Property Size3,881 SF
Price / SF$535.94
Days on Market13
Property Features for 8200 SW 117th Ave # 414 Unit 412-414
General Information
Standard status
Active
Size
3,881 SF
Class
Class A
Property subtype
Office
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Building Size
3,881 SF
Year Built
2008
Listing Agency:
The Elaine Group, Inc.
(786) 287-4344
Listed By:
Elaine Perez · License #3326121
Source:
Silverleafrealtygroup
Added: Aug 7
Changed: Aug 17
Last Checked: Aug 19 at 3:41PM
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 The Elaine Group, Inc.
Investment Insights
Based on property information with market context.
Units 412 and 414 are offered together as a 3,881-square-foot medical office suite in One Seventeen Professional Center. Built in 2008, the space includes a patient reception area, central nurse station, examination rooms, procedure rooms, private offices, an administrative workroom, storage, and a staff lounge with full kitchen. The suite is delivered fully built out for medical use.
The property is located on SW 117th Ave in Kendall, near The Palms shopping and dining center and Kohl's. Florida Turnpike access is immediately available, connecting the office to locations throughout Miami-Dade. The building includes a covered parking garage.
Building and common-area maintenance, insurance, utilities, management, and reserves are included in the maintenance coverage. The two-unit configuration provides a single medical office setting with dedicated clinical, administrative, and staff areas.
The property is located on SW 117th Ave in Kendall, near The Palms shopping and dining center and Kohl's. Florida Turnpike access is immediately available, connecting the office to locations throughout Miami-Dade. The building includes a covered parking garage.
Building and common-area maintenance, insurance, utilities, management, and reserves are included in the maintenance coverage. The two-unit configuration provides a single medical office setting with dedicated clinical, administrative, and staff areas.
Key Highlights
- Two medical office units, 412 and 414, offered together
- 3,881 SF combined suite per property records
- Fully built‑out medical layout with examination and procedure rooms
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
$111,336
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
5.35%
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%
$2,226,720
$2.2M
Cap Rate 7%
$1,590,514
$1.6M
Cap Rate 9%
$1,237,067
$1.2M
Market Conditions
NOI Build-Up for 3,881 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
$174.6K $45.00/SF
− Vacancy
−$26.2K −$6.75/SF
EGI
$148.4K $38.25/SF
− OpEx
−$37.1K −$9.56/SF
NOI
$111.3K $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%
$2,226,720
Cap Rate 7%
$1,590,514
Cap Rate 9%
$1,237,067
Alternative Uses
Best Use
Office B
$1.59M
$1.39M – $1.86M
NOI $111,336 @ 7.0% cap · market cap 5.35%
Second Best
Healthcare Medical
$918.1K
$803.4K – $1.07M
NOI $64,269 @ 7.0% cap · market cap 3.09%
Theoretical Best
Specialty Retail
$2.62M
$2.29M – $3.06M
NOI $183,379 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33183, FL
35,891
Population
12,734
Households
2.8
Avg Household Size
44
Median Age
31%
College-Educated
85%
High-School Grad
5.5 sq mi
ZIP Area
6,526
Density / Sq Mi
$67,741
Median Household Income
$40,468
Median Earnings
$1,880
Median Rent
$372,000
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.
Similar Off Market Nearby
- Pinecrest Veterinary Hospital — 12125 S Dixie Hwy, Pinecrest, FL 33156
- Dugan James DVM — 12125 S Dixie Hwy, Miami, FL 33156
- Miami Vet Group — 12521 S Dixie Hwy, Pinecrest, FL 33156
- Pet Care Now — 12683 S Dixie Hwy, Miami, FL 33156
- Fehrer-Swayer Susan DVM — 12521 s dixie hwy, miami, fl 33156
Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out clinical layout includes examination and procedure rooms, private offices, and a staff kitchen.
Where is this medical office space located?
The property is located at 8200 SW 117th Ave # 414 Unit 412-414 Miami, FL.
What is the asking price?
The asking price for this property is $2,079,999.
What are key features of this property?
This property features: Two medical office units, 412 and 414, offered together; 3,881 SF combined suite per property records; Fully built‑out medical layout with examination and procedure rooms
