Medical Office Condominium with Exam
New
For Sale
$800,000
8500 Southwest 92nd Street, Miami, FL 33176
Configured for medical, wellness, or professional services with reception, private offices, and convenient client access.
Property Size1,488 SF
Price / SF$537.63
Days on Market4
Property Features for 8500 Southwest 92nd Street
General Information
Standard status
Active
Size
1,488 SF
Class
B
Property subtype
Office - General Office
Building Details
Building Size
1,488 SF
Listing Agency:
RE/MAX 360 Real Estate
(305) 772-8513
Listed By:
Billy Planes · License #A11882925
Source:
Commercialcafe
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 31 at 1:47PM
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 RE/MAX 360 Real Estate
Investment Insights
Based on property information with market context.
This medical office condominium provides 1,488 usable square feet in a practical configuration for healthcare, wellness, or professional office use. The interior includes a waiting room, open work area, two exam rooms, 3-4 private offices, and a kitchenette converted from a bathroom. Two separate ingress/egress points support flexible movement through the suite.
The property is situated minutes from Baptist Hospital and Med Health, placing users near established medical facilities. Open parking and complimentary valet service provide access options for clients and staff.
The property is situated minutes from Baptist Hospital and Med Health, placing users near established medical facilities. Open parking and complimentary valet service provide access options for clients and staff.
Key Highlights
- 1,488 usable square feet of medical office space
- Two exam rooms, 3‑4 private offices, and an open work area
- Waiting room and kitchenette converted from a bathroom
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
$42,687
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
5.34%
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%
$853,740
$853.7K
Cap Rate 7%
$609,814
$609.8K
Cap Rate 9%
$474,300
$474.3K
Market Conditions
NOI Build-Up for 1,488 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
$67.0K $45.00/SF
− Vacancy
−$10.0K −$6.75/SF
EGI
$56.9K $38.25/SF
− OpEx
−$14.2K −$9.56/SF
NOI
$42.7K $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%
$853,740
Cap Rate 7%
$609,814
Cap Rate 9%
$474,300
Alternative Uses
Best Use
Office B
$609.8K
$533.6K – $711.5K
NOI $42,687 @ 7.0% cap · market cap 5.34%
Second Best
Healthcare Medical
$352.0K
$308.0K – $410.7K
NOI $24,641 @ 7.0% cap · market cap 3.08%
Theoretical Best
Specialty Retail
$1.00M
$878.9K – $1.17M
NOI $70,309 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33176, FL
52,370
Population
20,309
Households
2.6
Avg Household Size
44
Median Age
43%
College-Educated
91%
High-School Grad
12.1 sq mi
ZIP Area
4,328
Density / Sq Mi
$80,437
Median Household Income
$45,040
Median Earnings
$1,666
Median Rent
$568,400
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?
Medical Office Space - Configured for medical, wellness, or professional services with reception, private offices, and convenient client access.
Where is this medical office space located?
The property is located at 8500 Southwest 92nd Street Miami, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 1,488 usable square feet of medical office space; Two exam rooms, 3‑4 private offices, and an open work area; Waiting room and kitchenette converted from a bathroom
