Corner Class A Medical Office
For Sale
$1,400,000
8501 SW 124th Ave, Miami, FL 33183
SINGLE_FAMILY - Miami, FL
Property Size2,190 SF
Lot Size0.05 Acres
Price / SF$639.27
Days on Market44
Property Features for 8501 SW 124th Ave
General Information
Property type
Residential
Property subtype
Office
Zoning description
6400
Subdivision
49
Standard status
Active
APN
30-49-36-038-0230
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
THE PROFESSIONAL ARTS CENTER AT KENDALL VILLAGE CONDO UNIT 201 UNDIV 0.029368% INT IN COMMON ELEMENTS OFF REC 25311-3145 COC 25389-0140 02 2
Tax Annual Amount
14807
HOA Fee
$2,300 Monthly
Legal Description
THE PROFESSIONAL ARTS CENTER AT KENDALL VILLAGE CONDO UNIT 201 UNDIV 0.029368% INT IN COMMON ELEMENTS OFF REC 25311-3145 COC 25389-0140 02 2
Building Details
Year built
2007
Listing Agency:
Compass Florida, LLC
(305) 315-2396
Listed By:
Jorge Lopez · License #3247936
(786) 399-9278
Added: Jun 30
Last Checked: Aug 12 at 1:06PM
MLS# A11935895
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Bright and spacious corner medical/professional office suite within The Professional Arts Center at Kendall Village. The suite includes a reception area, three private offices, a large executive office, a spacious conference room, a large open work area, a lunch room, and utility/IT space with an additional storage unit. An elegant lobby provides an entry point for patients and clients.
The property offers a covered entrance for easier patient/client drop-off and includes three assigned parking spaces, with additional parking available. The building is immediately off Kendall DR (SW 88 St), with access to major roadways including the Turnpike and Palmetto (SR-826). The surrounding area includes shopping center amenities with restaurants.
This layout supports a range of medical or professional uses that benefit from a reception entry, multiple private rooms, and both conference and collaborative workspace. The combination of reception, enclosed offices, and a larger open work area can accommodate teams that need visibility at the front and flexibility across day-to-day operations.
The property offers a covered entrance for easier patient/client drop-off and includes three assigned parking spaces, with additional parking available. The building is immediately off Kendall DR (SW 88 St), with access to major roadways including the Turnpike and Palmetto (SR-826). The surrounding area includes shopping center amenities with restaurants.
This layout supports a range of medical or professional uses that benefit from a reception entry, multiple private rooms, and both conference and collaborative workspace. The combination of reception, enclosed offices, and a larger open work area can accommodate teams that need visibility at the front and flexibility across day-to-day operations.
Key Highlights
- Prime location off Kendall Drive, near Turnpike and Palmetto Expressway (SR‑826), and shopping/restaurants.
- 2,190 sqft Class A medical/professional office space.
- Corner unit in The Professional Arts Center at Kendall Village.
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
$62,826
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
4.49%
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%
$1,256,520
$1.3M
Cap Rate 7%
$897,514
$897.5K
Cap Rate 9%
$698,067
$698.1K
Market Conditions
NOI Build-Up for 2,190 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
$98.6K $45.00/SF
− Vacancy
−$14.8K −$6.75/SF
EGI
$83.8K $38.25/SF
− OpEx
−$20.9K −$9.56/SF
NOI
$62.8K $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%
$1,256,520
Cap Rate 7%
$897,514
Cap Rate 9%
$698,067
Alternative Uses
Best Use
Office B
$897.5K
$785.3K – $1.05M
NOI $62,826 @ 7.0% cap · market cap 4.49%
Second Best
Healthcare Medical
$518.1K
$453.3K – $604.4K
NOI $36,266 @ 7.0% cap · market cap 2.59%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,478 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,197
Businesses Nearby
Balanced
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Class A corner suite with dedicated parking and multiple private offices plus conference and open work areas.
Where is this medical office space located?
The property is located at 8501 SW 124th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Prime location off Kendall Drive, near Turnpike and Palmetto Expressway (SR‑826), and shopping/restaurants.; 2,190 sqft Class A medical/professional office space.; Corner unit in The Professional Arts Center at Kendall Village.
