Corner Medical Office
New
For Sale
$1,400,000
8501 SW 124th Ave, Miami, FL 33183
Commercial Sale, Miami, FL
Property Size2,190 SF
Lot Size0.05 Acres
Price / SF$639.27
Days on Market3
Property Features for 8501 SW 124th Ave
General Information
Property type
Commercial Sale
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
Amenities
elegant lobby
covered entrance
Building Details
Year built
2007
Listing Agency:
Compass Florida, LLC
(305) 315-2396
Listed By:
Jorge Lopez · License #3247936
(786) 399-9278
Added: Sep 18
Last Checked: Sep 20 at 11:06AM
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.
This 2,190-square-foot medical office suite occupies a corner position in The Professional Arts Center at Kendall Village, a 2007-built office property. The interior includes a reception area, three private offices, an executive office, conference room, open work area, lunch room, utility and IT space, and additional storage. A covered building entrance supports patient and client drop-off, while the suite includes three assigned parking spaces along with access to additional parking.
The property is located at 8501 SW 124th Ave in Miami, immediately off Kendall Drive (SW 88th Street). Regional access includes the Turnpike and Palmetto Expressway (SR-826). A nearby shopping center provides restaurants and other retail services.
The property is located at 8501 SW 124th Ave in Miami, immediately off Kendall Drive (SW 88th Street). Regional access includes the Turnpike and Palmetto Expressway (SR-826). A nearby shopping center provides restaurants and other retail services.
Key Highlights
- 2,190‑square‑foot corner medical office suite
- Three private offices plus an executive office
- Reception, conference room, open work area, lunch room, utility/IT space, and extra storage
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
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,817
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Professional suite with private offices, conference space, and a flexible open work area.
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: 2,190‑square‑foot corner medical office suite; Three private offices plus an executive office; Reception, conference room, open work area, lunch room, utility/IT space, and extra storage
