Corner Medical Office
For Sale
$1,400,000
8501 SW 124th Ave Unit 201, Miami, FL 33183
Professional suite with private offices, executive workspace, conference room, and an open work area.
Property Size2,190 SF
Price / SF$639.27
Days on Market29
Property Features for 8501 SW 124th Ave Unit 201
General Information
Standard status
Active
Size
2,190 SF
Class
Class A
Total Parking Spaces
3
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
elegant lobby
covered entrance
Building Details
Year Built
2007
Listing Agency:
Compass Florida, LLC
(786) 399-9278
Listed By:
Jorge Lopez · License #3247936
Source:
Thepennteam
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 29 at 9:14PM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This 2,190-square-foot corner medical and professional office suite is located in The Professional Arts Center at Kendall Village, a 2007 office building. The interior includes a reception area, three private offices, a large executive office, a conference room, an open work area, lunch room, utility and IT space, and additional storage. The building provides an elegant lobby and a covered entrance suited to patient or client drop-off.
The suite is positioned immediately off Kendall Drive, also identified as SW 88 Street, with access to the Turnpike and Palmetto, or SR-826. Shopping with restaurants is nearby, and the property includes three assigned parking spaces along with additional parking at the building.
The suite is positioned immediately off Kendall Drive, also identified as SW 88 Street, with access to the Turnpike and Palmetto, or SR-826. Shopping with restaurants is nearby, and the property includes three assigned parking spaces along with additional parking at the building.
Key Highlights
- 2,190 SF corner medical/professional office suite
- Located in The Professional Arts Center at Kendall Village building
- Reception, 3 private offices, large executive office, and conference room
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
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
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 - Professional suite with private offices, executive workspace, conference room, and an open work area.
Where is this medical office space located?
The property is located at 8501 SW 124th Ave Unit 201 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 SF corner medical/professional office suite; Located in The Professional Arts Center at Kendall Village building; Reception, 3 private offices, large executive office, and conference room
