Medical Office Suite with Conference
New
For Sale
$1,400,000
8501 SW 124th Avenue #201, Miami, FL 33183
Reception, private offices, and dedicated staff and support areas provide a functional professional layout.
Property Size95,787 SF
Price / SF$552.27
Days on Market2
Property Features for 8501 SW 124th Avenue #201
General Information
Standard status
Active
Size
95,787 SF
Net Rentable
2,535 SF
Class
Class A
Total Parking Spaces
3
Zoning
6400
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$13,446
Amenities
spectacular lobby
covered porte-cochere
Building Details
Building Size
95,787 SF
Year Built
2007
Stories
1
Tenancy
Multi
Listing Agency:
Florida Properties Realty
Listed By:
Guillermo Fernandez · License #A12107826
(305) 815-8532
Source:
Laerrealty
Added: Oct 19
Last Checked: Oct 19 at 3:31AM
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 Florida Properties Realty
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Investment Insights
Based on property information with market context.
This medical office suite offers approximately 2,535 square feet of rentable area and approximately 2,209 usable square feet. Its layout includes a reception area, three private rooms or offices, an executive office, and a conference room, along with open work space, a lunch room, utility and IT space, and storage. The suite is designated for medical use and includes three parking spaces.
The Professional Arts Center at Kendall Village is immediately off Florida’s Turnpike and Kendall Drive (SW 88th Street), with the Palmetto Expressway (SR-826) minutes away. Dining, retail, and services are in the surrounding area. The property is centrally positioned between Baptist Hospital of Miami and West Kendall Baptist Hospital.
The Professional Arts Center at Kendall Village is immediately off Florida’s Turnpike and Kendall Drive (SW 88th Street), with the Palmetto Expressway (SR-826) minutes away. Dining, retail, and services are in the surrounding area. The property is centrally positioned between Baptist Hospital of Miami and West Kendall Baptist Hospital.
Key Highlights
- Approximately 2,535 square feet of rentable area and 2,209 usable square feet
- Three private rooms or offices, an executive office, and a conference room
- Reception area, open work space, lunch room, utility/IT room, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,723
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,454,460
$1.5M
Cap Rate 7%
$1,038,900
$1.0M
Cap Rate 9%
$808,033
$808.0K
Market Conditions
NOI Build-Up for 2,535 SF
Gross rent
$114.1K $45.00/SF
− Vacancy
−$17.1K −$6.75/SF
EGI
$97.0K $38.25/SF
− OpEx
−$24.2K −$9.56/SF
NOI
$72.7K $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 Rate 5%
$1,454,460
Cap Rate 7%
$1,038,900
Cap Rate 9%
$808,033
Alternative Uses
Best Use
Office B
$1.04M
$909.0K – $1.21M
NOI $72,723 @ 7.0% cap · market cap 5.19%
Second Best
Healthcare Medical
$599.7K
$524.8K – $699.7K
NOI $41,980 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $119,780 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Reception, private offices, and dedicated staff and support areas provide a functional professional layout.
Where is this medical office space located?
The property is located at 8501 SW 124th Avenue #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: Approximately 2,535 square feet of rentable area and 2,209 usable square feet; Three private rooms or offices, an executive office, and a conference room; Reception area, open work space, lunch room, utility/IT room, and storage
