Updated Medical Office
For Sale
$510,000
8525 92nd St, Miami, FL 33156
Professional suite with room suites, reception area, administrative office, and private restroom in a single-story complex.
Property Size650 SF
Price / SF$784.62
Days on Market95
Property Features for 8525 92nd St
General Information
Standard status
Active
Size
650 SF
Elevators
No
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Amenities
3
Building Details
Year Built
1981
Stories
1
Listing Agency:
First Step Realty Group
(786) 641-6840
Listed By:
Nicholas Cruz · License #A12041952
(305) 297-0944
Source:
Xome
Added: May 31
Changed: Sep 1
Last Checked: Sep 1 at 3:00PM
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 First Step Realty Group
Investment Insights
Based on property information with market context.
This medical office suite is located within Oak Plaza Professional Center and was updated for professional use. The 650 SF layout includes two room suites, a reception and waiting area, an administrative office, and a private restroom. The single-story setting allows clients and patients to reach the suite without elevators or stairs.
The property is 0.3 miles from Baptist Hospital in Kendall, with access to US-1, SR-874 (Don Shula Expressway), SR-826 (Palmetto Expressway), and the Florida Turnpike. On-site parking and valet service are available for visitors. The surrounding professional corridor includes medical providers, professional offices, retail amenities, and Baptist Hospital. The complex was built in 1981.
The property is 0.3 miles from Baptist Hospital in Kendall, with access to US-1, SR-874 (Don Shula Expressway), SR-826 (Palmetto Expressway), and the Florida Turnpike. On-site parking and valet service are available for visitors. The surrounding professional corridor includes medical providers, professional offices, retail amenities, and Baptist Hospital. The complex was built in 1981.
Key Highlights
- 650 SF medical office suite in Oak Plaza Professional Center
- Two room suites plus reception and waiting area
- Administrative office and private restroom
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
$18,647
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
3.66%
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%
$372,940
$372.9K
Cap Rate 7%
$266,386
$266.4K
Cap Rate 9%
$207,189
$207.2K
Market Conditions
NOI Build-Up for 650 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
$29.3K $45.00/SF
− Vacancy
−$4.4K −$6.75/SF
EGI
$24.9K $38.25/SF
− OpEx
−$6.2K −$9.56/SF
NOI
$18.6K $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%
$372,940
Cap Rate 7%
$266,386
Cap Rate 9%
$207,189
Alternative Uses
Best Use
Office B
$266.4K
$233.1K – $310.8K
NOI $18,647 @ 7.0% cap · market cap 3.66%
Second Best
Healthcare Medical
$153.8K
$134.6K – $179.4K
NOI $10,764 @ 7.0% cap · market cap 2.11%
Theoretical Best
Specialty Retail
$438.8K
$383.9K – $511.9K
NOI $30,713 @ 7.0% cap · market cap 6.02%
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
2,041
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33156, FL
34,036
Population
13,215
Households
2.6
Avg Household Size
42
Median Age
66%
College-Educated
97%
High-School Grad
13.9 sq mi
ZIP Area
2,449
Density / Sq Mi
$134,720
Median Household Income
$66,117
Median Earnings
$1,936
Median Rent
$1,063,100
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 - Professional suite with room suites, reception area, administrative office, and private restroom in a single-story complex.
Where is this medical office space located?
The property is located at 8525 92nd St Miami, FL.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: 650 SF medical office suite in Oak Plaza Professional Center; Two room suites plus reception and waiting area; Administrative office and private restroom
