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    Miami Medical Office Building Title is generated by Realmo AI

    3000 Biscayne Blvd, Miami, FL 33137

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    Five-story medical office building in Miami's Biscayne Corridor.

    Type:Office
    Property size:
    59,259 SF
    Added:
    Oct 7, 2024
    Days on Market:
    605
    Last Refresh:
    May 13 at 8:09 pm

    Property Features for 3000 Biscayne Blvd

    General Information

    Standard status
    Active
    Size
    59,259 SF
    Property subtype
    Office

    Building Details

    Year Built
    1965

    Spaces For Lease

    at 3000 Biscayne Blvd Contact us

    Suite 210D $45/Mo

    Size
    1,449 SF
    Type
    Office
    Contact us

    Suite 210A $45/Mo

    Size
    1,058 SF
    Type
    Office
    Contact us

    Suite 523 $35/Mo

    Size
    4,600 SF
    Type
    Office
    Contact us

    Suite 210B $40/Mo

    Size
    1,650 SF
    Type
    Office
    Contact us

    4th Floor $35/Mo

    Size
    11,451 SF
    Type
    Office
    Contact us
    Show more

    We can help!

    Listing Contact
    Bert Checa
    Bert Checa

    Listing agent Bert Checa License #SL3085421

    Listing office Lee & Associates - Miami

    Listing date Oct 7, 2024

    Source Crexi

    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 Lee & Associates - Miami

    HighLights

    • Prime location on Biscayne Boulevard in Miami's Biscayne Corridor Submarket, offering excellent accessibility and visibility.
    • High Walk Score of 92, indicating a "Walker's Paradise" with easy access to amenities.
    • Suitable for multi‑tenancy medical office use.
    • Ample parking with 3.00 spaces per 1,000 square feet (127 surface spaces).
    • Well‑served by public transit, with multiple bus lines nearby and two Metrorail stations within a short drive.
    • Strong demographics with high population density and daytime employee count.

    Overview

    Executive Plaza is a five-story Class C medical office building located at 3000 Biscayne Boulevard in Miami's Biscayne Corridor Submarket. Constructed in 1965, the masonry structure offers multi-tenancy across 59,259 square feet. The building features two elevators and a slab-to-slab height of 9 feet. Parking is available at a ratio of 3.00 spaces per 1,000 square feet, totaling 127 surface parking spaces. Situated in an urban environment along Biscayne Boulevard, a major Miami thoroughfare, the property benefits from high accessibility and visibility. The location has a Walk Score of 92, signifying a "Walker's Paradise" with convenient access to amenities. Public transportation options include multiple nearby bus lines and two Metrorail stations within a short drive. The area exhibits strong demographics, characterized by a high population density and a substantial daytime employee count, making the site attractive for medical office use.
    Property Profile Location Intelligence

    Current Use by Public Records

    silkn usa Big Box & Wholesale Store Nova Point of Sale (Bike/Boat/Book/etc) Store Community Justice Project, ... Law Firm Rapid Media Advertising Advertising Agency Infrared Sauna Wholesaler ... Corporate Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • EdgeWater Pet Clinic — 162 NE 25th St Suite 102, Miami, FL 33137
    • Helpet Veterinary Center — 222 NE 25th St #105, Miami, FL 33137
    • Veterinary Emergency Group — 2707 Biscayne Blvd, Miami, FL 33137
    • GoodVets Wynwood — 60 NW 29th St, Miami, FL 33127
    • Banfield Pet Hospital — 3101 N Miami Ave Ste 110, Miami, FL 33127

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.190156
    Latitude
    25.805696

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    FAQs

    What type of property is this?
    Medical Office Space - Five-story medical office building in Miami's Biscayne Corridor.
    Where is this medical office space located?
    The property is located at 3000 Biscayne Blvd Miami, FL.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: Prime location on Biscayne Boulevard in Miami's Biscayne Corridor Submarket, offering excellent accessibility and visibility.; High Walk Score of 92, indicating a "Walker's Paradise" with easy access to amenities.; Suitable for multi‑tenancy medical office use.
    (786) 473-9227 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bert Checa
    Bert Checa
    Real Estate License ID: SL3085421
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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