Medical Office in Coral
For Sale
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9299 SW 152nd St # 200, Palmetto Bay, FL 33157
Renovated medical suite near Jackson South Medical Center.
Property Size3,018 SF
Price / SF$530.12
Days on Market1045
Property Features for 9299 SW 152nd St # 200
General Information
Standard status
Active
Size
3,018 SF
Property subtype
Office
Building Details
Year Built
1978
Listing Agency:
Keywee Realty
Listed By:
Lisa Wang · License #3373694
Source:
Crexi
Added: Oct 28, 2023
Changed: Aug 16
Last Checked: Sep 5 at 4:03PM
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 Keywee Realty
Investment Insights
Based on property information with market context.
This 3,018 square foot medical office is located in Coral Reef Medical Park, situated on the corner of US1 and SW 152 Street, directly across from Jackson South Medical Center. It is also located 2 miles east of the Florida Turnpike, providing excellent transportation connections and high traffic exposure. The renovated medical suite features 12 doctor offices/exam rooms, two spacious waiting areas, two dedicated receptionist rooms, one fully equipped kitchen, three bathrooms, one storage area, and one shower. A new roof and a state-of-the-art elevator were installed in 2023. The medical suite is 95% occupied by tenants and has a 7.32% cap ratio.
Key Highlights
- Prime location directly across from Jackson South Medical Center with high traffic exposure.
- High‑yield investment opportunity with a 7.32% cap rate and 95% occupancy.
- Recently renovated 3,018 sqft medical suite with 12 exam rooms/doctor offices.
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
$81,255
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
5.08%
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%
$1,625,100
$1.6M
Cap Rate 7%
$1,160,786
$1.2M
Cap Rate 9%
$902,833
$902.8K
Market Conditions
NOI Build-Up for 3,018 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
$139.8K $46.32/SF
− Vacancy
−$31.5K −$10.42/SF
EGI
$108.3K $35.90/SF
− OpEx
−$27.1K −$8.97/SF
NOI
$81.3K $26.92/SF
Area
ZIP 33157
Vacancy
22.50%
Lease Rate
$46.32 /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%
$1,625,100
Cap Rate 7%
$1,160,786
Cap Rate 9%
$902,833
Alternative Uses
Best Use
Office B
$1.16M
$1.02M – $1.35M
NOI $81,255 @ 7.0% cap · market cap 5.08%
Second Best
Healthcare Medical
$783.7K
$685.7K – $914.3K
NOI $54,856 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,181 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33157, FL
68,069
Population
23,176
Households
2.9
Avg Household Size
42
Median Age
33%
College-Educated
86%
High-School Grad
14.9 sq mi
ZIP Area
4,568
Density / Sq Mi
$80,364
Median Household Income
$38,803
Median Earnings
$1,493
Median Rent
$478,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated medical suite near Jackson South Medical Center.
Where is this medical office space located?
The property is located at 9299 SW 152nd St # 200 Palmetto Bay, FL.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: Prime location directly across from Jackson South Medical Center with high traffic exposure.; High‑yield investment opportunity with a 7.32% cap rate and 95% occupancy.; Recently renovated 3,018 sqft medical suite with **12 exam rooms/doctor offices**.
