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    15315 Dixie Hwy Palmetto Bay, FL 33157

    Sponsored
    For Lease
    $0.01 SF/Yr

    Palmetto Bay Office: 29,000 SF, Move-In Ready

    Lot size:
    29,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 29,000 square foot office space, located at 15315 S Dixie Hwy #300 in Palmetto Bay, Florida (zip code 33157), is immediately available and move-in ready. The single-tenant property boasts a prime location with direct frontage on South Dixie Highway (US 1), offering unparalleled visibility and accessibility. The building is zoned 6200 and its APN is 33-50-28-064-0010. Convenient access to both South Dixie Highway (US 1) and Florida's Turnpike ensures effortless commuting for employees and clients. A significant advantage is the rooftop parking, complete with a covered walkway providing direct access to the office spaces. The property's strategic location is further enhanced by its proximity to the new South Miami-Dade Busway, situated directly across the street, providing excellent public transportation options. This single-suite building presents a rare opportunity for a business seeking a substantial, well-located, and immediately available office space in the thriving Palmetto Bay market. The property is ready for immediate occupancy.

    Property Features for 15315 Dixie Hwy

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    29,000 SF

    Unit(s) available at that property

    Space
    300
    Size
    29,000 SF
    Rate per SF
    $0.01

    We can help!

    Listing Contact
    Edward Schmidt

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Quick Cash Auto ... Loan Agency Trevor Lawn Care Lawn Care Service getsemany, INC. Consultant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmetto Bay
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.3410684
    Latitude
    25.6277988

    Nearby Comparable

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    Nearby Similar for Lease

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      Palmetto Bay Retail Opportunity

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    FAQs

    What type of property is this?
    Office Property / Space - Palmetto Bay Office: 29,000 SF, Move-In Ready
    Where is this office property / space located?
    The property is located at 15315 Dixie Hwy Palmetto Bay, FL.
    What is the lease rate?
    The lease rate is $0.01 SF/Yr.
    Request Owner's contact information
    15315 Dixie Hwy Palmetto Bay, FL 33157
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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.

    More about this property
    15315 Dixie Hwy Palmetto Bay, FL 33157
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    We can help!
    Listing Contact
    Edward Schmidt
    Real Estate License ID: 0473167
    Learn more
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