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    Property profile & analytics

    8353 124th St Miami, FL 33156-5851

    • Office buildings
    • 29,438 SF
    • 1.20 lot acres
    OFF-MARKET
    Value Estimations
    $8,180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-8711978
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Franconi Raymond J / Dental Office
    • Towncare Dental of Pinecrest: Oliver Francisco DDS / Dental Office
    • Anita Pandey, DMD / Dental Office
    • Pandy Anita DDS / Dental Office
    • Rigoberto Rodriguez MD / Physician

    Property Details for 8353 124th St

    Year built
    1971
    Construction
    CONCRETE
    Lot size
    1.20 lot acres
    Property size
    29,438 SF
    Zone code
    6900:SEMI PROFESS OFFICE
    Property type
    Office buildings
    APN
    30-5015-036-0010
    APU
    3050150360010

    Description

    This exceptional Miami medical office building, located at 8353 SW 124th St, offers a compelling investment opportunity. The 20,278 square foot, two-story building boasts 23 tenants in a 100% occupied, stabilized environment. Built in 1971 and extensively renovated in 2022, the property features hurricane impact windows, a resealed roof, and ample parking (73 spaces) on a 0.61-acre lot. The property benefits from a prime location in Miami-Dade County, near US1 and the Pinecrest area, ensuring high visibility and accessibility. The current zoning (RU-5A, SEMI-PROFESSIONAL OFFICE DISTRICT) allows for a variety of uses. With a gross lease structure and 4% annual rent bumps, this fee-simple ownership presents a consistent income stream. The building's strong tenant base, predominantly medical professionals, provides long-term stability and high occupancy rates. This turnkey investment offers significant appreciation potential in a thriving Miami market. The asking price is $6,700,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,351,000
      Market price range: $11.4M - $20.3M
      AI Estimate
      $5,773,000
      Market price range: $2.30M - $16.7M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $12,930,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3296
    Latitude
    25.6556
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $77,980
    $3,332,212
    $2,042,571
    $5,374,783
    -
    $3,332,212
    $2,042,571
    $5,374,783

    Comparable in this City

    • Value Estimation
      $1,560,000
      3,848 SF

      9210 73rd Rd

      OFFICE BUILDING (MULTI-STORY) • 3,848 SF
      9210 73rd Rd, Pinecrest, FL 33156-2914
      View Details
    • Value Estimation
      $4,550,000
      16,548 SF

      9350 74th Ave

      OFFICE BUILDING (MULTI-STORY) • 16,548 SF
      9350 74th Ave, Miami, FL 33156
      View Details
    • Value Estimation
      $820,000
      1,355 SF

      8950 74th Ct Ste, Unit 1210

      OFFICE BUILDING (MULTI-STORY) • 1,355 SF
      8950 74th Ct Ste, Miami, FL 33156-3170
      View Details
    • Value Estimation
      $510,000
      845 SF

      8950 74th Ct Ste, Unit 1504

      OFFICE BUILDING (MULTI-STORY) • 845 SF
      8950 74th Ct Ste, Miami, FL 33156-3174
      View Details
    • Value Estimation
      $605,000
      1,002 SF

      8950 74th Ct Ste, Unit 1507

      OFFICE BUILDING (MULTI-STORY) • 1,002 SF
      8950 74th Ct Ste, Miami, FL 33156-3174
      View Details
    • Value Estimation
      $825,000
      1,367 SF

      8950 74th Ct Ste, Unit 1509

      OFFICE BUILDING (MULTI-STORY) • 1,367 SF
      8950 74th Ct Ste, Miami, FL 33156-3174
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,217 SF

      Dadeland Area Office Building

      Class B office building in a central, accessible location.
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    • $3,250,000
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      Free-standing commercial building with high visibility and exceptional location.
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      30,000 SF

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      Renovated office building with on-site management and ample parking.
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      Office building with modern renovations and convenient access to amenities.
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      Freestanding Office Building For Sale

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    Similar Nearby for Lease

    • Contact for pricing
      2,821 SF

      Class A Office Space Available

      Boutique Class A office space with modern amenities.
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      View Details
    • $47 SF/Yr
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      Class A Office Space Available

      Premier mixed-use complex with on-site hotel and amenities.
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      View Details
    • $12,000 /Mo

      Pinecrest Retail Space on Dixie

      Prime retail space in the heart of Pinecrest available for lease.
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    • $3,600 /Mo

      Galloway Professional Center Office Space

      Office space near Baptist Hospital with medical use allowed.
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      View Details
    • $4,750 /Mo

      Medical Office Near Baptist Hospital

      Turnkey medical office space directly across from Baptist Hospital.
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      View Details
    • Contact for pricing
      128,871 SF

      Kendall I Plaza: Office Space for Lease

      128,871 SF Office, Prime Kendall Location
      8603 Dixie Hwy, Miami, FL 33156
      View Details
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    Miami, FL 33156-5851
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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
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