Licensed Assisted Living
New
For Sale
$1,000,000
9760 Memorial Rd, Cutler Bay, FL 33157
COMMERCIAL - Cutler Bay, FL
Property Size1,647 SF
Lot Size0.20 Acres
Price / SF$607.16
Days on Market7
Property Features for 9760 Memorial Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0100
Subdivision
60
Standard status
Active
APN
36-60-04-010-0020
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
PINE TREE MANOR SEC 3 PB 65-97 LOT 2 BLK 10 LOT SIZE 78.000 X 110 F/A/U 30-6004-010-0020 COC 24260-4228 12 2005 1
Legal Description
PINE TREE MANOR SEC 3 PB 65-97 LOT 2 BLK 10 LOT SIZE 78.000 X 110 F/A/U 30-6004-010-0020 COC 24260-4228 12 2005 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Flooring type
Tile - Ceramic
Building materials
Block
Listing Agency:
Canvas Real Estate
(954) 332-7121
Listed By:
Heriberto Rios · License #3304847
(954) 646-3222
Added: Aug 13
Changed: Aug 19
Last Checked: Aug 19 at 10:06PM
MLS# A12017365
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This assisted living facility accommodates 6 beds within 1,647 square feet of living area on an 8,525-square-foot lot. The residence has operated continuously since 2019 and is fully occupied. A current, transferable license and existing resident contracts are included, supporting continuity for a new owner. Additional resident services are also in place.
The property at 9760 Memorial Rd in Cutler Bay, FL 33157, was built in 1958 and features block construction, ceramic tile flooring, central heating, central air, public water, and public sewer. Recent property improvements include impact-resistant windows, a new roof, and a backup generator.
The property at 9760 Memorial Rd in Cutler Bay, FL 33157, was built in 1958 and features block construction, ceramic tile flooring, central heating, central air, public water, and public sewer. Recent property improvements include impact-resistant windows, a new roof, and a backup generator.
Key Highlights
- 6‑bed assisted living facility with full occupancy
- Current transferable license and existing resident contracts
- 1,647 square feet of living area on an 8,525‑square‑foot lot
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
$30,360
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
3.04%
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%
$607,200
$607.2K
Cap Rate 7%
$433,714
$433.7K
Cap Rate 9%
$337,333
$337.3K
Market Conditions
NOI Build-Up for 1,647 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
$58.1K $35.28/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$55.2K $33.52/SF
− OpEx
−$24.8K −$15.08/SF
NOI
$30.4K $18.43/SF
Area
ZIP 33157
Vacancy
5.00%
Lease Rate
$35.28 /SF/Yr
Expense Ratio
45.00%
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%
$607,200
Cap Rate 7%
$433,714
Cap Rate 9%
$337,333
Alternative Uses
Best Use
Apartment 5plus
$433.7K
$379.5K – $506.0K
NOI $30,360 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$835.6K
$731.1K – $974.9K
NOI $58,491 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Balanced
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Operating care residence with transferable licensing and active resident agreements.
Where is this assisted living facility located?
The property is located at 9760 Memorial Rd Cutler Bay, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 6‑bed assisted living facility with full occupancy; Current transferable license and existing resident contracts; 1,647 square feet of living area on an 8,525‑square‑foot lot
