Class A Medical Office
For Sale
$15,850,000
9990 56 St, Miami, FL 33165
New construction Class A medical office building with floor-to-ceiling glass and space for customized interior buildout.
Property Size22,657 SF
Lot Size1.25 Acres
Price / SF$699.56
Days on Market99
Property Features for 9990 56 St
General Information
Standard status
Active
Size
22,657 SF
Class
A
Lot size
1.25 Acres
Property subtype
Office
Amenities
3
Listing Agency:
Chomat Realty Group
(786) 395-6626
Listed By:
Margot Chomat · License #A12037636
(786) 395-6626
Source:
Xome
Added: May 5
Changed: Aug 8
Last Checked: Aug 11 at 5:38AM
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 Chomat Realty Group
Investment Insights
Based on property information with market context.
New construction Class A medical/office building totaling approximately 22,658 square feet on approximately 1.25 acres. The building features a floor-to-ceiling glass design and high-end modern construction, and it is positioned to allow customized interior buildout.
The property offers parking at approximately 5 spaces per 1,000 square feet. The design is described as an excellent fit for medical practices, outpatient services, surgical centers, wellness concepts, or professional office users.
As offered, the asset is intended for owners and tenants seeking a modern medical/office environment with the ability to tailor interiors to their specific operating needs.
The property offers parking at approximately 5 spaces per 1,000 square feet. The design is described as an excellent fit for medical practices, outpatient services, surgical centers, wellness concepts, or professional office users.
As offered, the asset is intended for owners and tenants seeking a modern medical/office environment with the ability to tailor interiors to their specific operating needs.
Key Highlights
- 22,658 SF new construction Class A medical/office building
- Located on approximately 1.25 acres
- Floor‑to‑ceiling glass design
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
$649,973
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
4.10%
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%
$12,999,460
$13.0M
Cap Rate 7%
$9,285,329
$9.3M
Cap Rate 9%
$7,221,922
$7.2M
Market Conditions
NOI Build-Up for 22,657 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
$1.02M $45.00/SF
− Vacancy
−$152.9K −$6.75/SF
EGI
$866.6K $38.25/SF
− OpEx
−$216.7K −$9.56/SF
NOI
$650.0K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /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%
$12,999,460
Cap Rate 7%
$9,285,329
Cap Rate 9%
$7,221,922
Alternative Uses
Best Use
Office B
$9.29M
$8.12M – $10.83M
NOI $649,973 @ 7.0% cap · market cap 4.10%
Second Best
Healthcare Medical
$5.36M
$4.69M – $6.25M
NOI $375,200 @ 7.0% cap · market cap 2.37%
Theoretical Best
Specialty Retail
$15.29M
$13.38M – $17.84M
NOI $1,070,553 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - New construction Class A medical office building with floor-to-ceiling glass and space for customized interior buildout.
Where is this medical office space located?
The property is located at 9990 56 St Miami, FL.
What is the asking price?
The asking price for this property is $15,850,000.
What are key features of this property?
This property features: 22,658 SF new construction Class A medical/office building; Located on approximately 1.25 acres; Floor‑to‑ceiling glass design
