Medical and Professional Office
For Sale
$1,600,000
B-7374 Sw 93rd Ave, Miami, FL 33174
Office condominium with two separate offices, 10 assigned covered parking spaces, and a balcony totaling 2,756 sq ft.
Property Size2,756 SF
Price / SF$580.55
Days on Market223
Property Features for B-7374 Sw 93rd Ave
General Information
Standard status
Active
Size
2,756 SF
Total Parking Spaces
10
Additional Details
Highway Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$18,144
Listing Agency:
Coldwell Banker Realty
(305) 253-2800
Listed By:
Daniel Martinez · License #0560978
(305) 975-4205
Source:
Exprealty
Added: Jan 26
Changed: Sep 5
Last Checked: Sep 6 at 3:37PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This office condominium is designed for medical or professional use and is moderately and beautifully decorated. The interior is currently divided into two separate offices, with one office occupied by the owner and the other leased. That configuration supports an owner-user arrangement with rental income, or the option to combine both offices into a single larger operation.
The property includes 10 assigned covered parking spaces. It is located approximately 1½ miles from Baptist Hospital, minutes from South Miami, and offers easy access to major expressways.
As reflected in the architect’s plan, the total area is 2,756 sq ft, including the balcony.
The property includes 10 assigned covered parking spaces. It is located approximately 1½ miles from Baptist Hospital, minutes from South Miami, and offers easy access to major expressways.
As reflected in the architect’s plan, the total area is 2,756 sq ft, including the balcony.
Key Highlights
- Office condominium totaling 2,756 sq ft (including balcony) per architect’s plan
- Two separate offices: one owner‑occupied and one leased, creating rental income
- Can be configured for an owner‑user to occupy part while renting the other, or combined into one larger operation
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
$79,063
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
4.94%
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%
$1,581,260
$1.6M
Cap Rate 7%
$1,129,471
$1.1M
Cap Rate 9%
$878,478
$878.5K
Market Conditions
NOI Build-Up for 2,756 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
$124.0K $45.00/SF
− Vacancy
−$18.6K −$6.75/SF
EGI
$105.4K $38.25/SF
− OpEx
−$26.4K −$9.56/SF
NOI
$79.1K $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%
$1,581,260
Cap Rate 7%
$1,129,471
Cap Rate 9%
$878,478
Alternative Uses
Best Use
Office B
$1.13M
$988.3K – $1.32M
NOI $79,063 @ 7.0% cap · market cap 4.94%
Second Best
Healthcare Medical
$652.0K
$570.5K – $760.7K
NOI $45,639 @ 7.0% cap · market cap 2.85%
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,222 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Explore this area
Business Placement
Demographics for 33174, FL
32,962
Population
11,474
Households
2.9
Avg Household Size
42
Median Age
29%
College-Educated
75%
High-School Grad
3.1 sq mi
ZIP Area
10,633
Density / Sq Mi
$59,599
Median Household Income
$30,210
Median Earnings
$1,786
Median Rent
$379,000
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?
Office units - Office condominium with two separate offices, 10 assigned covered parking spaces, and a balcony totaling 2,756 sq ft.
Where is this office units located?
The property is located at B-7374 Sw 93rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Office condominium totaling 2,756 sq ft (including balcony) per architect’s plan; Two separate offices: one owner‑occupied and one leased, creating rental income; Can be configured for an owner‑user to occupy part while renting the other, or combined into one larger operation
