Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    6705 Red Rd Miami, FL 33143
    Back to Search
    Property profile & analytics

    6705 Red Rd Miami, FL 33143

    View on Map
    • Office properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Maria Gundian, DMD / Dental Office
    • Donald D. Wilson Jr., CPA, PA / Accounting Firm / Tax Preparation
    • Arrhythmia Management Institute of South Florida / Medical Clinic
    • Mariela Cogorno MD / Spa & Massage Center / Alternative Medicine Practice
    • Jose Rodriguez-Cepero, DDS / Dental Office

    Property Details for 6705 Red Rd

    Year built
    2007
    Property type
    Office properties & Spaces
    Property subtype
    Apartment buildings

    Description

    This exceptional 1386-square-foot, end-unit office space in the prestigious Plaza San Remo building in Coral Gables, Florida, presents a unique investment opportunity. Built in 2007, this one-story, 6705 Red Road #522 property is ideally suited for medical or professional practices. The space boasts two bright doctor's offices with ample natural light, two exam rooms, and a versatile third office. A unique feature is the direct access door from the back office to the parking area, enhancing convenience for both staff and clients. The spacious waiting room features large windows, creating a welcoming atmosphere. The unit includes a private restroom and a kitchenette/lunchroom with a view, adding to employee comfort. A custom-built reception desk with a reception window ensures privacy and efficiency. The sale includes two valuable private parking spaces on the 4th level, adding $100,000 to the overall value. The building offers free parking for patients and guests. The fifth floor provides direct access to the hallway from the parking lot. This meticulously designed space combines luxury, functionality, and prime location, making it an exceptional investment opportunity. Showings are by appointment only. Asking price is $1,400,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2852
    Latitude
    25.7061

    Comparable in this City

    • Value Estimation by Request

      7243 63Rd Ct

      Multifamily properties
      7243 63Rd Ct, South Miami, FL 33143
      View Details
    • Value Estimation by Request

      7245 57Th Ct

      Medical Office Space
      7245 57Th Ct, South Miami, FL 33143
      View Details
    • Value Estimation by Request

      6141 Sunset Dr

      Office properties & Spaces
      6141 Sunset Dr, South Miami, FL 33143
      View Details
    • Value Estimation by Request

      5957 Sunset Dr

      Office properties & Spaces
      5957 Sunset Dr, South Miami, FL 33143
      View Details
    • Value Estimation by Request

      Artificial Turf Business In Miami

      Office properties & Spaces
      0 Artificial Turf Business In Miami, South Miami, FL 33143
      View Details
    • Value Estimation by Request

      7301 57Th Ct

      Office Units
      7301 57Th Ct, South Miami, FL 33143
      View Details

    Similar Nearby for Sale

    • $3,250,000

      Commercial Condo Near Hospitals

      Commercial condominium near hospitals and transportation.
      6141 Sunset Dr, South Miami, FL 33143
      View Details
    • $10,900,000

      Meticulously Maintained Dadeland Office Building

      Two-story office building in Dadeland Pavilion with ample parking.
      6900 SW 80Th St, Miami, FL 33143
      View Details
    • $10,900,000

      Well-Maintained Dadeland Office Building

      Two-story office building in Dadeland Pavilion with ample parking.
      6900 SW 80Th St, Miami, FL 33143
      View Details
    • Contact for pricing

      South Dixie Highway Commercial Space

      Commercial space for sale on South Dixie Highway.
      8603 South Dixie Hwy, Miami, FL 33143
      View Details
    • Contact for pricing
      2,920 SF

      Office Condo For Sale

      2,920 sq.ft. office condo available for purchase.
      7765 SW 87Th Ave, Miami, FL 33143
      View Details

    Similar Nearby for Lease

    • $61 SF/Yr
      2,656 SF

      Prime Dadeland Office Space

      2,656 sq ft Office, Lease or Buy
      8390 72Nd Ave, Miami, FL 33143
      View Details
    • $0.02 SF/Yr
      33,000 SF

      South Miami Office Building

      33,000 SF Single-Tenant Office
      7090 59 Pl, South Miami, FL 33143
      View Details
    • $3,250 /Mo

      Duplex West Side Rental

      3 bed, 3 bath duplex near University of Miami.
      5831 SW 62Nd St WEST, Miami, FL 33143
      View Details
    • Contact for pricing

      Remodeled Office Space for Lease

      Ground floor office perfect for medical, retail, or professional use.
      6141 Sunset Dr, South Miami, FL 33143
      View Details
    • $55 SF/Yr

      South Miami Medical Office Suite

      Ground-floor medical office near South Miami Hospital and Metrorail.
      6141 Sunset Dr, South Miami, FL 33143
      View Details
    • $0.87 SF/Yr
      20,614 SF

      Prime Medical Office Space for Lease

      High-end, single-tenant medical office
      7245 57 Ct, South Miami, FL 33143
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6705 Red Rd
    Miami, FL 33143
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    6705 Red Rd, Miami, FL, 33143
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!