Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11120 88th St Ste, Unit 101 Miami, FL 33176-0941

    • Office buildings
    • 1,030 SF
    OFF-MARKET
    Last Sale
    Sep 12, 2024
    $575,000
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    5.5%
    Office buildings
    Location Intelligence
    Property ID
    US18-3889286
    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

    • Wise Braces / Dental Office
    • Kendale Lakes Travel Inc / Travel Agency / Tour Operator
    • Dr. Juan G. Camayd, MD / Pediatrician / Physician
    • Kendall Medical Center / Medical Clinic
    • Dr. Melvyn Sarnow / Pediatrician / Physician

    Property Details for 11120 88th St Ste

    Year built
    1990
    Property size
    1,030 SF
    Zone code
    6900:SEMI PROFESS OFFICE
    Property type
    Office buildings
    APN
    30-5006-024-0061
    APU
    3050060240061

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $575,000
      ML approach
      $575,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $525,000
      6.5%
      $485,000
      7%
      $450,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $429,000
      Market price range: $292k - $503k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $365,000
      Current use
      COMMERCIAL (GENERAL)
      $760,000
      Change: +108% Conversion: Easy
      AUTO REPAIR, GARAGE
      $675,000
      Change: +84% Conversion: Difficult
      RETAIL STORES
      $590,000
      Change: +61% Conversion: Moderate
      MEDICAL BUILDING
      $450,000
      Change: +23% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3755
    Latitude
    25.6859
    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
    $3,985
    $0.00
    $0.00
    $288,400
    -
    $0.00
    $0.00
    $288,400

    Comparable in this City

    • Value Estimation by Request
      822 SF

      10765 104th Sta5

      PROFESSIONAL BUILDING • 822 SF
      10765 104th Sta5, Miami, FL 33176-8164
      View Details
    • Value Estimation
      $13,240,000
      56,169 SF

      8980 97th Ave

      PROFESSIONAL BUILDING • 56,169 SF
      8980 97th Ave, Miami, FL 33176-1936
      View Details
    • Value Estimation by Request
      386 SF

      11020 88th St Ste 110c

      OFFICE BUILDING (MULTI-STORY) • 386 SF
      11020 88th St Ste 110c, Miami, FL 33176-1246
      View Details
    • Value Estimation
      $4,935,000
      20,716 SF

      10860 88th St

      PROFESSIONAL BUILDING • 20,716 SF
      10860 88th St, Miami, FL 33176-2680
      View Details
    • Value Estimation by Request
      580 SF

      11160 88th St Ste, Unit 110

      PROFESSIONAL BUILDING • 580 SF
      11160 88th St Ste, Miami, FL 33176-0949
      View Details
    • Value Estimation
      $34,750,000
      37,890 SF

      11410 Kendall Dr

      PROFESSIONAL BUILDING • 37,890 SF
      11410 Kendall Dr, Miami, FL 33176-1031
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Spacious East Kendall Office Condo

      Furnished office condo in East Kendall with multiple offices.
      11120 N Kendall Dr, Miami, FL 33176
      View Details
    • $599,000

      Kendall Area Ground-Level Office Suite

      Prime office suite in a high-traffic Kendall location.
      9560 SW 107Th Ave, Miami, FL 33176
      View Details
    • $1,200,000
      2,120 SF

      Prime Kendall Dr Office Space

      Spacious Miami Office, Ideal Location
      11050 Kendall Dr, Miami, FL 33176
      View Details
    • $3,900,000

      Miami Multifamily Investment Opportunity

      12-Unit Apartment Complex, High ROI Potential
      11440 Lincoln Blvd, Miami, FL 33176
      View Details
    • New
      $650,000
      0.14 Acres

      Residential Lot in Kendall, Florida

      6,098 sq ft lot requiring variance for construction.
      128 Sw 128Th Ct, Kendall, FL 33176
      View Details
    • $300,000

      Miami Restaurant - Turnkey Opportunity

      Established Argentinian Restaurant, High Traffic Area
      10471 Kendall Dr, Miami, FL 33176
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      22,884 SF

      Class B Office Building Suites

      Professional office suites for lease near major retailers.
      8925 SW 148Th St, Miami, FL 33176
      View Details
    • $5,654 /Mo

      Renovated Medical Office Space

      Fully renovated medical office space available for lease in Miami.
      9380 SW 150Th St, Miami, FL 33176
      View Details
    • $34 SF/Yr

      Kendall Office Space with Services

      Move-in ready office space in Kendall with all services included.
      11240 SW 88Th St, Miami, FL 33176
      View Details
    • $420 /Mo
      8,978 SF

      Kendall Dr Office Space - 8,978 SF

      Prime Kendall office, single tenant, ample parking.
      9595 Kendall Dr, Miami, FL 33176
      View Details
    • $11 SF/Yr
      2,900 SF

      Kendall Dr Medical Office Suite

      Miami Office Space: 2,900 SF, 6 Parking
      11140 Kendall Dr, Miami, FL 33176
      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.
    11120 88th St Ste, Unit 101
    Miami, FL 33176-0941
    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

    Google sign-in failed. Please try again or use another login method.