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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3500 17Th Ave Miami, FL 33142

    • Office buildings
    • 11,535 SF
    • 0.48 lot acres
    For Sale
    View listing
    $5,300,000
    Last Sale
    Apr 07, 2021
    $1,125,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4869124
    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

    • Blemur Pierre MD / Pediatrician
    • Med Plus Medical Center / Family Practice Physician / Doctor
    • Dr. Laila Chagani / Internist / Practitioner Service Location
    • Dr. Alexander Blaise / Practitioner Service Location / Podiatrist
    • Mcnadental / Dentist

    Property Details for 3500 17Th Ave

    Year built
    1987
    Construction
    CONCRETE
    Lot size
    0.48 lot acres
    Property size
    11,535 SF
    Zone code
    6100:COMMERCIAL,NEIGHBRHD
    Property type
    Office buildings
    APN
    01-3127-009-0120
    APU
    131270090120

    Description

    This 11,600 sq ft, two-tenant medical office building in Miami's Allapattah neighborhood is situated on a 21,060 sq ft lot with 173 feet of frontage on NW 17th Ave. Built in 1987 and renovated three years ago, the Class B property boasts 100% occupancy with a current NOI of $159,000 and a pro-forma NOI of $406,000, reflecting a 3% cap rate and a pro-forma cap rate of 7.66%. The asking price is $5,300,000 ($456.90/sq ft), and the land value is $251/sq ft. Currently leased under a gross lease with credit-rated tenants on a multi-tenant lease with rent bumps, the leases have a remaining term of 0.8 years, expiring August 31, 2025. The T6-8-O zoning allows for mid-rise development with potential for up to 72 multi-family units. This prime location offers significant value-add and development upside, benefiting from Allapattah's rapid expansion and strong demand. The property is located near major neighborhoods and offers ample parking. This is an owner-user opportunity with significant potential for future appreciation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,390,000
      ML approach
      $1,490,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,581,000
      Market price range: $861k - $3.40M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2242
    Latitude
    25.8089
    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
    $37,482
    $1,368,900
    $841,649
    $2,210,549
    -
    $1,368,900
    $841,649
    $2,210,549

    Comparable in this City

    • Value Estimation by Request
      1,119 SF

      2304 36th St

      OFFICE BUILDING (MULTI-STORY) • 1,119 SF
      2304 36th St, Miami, FL 33142
      View Details
    • Value Estimation
      $1,720,000
      7,285 SF

      2987 46th St

      OFFICE BUILDING (MULTI-STORY) • 7,285 SF
      2987 46th St, Miami, FL 33142-4425
      View Details
    • Value Estimation
      $4,805,000
      20,564 SF

      2985 54th St

      PROFESSIONAL BUILDING • 20,564 SF
      2985 54th St, Miami, FL 33142-2827
      View Details
    • Value Estimation
      $3,200,000
      11,072 SF

      2901 17th Ave

      PROFESSIONAL BUILDING • 11,072 SF
      2901 17th Ave, Miami, FL 33142-6631
      View Details
    • Value Estimation
      $1,565,000
      3,514 SF

      3533 15th Ave

      OFFICE BUILDING (MULTI-STORY) • 3,514 SF
      3533 15th Ave, Miami, FL 33142-5571
      View Details
    • Value Estimation
      $1,265,000
      3,862 SF

      3975 Nws Riv Dr

      OFFICE BUILDING • 3,862 SF
      3975 Nws Riv Dr, Miami, FL 33142-5639
      View Details

    Similar Nearby for Sale

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      Miami Mixed-Use Redevelopment Opportunity

      High-visibility mixed-use property in Allapattah with redevelopment potential.
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    Similar Nearby for Lease

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      Freestanding Office Building in Allapattah

      Freestanding office building in a bustling Miami neighborhood for rent.
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    • $28 SF/Yr
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      Allapattah Flex Office Space Available

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    • $25 SF/Yr
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      Miami Retail Space: 4100 NW 17th Ave

      High-Visibility Retail Opportunity
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      View Details
    • Contact for pricing
      3,150 SF

      Retail/Office/Restaurant Space in Allapattah

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    • $2,300 /Mo

      Office Space with Parking Included

      Office space with parking, car wash, ideal for car-related businesses.
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      View Details
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    3500 17Th Ave
    Miami, FL 33142
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    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
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