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    3663 S Miami Ave Miami, FL 33133
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    3663 S Miami Ave, Miami, FL 33133

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    • Hospitals
    • 663,311 SF
    • 31.07 lot acres
    For Lease
    $42 SF/Yr
    View Listing →
    Medical Offices Attached to Hospital For Lease
    $42 SF/Yr
    5,501 SF

    Medical Offices Attached to Hospital

    Second-generation medical offices attached to Mercy Hospital for rent.

    3663 S Miami Ave, Miami, FL
    View Listing
    Property ID
    US18-4153968
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mercy Hospital-Radiation Center / Hospital
    • Dr. David N. Alperstein, MD / Physician / Medical Clinic
    • MANJOT KAUR JASSAL / Physician
    • Boating Classes / Training Center
    • Mercy Hospital: Benhacene Assia MD / Physician

    Property Details for 3663 S Miami Ave

    Year built
    1947
    Construction
    CONCRETE
    Lot size
    31.07 lot acres
    Zone code
    8000:COMMUNITY FACILITY
    Property type
    Hospitals
    APN
    01-4114-027-0010
    APU
    141140270010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 2, 2011 $114,589,000 Plantation General Hospital LP Mercy Hospital INC Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2147
    Latitude
    25.7406
    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
    $2,466,163
    $56,841,708
    $63,128,842
    $119,970,550
    -
    $56,841,708
    $63,128,842
    $119,970,550

    Comparable in this City

    • Value Estimation
      $2,355,000
      15,766 SF

      3663 Miami Ave

      HOSPITAL - PRIVATE
      3663 Miami Ave, Miami, FL 33133-4253
      View Details
    • Value Estimation by Request
      8,357 SF

      3442 37Th Ave

      Multifamily properties
      3442 37Th Ave, Miami, FL 33133
      View Details
    • Value Estimation by Request
      2,695 SF

      3719 Thomas Ave

      Restaurants
      3719 Thomas Ave, Miami, FL 33133
      View Details
    • Value Estimation
      $2,390,000
      43,387 SF

      3671 Miami Ave

      HOMES (RETIRED, NURSING)
      3671 Miami Ave, Miami, FL 33133-4253
      View Details
    • Value Estimation by Request
      4,164 SF

      3424 37Th Ave

      Multifamily properties
      3424 37Th Ave, Miami, FL 33133
      View Details
    • Value Estimation by Request

      3344 37Th Ave

      Restaurants
      3344 37Th Ave, Miami, FL 33133
      View Details

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    Similar Nearby for Lease

    • $42 SF/Yr
      28,014 SF

      Medical Office Complex with Sky Bridge

      Two-building medical complex offers direct, conditioned access to Mercy Hospital and valet-assisted patient drop-off.
      3661 South Miami Ave, Miami, FL 33133
      View Details
    • $0.02 SF/Yr
      28,560 SF

      Miami Office Space: 28,560 SF

      Prime Miami office, available June 1st, 2025. Single-tenant occupancy.
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      View Details
    • $12 SF/Yr

      Spacious Unit in Prime Location

      Move-in ready 3-bedroom unit near Coconut Grove and Coral Gables.
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      1,925 SF

      Coconut Grove Office Space Available

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    • $7,500 /Mo
      5,001 SF

      Medical Office in Coconut Grove

      Fully built-out medical office space available for immediate occupancy.
      2482 SW Secoffee Ter, Miami, FL 33133
      View Details
    View Listing
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    Miami, FL 33133
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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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