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

    6660 117th Ave Miami, FL 33183-2826

    • Medical offices
    • 5,954 SF
    • 0.53 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2022
    $2,244,300
    Value Estimations
    $2,205,000
    Show details
    Cap Rate Potential
    4.6%
    Medical offices
    Location Intelligence
    Property ID
    US18-1598800
    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

    • Dr. Edward Watson / Gynecologist
    • Mr. Sanjay Smith / Ophthalmologist
    • Dr. Juan Ayala-Haedo / Ophthalmologist / Surgeon
    • Dr. Jorge Bruno / Ophthalmologist
    • SANJAY NEDAL SMITH / Ophthalmologist

    Property Details for 6660 117th Ave

    Year built
    1988
    Construction
    CONCRETE
    Lot size
    0.53 lot acres
    Property size
    5,954 SF
    Zone code
    6200:COMMERCIAL,ARTERIAL
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    30-4925-000-0774
    APU
    3049250000774

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,165,000
      ML approach
      $2,175,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,645,000
      6.5%
      $1,515,000
      7%
      $1,410,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,615,000
      Current use
      RETAIL STORES
      $3,405,000
      Change: +30% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3828
    Latitude
    25.7062
    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
    $34,961
    $1,035,000
    $1,015,000
    $2,050,000
    -
    $1,035,000
    $1,015,000
    $2,050,000

    Comparable in this City

    • Value Estimation
      $615,000
      4,963 SF

      7100 122nd Ave

      HOMES (RETIRED, NURSING) • 4,963 SF
      7100 122nd Ave, Miami, FL 33183-2608
      View Details
    • Value Estimation
      $1,840,000
      1,529 SF

      8200 117th Ave Ste, Unit 100

      OFFICE BUILDING (MULTI-STORY) • 1,529 SF
      8200 117th Ave Ste, Miami, FL 33183-4825
      View Details
    • Value Estimation
      $1,985,000
      1,945 SF

      8000 117th Ave Ste, Unit 200

      OFFICE BUILDING (MULTI-STORY) • 1,945 SF
      8000 117th Ave Ste, Miami, FL 33183-4809
      View Details
    • Value Estimation
      $1,155,000
      1,013 SF

      8501 124th Ave Ste 102a

      OFFICE BUILDING (MULTI-STORY) • 1,013 SF
      8501 124th Ave Ste 102a, Miami, FL 33183-4631
      View Details
    • Value Estimation
      $1,175,000
      1,031 SF

      8501 124th Ave Ste 208c

      OFFICE BUILDING (MULTI-STORY) • 1,031 SF
      8501 124th Ave Ste 208c, Miami, FL 33183-4633
      View Details
    • Value Estimation
      $830,000
      729 SF

      8501 124th Ave Ste 208b

      OFFICE BUILDING (MULTI-STORY) • 729 SF
      8501 124th Ave Ste 208b, Miami, FL 33183-4633
      View Details

    Similar Nearby for Sale

    • $1,400,000

      Corner Class A Medical Office

      Bright, spacious office in Kendall Village. Ideal for medical/professional use.
      8501 SW 124Th Ave, Miami, FL 33183
      View Details
    • $1,400,000

      Class A Medical/Professional Office

      Corner Class A medical/professional office in Kendall Village, Miami.
      8501 Sw 124Th Ave, Miami, FL 33183
      View Details
    • Contact for pricing

      Class A Office Suite

      Well-designed office suite suitable for various business uses.
      8000 SW 117Th Ave, Miami, FL 33183
      View Details
    • Contact for pricing

      Individual Desk Work Space

      Flexible, individual desk spaces with 24/7 access and no contracts.
      5600 SW 135Th Ave, Miami, FL 33183
      View Details
    • Contact for pricing
      36,400 SF

      Kendall Area Office Building

      Centrally located office building in Kendall with ample parking.
      7990 SW 117Th Ave, Miami, FL 33183
      View Details
    • $700,000

      Miami Executive Office Space for Sale

      Established Tree Service Business - High ROI Potential
      0 Tree Services In Miami, Miami, FL 33183
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      2,399 SF

      Kendall Medical Office Space Available

      Prime medical office space in a well-established professional building.
      8200 SW 117Th Ave, Miami, FL 33183
      View Details
    • $32 SF/Yr
      36,400 SF

      Prime Kendall Office Space

      Miami Office Building - 36,400 SF
      7990 117 Ave, Kendall, FL 33183
      View Details
    • $0.52 SF/Yr
      30,000 SF

      Miami Office Building: 30,000 SF

      Class A Office, Single Tenant, Move-In Ready
      8501 124Th Ave, Miami, FL 33183
      View Details
    • Contact for pricing
      2,007 SF

      Open-Air Lifestyle Center Space

      Retail space in an 80-acre open-air lifestyle center.
      8520-8528 Mills Dr, Miami, FL 33183
      View Details
    • Contact for pricing
      293,001 SF

      Kendale Lakes Plaza Retail Center

      Prime Miami Retail Space - High Traffic Area
      0 137Th Ave, Miami, FL 33183
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in TJ Maxx Plaza

      Retail space available in high-density West Kendall market.
      7200-7572 SW 117Th Ave, Miami, FL 33183
      View Details
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    Miami, FL 33183-2826
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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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