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    8500 117th Ave Rd Miami, FL 33183-4841
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    Property profile & analytics

    8500 117th Ave Rd Miami, FL 33183-4841

    View on Map
    • Office buildings
    • 123,198 SF
    • 6.00 lot acres
    Off-Market
    Property ID
    US18-9349944
    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

    • Barth A. Green, M.D., F.A.C.S. / Physician
    • FedEx Drop Box / Postal Service / Courier Service
    • Baptist Health Corporate Center / Community Health Centre
    • ATM / Atm

    Property Details for 8500 117th Ave Rd

    Year built
    1986
    Construction
    CONCRETE
    Lot size
    6.00 lot acres
    Property size
    123,198 SF
    Zone code
    6400:COMMERCIAL,CENTRAL
    Property type
    Office buildings
    APN
    30-4936-010-0020
    APU
    3049360100020

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $62,830,000
      6.5%
      $58,000,000
      7%
      $53,855,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $81,898,000
      Market price range: $38.8M - $170M
      AI Estimate
      $62,958,000
      Market price range: $20.7M - $152M

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3827
    Latitude
    25.6878
    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
    $385,593
    $9,410,364
    $14,389,636
    $23,800,000
    -
    $9,410,364
    $14,389,636
    $23,800,000

    Comparable in this City

    • 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
    • Value Estimation
      $760,000
      666 SF

      8501 124th Ave Ste 101e

      OFFICE BUILDING (MULTI-STORY) • 666 SF
      8501 124th Ave Ste 101e, Miami, FL 33183-4631
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Kendall Area Office Building

      Centrally located office building in Kendall with ample parking.
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      Established Miami Tree Service Business

      Profitable tree service business with equipment and client base.
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      Well-Located Office Space in Kendall

      Cozy office space in a convenient, central Kendall location.
      5600 SW 135Th Ave, Miami, FL 33183
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      Corner Class A Medical Office

      Bright, spacious office in Kendall Village. Ideal for medical/professional use.
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      Miami Office Space: Kendall Village

      Class A Office Condo, Prime Kendall Location
      8501 124Th Ave, Miami, FL 33183
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    Similar Nearby for Lease

    • Contact for pricing

      KFC Outparcel in Kendale Lakes

      KFC outparcel in established shopping center, available for sublease.
      14091 Southwest 88Th St, Miami, FL 33183
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    • Contact for pricing

      Office Space with Ample Parking

      Full-service lease with on-site parking and recent improvements.
      7990 SW 117Th 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
    • Contact for pricing
      7,743 SF

      Retail Space in Open-Air Center

      Retail opportunity in established open-air shopping center.
      8505 Mills Dr, Miami, FL 33183
      View Details
    • Contact for pricing

      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
      6,100 SF

      Open-Air Lifestyle Center Retail Space

      80-acre open-air center with retail and dining options.
      8405 Mills Dr, Miami, FL 33183
      View Details
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    Miami, FL 33183-4841
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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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