8925 SW 148Th St, Palmetto Bay, FL 33176
- Office buildings
- 25,135 SF
- 0.92 lot acres
Current Use by Public Records
- Office buildings
Property Details for 8925 SW 148Th St
- Year built
- 1973
- Construction
- CONCRETE
- Lot size
- 0.92 lot acres
- Zone code
- 6100:COMMERCIAL,NEIGHBRHD
- Property type
- Office buildings
- APN
- 33-5021-032-0010
- APU
- 3350210320010
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 17, 2025 | $5,000,000 | 148 Palmetto Professional Plaza LLC | 148 Street Center LLC | Warranty Deed | — |
| Jul 5, 2018 | $4,750,000 | 148 Street Center LLC | Denar Southeast LLC | Warranty Deed | $3.6M · First National Bank Of South Miami |
| Apr 7, 2010 | — | Denar Southeast LLC | Dap Ents LP | Quit Claim Deed · related | — |
| — | — | Denar Southeast LLC | — | Loan Modification · related | $895k · First Nat'l Bk/s Fl |
| — | — | Dap Ents | — | Deed Of Trust · related | $1M · Union Credit Bank |
Description
This two-story, 22,884 square foot Class B office building in Palmetto Bay, Florida, presents a compelling investment opportunity. Located at 8925 SW 148th St, 33176, this multi-tenant property boasts 29 units and 75 parking spaces on a 0.92-acre lot. Currently 77.1% occupied with 23 tenants, the property offers a pro-forma NOI of $526,034 and a pro-forma cap rate of 9.27%. The asking price is $5,675,000 ($247.99/sq ft). Built in 1973, the building recently passed its 50-year recertification. The property features a mix of office suites, primarily under 1,000 square feet, ideal for small businesses. Its strategic location provides easy access to major thoroughfares, including the Palmetto and Dolphin Expressways, Miami International Airport, and Downtown Miami. The B-1 zoning allows for flexibility, and the property benefits from ample on-site parking and strong tenant demand. Lease terms are gross, with rent bumps projected at 3% - 5%. Seller financing is available at 60% LTV for two years at 7% interest only. This stabilized, value-add investment is well-positioned for future appreciation in a growing market. The property's strong cash flow, combined with the potential for rent increases and future value appreciation, makes it an attractive investment for both owner-users and investors. The building's excellent visibility along South Dixie Highway provides prominent signage opportunities. The property's well-maintained condition and ease of management further enhance its appeal.
Value Estimations
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $7,190,000
Market price range: $1.56M - $10.3M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $8,950,000 Current use
- MEDICAL BUILDING
- $11,040,000 Change: +23% Conversion: Easy
- WAREHOUSE, STORAGE
- $7,475,000 Change: -16% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Palmetto Bay
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.3382
- Latitude
- 25.633
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
