8353 124Th StMiami, FL 33156

Property Details for 8353 124Th St

Year built

1971

Construction

CONCRETE

Lot size

1.20 AC

Property size (Sq ft)

29,438 SF

Zone code

6900:SEMI PROFESS OFFICE

Property type

Office properties

Property subtype

Office buildings

APN

30-5015-036-0010

APU

3050150360010

Description

This exceptional Miami medical office building, located at 8353 SW 124th St, offers a compelling investment opportunity. The 20,278 square foot, two-story building boasts 23 tenants in a 100% occupied, stabilized environment. Built in 1971 and extensively renovated in 2022, the property features hurricane impact windows, a resealed roof, and ample parking (73 spaces) on a 0.61-acre lot. The property benefits from a prime location in Miami-Dade County, near US1 and the Pinecrest area, ensuring high visibility and accessibility. The current zoning (RU-5A, SEMI-PROFESSIONAL OFFICE DISTRICT) allows for a variety of uses. With a gross lease structure and 4% annual rent bumps, this fee-simple ownership presents a consistent income stream. The building's strong tenant base, predominantly medical professionals, provides long-term stability and high occupancy rates. This turnkey investment offers significant appreciation potential in a thriving Miami market. The asking price is $6,700,000.

• CAP approach

  CAP return

  Valuation

  6%

  $20,759,204

  6.5%

  $19,162,342

  7%

  $17,793,602

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,415,629

  Geo Method

  $9,415,629

• Alternative Use

  Use

  Valuation

  Residential

  $23,761,304

  Hospitality

  $21,765,226

  Educational

  $18,108,412

  Medical

  $18,731,188

  Retail

  $28,168,642

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.6556

Longitude

-80.3296

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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