This fully operational medical office building, located at 17395 N Bay Rd in Sunny Isles Beach, Florida, presents a unique investment opportunity. Built in 1974, this 1600 square foot property is currently generating a monthly rental income of $7,000, translating to $52 per square foot. The building boasts five exam rooms, multiple entrances, and comes fully furnished with all necessary equipment. A significant advantage is the inclusion of a full, free parking lot, a highly desirable feature in this prime Sunny Isles Beach location. The current tenant base consists of approximately 500 clients drawn from the nearby Winston Towers and the surrounding community. Daily operations are managed by a full-time nurse, ensuring smooth functionality. A 3-year lease is in place, with an option to extend to 5 years. All necessary occupational licenses are current and in good standing. The asking price for this turnkey medical practice is $249,900, offering a compelling return on investment for a discerning buyer. This property is ready for immediate use and presents a seamless transition for a new owner. The property is situated in Miami-Dade County, Florida, zip code 33160.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$14,274,752
6.5%
$13,176,694
7%
$12,235,502
Comparable approach
Method
Valuation
Relative Method
$10,278,642
Geo Method
$10,278,642
Alternative Use
Use
Valuation
Residential
$16,339,101
Hospitality
$14,966,528
Educational
$12,451,976
Medical
$12,880,218
Retail
$19,369,740
Location Insight
City
Sunny Isles Beach
County
Miami-dade
State
Florida
Latitude
25.9366
Longitude
-80.1262
CBSA code
33100
CBSA name
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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