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$ 8,000,000
Est. payment | /mo
23,231 SqFt
$ 8,000,000
Est. payment | /mo
23,231 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 23,231 sqft
Price per Sqft $344
MLS Listing ID A12034396
Style Detached
HOA Y/N No
Year Built 2019
Lot Size 9,687 Sqft
Property Sub-Type Mixed Use
Property Description
Free-standing Class A Brickell medical office building. Built in 2019, CBS construction, 23,231 SF, underground parking, floor-to-ceiling glass, rooftop area. T6-8O under Miami 21, highest-intensity urban core transect — medical offices, surgical suites, outpatient procedure centers, dental/oral surgery operations by right; vacancy sits at a historic low of 6.1%-new construction supply is virtually nonexistent.
Over $4M in tenant improvements and medical buildout, Current Miami Class A medical rates of $110–$130/SF NNN — pro forma NOI of over $600,000 and a stabilized value well in excess of the asking price.
At $10,000,000 — representing $865/SF on net rentable area — this offering is priced significantly below the qualified closed-comp average of $851–$994/SF for far inferior, older product on the same corridor. Replacement cost alone for new surgical-grade medical construction exceeds $450–$1,020/SF, making this a rare opportunity to acquire an irreplaceable asset below replacement cost.
The seller is motivated and open to offers. A fast closing is preferred. This is an exceptional opportunity for an owner-user, medical operator, or healthcare investor seeking a trophy medical asset in one of the strongest medical office markets in the United States.
Over $4M in tenant improvements and medical buildout, Current Miami Class A medical rates of $110–$130/SF NNN — pro forma NOI of over $600,000 and a stabilized value well in excess of the asking price.
At $10,000,000 — representing $865/SF on net rentable area — this offering is priced significantly below the qualified closed-comp average of $851–$994/SF for far inferior, older product on the same corridor. Replacement cost alone for new surgical-grade medical construction exceeds $450–$1,020/SF, making this a rare opportunity to acquire an irreplaceable asset below replacement cost.
The seller is motivated and open to offers. A fast closing is preferred. This is an exceptional opportunity for an owner-user, medical operator, or healthcare investor seeking a trophy medical asset in one of the strongest medical office markets in the United States.
Location
State FL
County Miami-dade
Area 3490
Zoning 6100
Exterior
Private Pool Yes
Building
Architectural Style Detached
Others
Tax ID 01-41-38-009-1180
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12034396
Listed by Premier Properties
NEARBY SCHOOL & BUSINESS
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