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8900 SW 117th Ave - Park Plaza
4,070 SF Medical Condo Unit Offered at $1,800,000 in Miami, FL 33186
Investment Highlights
- Parking garage behind the building and adundant street parking
- Conveniently located near the Turnpike, one block north of Kendall Drive
- Credit Tenant
Executive Summary
Building is conveniently located near the Turnpike, one block north of Kendall Drive. Minutes from Baptist Main, Baptist West Kendall, HCA Florida Kendall Hospital and Jackson South.
Property Facts
| Price | $1,800,000 | Building Class | C |
| Unit Size | 4,070 SF | Floors | 2 |
| No. Units | 1 | Typical Floor Size | 32,000 SF |
| Total Building Size | 64,111 SF | Year Built | 1984 |
| Property Type | Office (Condo) | Lot Size | 1.70 AC |
| Property Subtype | Medical | Parking Ratio | 4/1,000 SF |
| Sale Type | Investment |
| Price | $1,800,000 |
| Unit Size | 4,070 SF |
| No. Units | 1 |
| Total Building Size | 64,111 SF |
| Property Type | Office (Condo) |
| Property Subtype | Medical |
| Sale Type | Investment |
| Building Class | C |
| Floors | 2 |
| Typical Floor Size | 32,000 SF |
| Year Built | 1984 |
| Lot Size | 1.70 AC |
| Parking Ratio | 4/1,000 SF |
1 Unit Available
Unit 100
| Unit Size | 4,070 SF | Sale Type | Investment |
| Price | $1,800,000 | Cap Rate | 6.58% |
| Price Per SF | $442.26 | NOI | $118,402 |
| Condo Use | Medical |
| Unit Size | 4,070 SF |
| Price | $1,800,000 |
| Price Per SF | $442.26 |
| Condo Use | Medical |
| Sale Type | Investment |
| Cap Rate | 6.58% |
| NOI | $118,402 |
Description
The condo well-suited for its purpose as a medical facility, featuring a comprehensive layout tailored to healthcare needs. With 9 exam rooms equipped with sinks, 3 doctor's offices, a lead-lined X-ray room, a spacious lab, and a large breakroom, the facility is fully equipped to support medical professionals in delivering quality care to patients.
Additionally, the property includes essential amenities such as a large staff work area, multiple restrooms for convenience, a reception area to welcome patients, and two waiting rooms to accommodate patient flow efficiently. The presence of abundant parking options, including a parking garage behind the building and ample street parking, enhances accessibility for both staff and visitors, further bolstering the property's appeal.
Sale Notes
This property boasts the presence of a long-term credit tenant, anchoring its stability and investment potential. The tenant has occupied the premises since 2016 and has committed to three more years on the current lease, with the added benefit of two consecutive 3-year renewal options. This ensures a reliable income stream for the foreseeable future.
The lease agreement features an attractive annual rent escalation rate of 4%, providing built-in protection against inflation and ensuring consistent growth in rental income over time. This favorable term structure offers investors peace of mind and the potential for increased returns as the lease progresses.
Amenities
- Bus Line
- Signage
zoning
| Zoning Code | 6900 (Transect zone) |
| 6900 (Transect zone) |
-
Angelique Salas -
AMS Healthcare Real Estate
Presented by
8900 SW 117th Ave - Park Plaza
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