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paul silverstein

RE/MAX

7220 Red Road

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  • MIAMI RealTimeMLS

  • MarketStatus = OnMarket MarketStatus (value) = 0 ExpirationDate = HoursToExpiry =

    9095 Southwest 87th Avenue, Miami, FL, USA, 33176

    • Posted: 5/26/2018 3:04:35 PM
    • -

    Neighborhood: baptist hospital medical district

    $11,900,000 USD

    The Florida Commercial Team and RE/MAX Advance Realty are proud to present this rare urban infill commercial office project located only one block from Baptist hospital and the Baptist Hospital Medical Complex. The Property is comprised of Five (5) multi-tenant, single story office buildings with 43,736 square feet, situated on 2.92 acres of land. The property is currently zoned RU-5A for Professional and Medical Office use. The Property has an historical rental occupancy rate of more than 95%. Rates are below market for medical office tenants, offering a new operator the opportunity to increase rents and improve cash flow. The Property may be considered as a redevelopment site. The current zoning (RU-5A) permits an increase in the square footage (per Zonar Report). This is an ideal value add opportunity. The excellent location of the Property benefits from its proximity to the Baptist Hospital Medical Complex, Dadeland Mall, the highest gross sales shopping mall in Florida, and the Downtown Dadeland Development District, with over 5,000 new apartment units built or under construction. It has easy access to SR826 (Palmetto Expressway), the Florida Turnpike and South Dixie Highway. Whether for experienced operators who wish to capitalize on the below market lease rates, or developers seeking to increase density, this property offers multiple avenues to create a significant return on invested capital in one of the best located properties in Miami-Dade County.