38-39 54 41 BRICKELL ESTATES PB 17-50 LOTS 9 TO 11 INC BLK 22 LOT SIZE 77.500 X 125 OR 20557-2794/25432-4692 0402 4 COC 26478-1774 05 2008 6 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.