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Oak Park Professional Center 8925 SW 148th St

22,983 SF 82% Leased Office Building Palmetto Bay, FL 33176 £4,440,404 (£193/SF) 9.27% Net Initial Yield

Investment Highlights

  • Strategic Location That Ensures Easy Access To Major Thoroughfares
  • Ideally Suited For Small Businesses
  • Completed 50-Year Recertification
  • Ample On-Site Parking
  • Strong Tenant Demand

Executive Summary

Marcus & Millichap is pleased to present for sale Oak Park Professional Center, an attractive Class B office building expertly designed to meet the needs of professionals. Located on the east side of South Dixie Highway, just north of SW 148th Street, this property features approximately 22,884 square feet of executive office space. The center includes a mix of primarily private offices under 1,000 square feet and several suites over 1,000 square feet, offering a unique opportunity for both professional owner-users and investors.
This office asset offers excellent visibility and easy access. The property is conveniently close to Coral Gables, Palmetto Expressway (SR 826), Dolphin Expressway (SR 836), Miami International Airport (MIA), and Downtown Miami. This central location ensures that businesses can enjoy seamless connectivity to key areas, making it a prime address for professional firms.
Completed 50-Year Recertification
The building’s location along South Dixie Highway ensures high visibility, which is crucial for businesses looking to enhance their presence. Prominent signage opportunities allow companies to effectively brand their office space, increasing recognition and attracting clients. Inside, Oak Park Professional Center offers a versatile layout with a mix of private offices and open floor plans. This flexibility caters to a range of business needs, from individual professional practices to collaborative workspaces, and allows for easy reconfiguration to suit specific requirements. Most office suites are under 1,000 square feet, making them ideal for small businesses. Whether you are an engineer, designer, insurance agent, accountant, architect, lawyer, or medical professional, Oak Park Professional Center provides an optimal environment for growth. Ample on-site parking is a significant advantage, ensuring that both employees and clients have convenient and secure parking options. This feature enhances the overall convenience and attractiveness of the property.
For investors, Oak Park Professional Center represents a sound investment opportunity. The property’s location, condition, and versatility make it an attractive option for tenants, ensuring a steady demand for office space. The building’s ease of management and maintenance further enhance its appeal as an investment asset. The location, convenience, and overall condition of the property typically attract a long list of tenants looking to occupy space in Oak Park Professional Center. This high demand ensures a consistent rental income, making it a reliable investment. The property’s well-maintained condition and ease of management reduce the overhead costs associated with property ownership. Investors can enjoy a hassle-free experience while benefiting from a stable and lucrative asset.
This office building is positioned well for potential appreciation in value. As Miami continues to grow and develop, properties in prime locations like this are likely to see significant increases in value over time.
Pro Forma NOI: $526,034

Property Facts

Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Office/Residential
Building Size
22,983 SF
Building Class
B
Year Built
1973
Price
£4,440,404
Price Per SF
£193
Net Initial Yield
9.27%
NOI
£411,625
Percent Leased
82%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
11,491 SF
Building FAR
0.57
Lot Size
0.92 AC
Zoning
BU-1A, County - Property Type - Office-Building Size - 22,983 SF Year Built - 1973 The building’s location along South Dixie Highway.
Parking
75 Spaces (3 Spaces per 1,000 SF Leased)

Amenities

  • 24 Hour Access
  • Bus Route
  • Property Manager on Site
  • Signage
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 2nd Fl-Ste 216
  • 1,650 SF
  • Office
  • Full Build-Out
  • Now

- Space can be divided into Executive Suite Style - Rate incudes utilities, building services and property expenses - Maintenance person onsite' -Private offices - Kitchen and conference room - Waiting area - offices with many windows

  • 2nd Fl-Ste 218
  • 2,510 SF
  • Office
  • Partial Build-Out
  • Now

- Space can be divided into Executive Suite Style - Kitchen - Conference Room - Reception area - Offices with windows

Space Size Space Use Condition Available
2nd Fl-Ste 216 1,650 SF Office Full Build-Out Now
2nd Fl-Ste 218 2,510 SF Office Partial Build-Out Now

2nd Fl-Ste 216

Size
1,650 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Fl-Ste 218

Size
2,510 SF
Space Use
Office
Condition
Partial Build-Out
Available
Now

2nd Fl-Ste 216

Size 1,650 SF
Space Use Office
Condition Full Build-Out
Available Now

- Space can be divided into Executive Suite Style - Rate incudes utilities, building services and property expenses - Maintenance person onsite' -Private offices - Kitchen and conference room - Waiting area - offices with many windows

2nd Fl-Ste 218

Size 2,510 SF
Space Use Office
Condition Partial Build-Out
Available Now

- Space can be divided into Executive Suite Style - Kitchen - Conference Room - Reception area - Offices with windows

Walk Score ®
Very Walkable (79)
Bike Score ®
Very Bikeable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
33-5021-032-0010
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£3,743,255
  • Listing ID: 32171345

  • Date on Market: 18/06/2024

  • Last Updated:

  • Address: 8925 SW 148th St, Palmetto Bay, FL 33176

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