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56 Parkwood 10250 SW 56th St 28,581 SF 94% Leased Office Building Miami, FL 33165 $7,100,000 ($248.42/SF) 6.34% Cap Rate
Investment Highlights
- Building mostly occupied with medical tenants with a long history of tenancy.
- The property offers 21 suites with varying sizes, catering to both small businesses and larger corporate tenants.
- Built in 1990 and consistently well-maintained, Parkwood Office Plaza is in strong condition, minimizing immediate capital expenditure.
- With an occupancy rate of 94.32%, the property benefits from a diverse tenant mix, ensuring stable cash flow.
- The property provides a current Cap Rate of 6.34% offering solid returns for investors.
- The property is located near prominent business centers, enhancing its appeal and long-term value.
Executive Summary
Plaza, a premier office building located at 10250 Southwest 56th Street, Miami, FL.
This property offers 28,581 SF of office space, with 21 suites available for lease,
catering to a range of tenants. The building is well-suited for small businesses or large
corporate tenants, with flexible spaces designed for a modern working environment.
Strategically located in a desirable area of Miami, the property benefits from excellent
accessibility and visibility. It is situated near key amenities such as Broward Mall and
Westside Regional Medical Center, making it an attractive location for businesses. The
building is also conveniently located with access to major transportation routes,
enhancing its appeal to tenants and ensuring easy connectivity to the greater Miami
area.
With an occupancy rate of 94.32% and a stable income stream, Parkwood Office Plaza
is a solid investment opportunity. The property’s projected Cap Rate of 6.34%, with
potential increases, ensures a strong return on investment. Its current and pro forma
financials indicate steady cash flow and long-term profitability, making it a prime asset
for investors seeking consistent income and growth in a growing market.
Property Facts
Amenities
- 24 Hour Access
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
***FIRST MONTH FREE ***
| Space | Size | Space Use | Build-Out | Available |
| 2nd Fl-Ste B201 | 1,622 SF | Office | Full Build-Out | Now |
2nd Fl-Ste B201
| Size |
| 1,622 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste B201
| Size | 1,622 SF |
| Space Use | Office |
| Build-Out | Full Build-Out |
| Available | Now |
***FIRST MONTH FREE ***
About Kendall
Kendall is the second-largest office cluster in the Miami metropolitan area and spans several neighborhoods, including Pinecrest to the east, The Hammocks to the west, and a portion of South Miami on its northern edge. Major transportation routes, like U.S. 1, State Road 874, and Metrorail stations in Dadeland allow employers to access a skilled labor force within the area as well as from the 2.6 million residents of greater Miami-Dade County.
Health systems like Baptist Health Hospital and regional malls like the Dadeland Mall anchor the local economy, while notable corporate employers like Beckman Coulter, Interval International, and Equitable Advisors bolster the local office market. The area’s proximity to nearby suburbs, downtown Miami, and Miami International Airport provides an attractive location for employers, while limited office construction has kept office fundamentals relatively healthy.
Kendall has historically posted lower vacancies than the region, with the majority of recent construction concentrated in medical office buildings. The inflow of companies, specifically in the healthcare and social assistance industries, has compressed vacancies below the Miami region's average over the past few years. Rents have also grown consistently over the past decade but remain relatively affordable, well below Brickell and downtown Miami rents, presenting opportunities for potential buyers looking to diversify their portfolio.
Demographics
Demographics
Property Taxes
| Parcel Number | 30-4029-002-0080 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $4,169,000 |
Property Taxes
Sale Advisor
Sale Advisor
Alex Zylberglait, Executive Managing Director Investments CCIM
Nearly 15 years of brokering deals in South Florida gives Alex in-depth knowledge of the Miami market and the ability to deliver first-hand intelligence on properties and market conditions to optimize execution. Alex and his Marcus & Millichap team of commercial real estate specialists provide detailed market analysis, underwriting, and investment services for an array of domestic and international clients. Raised in South America, Alex interacts fluidly with domestic and Latin American investors.
Prior to joining Marcus and Millichap, he held the position of Director of Acquisitions for a large operator in the Southeast U.S., where he raised an equity fund of approximately $100 million. Previous to this position he held the position of advisor at Ernst and Young, specializing in the disposition and evaluation of performing and underperforming assets as well as REOs.
Alex has earned the designations of Certified Commercial Investment Member (CCIM) and Society of Industrial and Office Realtor (SIOR.) He received his B.A. from the University of California and his MBA with a concentration in finance and real estate from the University of Illinois.
License: FL: BK3015211
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56 Parkwood | 10250 SW 56th St
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