Office

11740 SW 80th Street

11740 SW 80th St, Miami, FL 33183

Listing Price: $5,000,000

Cap Rate
5.21%
Gross SF
19,852
Rentable SF
19,852
Price/Gross SF
$251.86
Lot Size
1.00 acres
Year Built
2008

Investment Overview

Marcus & Millichap is proud to present 11740 SW 80th Street, a three-story office building located in Miami, Florida. This building consists of 19,852 rentable square feet of office space. The property is located just off the Florida Turnpike, which has high traffic counts of over 135,000 vehicles per day (VPD). The building is right next to The Palms at Town & Country and Kendall Village Center, which offer many amenities such as a movie theater, gym, bars & restaurants and over 60 retail stores. This location provides easy access to SW 88th Street (North Kendall Drive) and the Florida Turnpike.

11740 SW 80th Street was built in 2008 and has been exceptionally maintained. It provides professional curb appeal, ample parking and high visibility signage opportunities. The building is currently 73% occupied by a mix of professional tenants. 67% is occupied by Lemartec, a full service EPC & design-build firm The interior of the building has a combination of private offices and open floor space allowing for a range of uses and easy reconfiguration. This asset is extremely easy to manage and typically has a long list of tenants looking to occupy the building given the location, convenience and overall condition of the property.

With an inventory of 12.1 million SF, Kendall is one of Miami's largest office submarkets, in terms of both inventory and area. The submarket is located on the south side of Miami-Dade County and houses many employers in the healthcare, business services, and retail trade sectors. Kendall is served by two Miami Metro rail stations: Dadeland North and Dadeland South. The Dadeland South station is a major transit depot in the area, connecting to the southernmost suburbs of Homestead and Florida City.

The Kendall vacancy rate has been on the decline over the past decade, and at 5.8%, it remains well below the metro average. The submarket saw some deliveries of smaller buildings over the past decade, but an almost equal amount of space was demolished, keeping supply relatively stable. Demand has remained robust throughout the cycle, as the submarket is very popular with medical tenants.

Investment Highlights

  • Modern Office Building with Upside in Occupancy
  • Located Off the Florida Turnpike with a High Traffic Count of Over 135,000 VPD
  • Walking Distance to The Palms at Town & Country
  • Great Exposure With Excellent Visibility

Exclusively Listed By

Listing Price: $5,000,000

Cap Rate
5.21%
Gross SF
19,852
Rentable SF
19,852
Price/Gross SF
$251.86
Lot Size
1.00 acres
Year Built
2008

Investment Highlights

  • Modern Office Building with Upside in Occupancy
  • Located Off the Florida Turnpike with a High Traffic Count of Over 135,000 VPD
  • Walking Distance to The Palms at Town & Country
  • Great Exposure With Excellent Visibility

Investment Overview

Marcus & Millichap is proud to present 11740 SW 80th Street, a three-story office building located in Miami, Florida. This building consists of 19,852 rentable square feet of office space. The property is located just off the Florida Turnpike, which has high traffic counts of over 135,000 vehicles per day (VPD). The building is right next to The Palms at Town & Country and Kendall Village Center, which offer many amenities such as a movie theater, gym, bars & restaurants and over 60 retail stores. This location provides easy access to SW 88th Street (North Kendall Drive) and the Florida Turnpike.

11740 SW 80th Street was built in 2008 and has been exceptionally maintained. It provides professional curb appeal, ample parking and high visibility signage opportunities. The building is currently 73% occupied by a mix of professional tenants. 67% is occupied by Lemartec, a full service EPC & design-build firm The interior of the building has a combination of private offices and open floor space allowing for a range of uses and easy reconfiguration. This asset is extremely easy to manage and typically has a long list of tenants looking to occupy the building given the location, convenience and overall condition of the property.

With an inventory of 12.1 million SF, Kendall is one of Miami's largest office submarkets, in terms of both inventory and area. The submarket is located on the south side of Miami-Dade County and houses many employers in the healthcare, business services, and retail trade sectors. Kendall is served by two Miami Metro rail stations: Dadeland North and Dadeland South. The Dadeland South station is a major transit depot in the area, connecting to the southernmost suburbs of Homestead and Florida City.

The Kendall vacancy rate has been on the decline over the past decade, and at 5.8%, it remains well below the metro average. The submarket saw some deliveries of smaller buildings over the past decade, but an almost equal amount of space was demolished, keeping supply relatively stable. Demand has remained robust throughout the cycle, as the submarket is very popular with medical tenants.

Exclusively Listed By

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