South Miami Medical Office Condo for Sale Adjacent to South Miami Hospital (Baptist Health)

6141 Sunset Dr., Suite 401, South Miami, FL 33143

List Price: $2,500,000

5,780 SF (including common area) 100% Leased to Baptist Health

Medical Group Built in 2006 Adjacent to South Miami Hospital

For more information, please contact:

5 Year Lease w/ 5-Yr Option Gross Rents Year 1: $ 216,000

Plus 3.5% annual increases 2018 Taxes = $ 28,403 2018 CAM = $ 43,797 NOI Year 1: $ 143,800 5 Year Cap Rate: 6.31% 7.86% assuming 5-Yr option is exercised

Chris Crystal, Broker

Miami Real Estate Co. 305-773-8118 cell

Chris@RealEstateMiami.com

Our Tenant:

Baptist Health Medical Group Physicians, LLC is part of Baptist Health South Florida, the

largest healthcare organization in the region, with 10 hospitals (Baptist Hospital, Baptist

Children’s Hospital, Bethesda Hospital East, Bethesda Hospital West, Doctors Hospital,

Fishermen’s Community Hospital, Homestead Hospital, Mariners Hospital, South Miami

Hospital and West Kendall Baptist Hospital), more than 40 physician practices, 50

outpatient and urgent care facilities, Baptist Health Quality Network and internationally

renowned centers of excellence spanning across Monroe, Miami-Dade, Broward and

Palm Beach counties.

Baptist Health is a not-for-profit organization supported by philanthropy and committed

to our faith-based charitable mission of medical excellence and has more than 19,500

employees and more than 3,000 affiliated physicians. It has been recognized by Fortune

as one of the 100 Best Companies to Work For in America and by Ethisphere as one of

the World’s Most Ethical Companies.

Baptist Health South Florida is the most awarded healthcare system in South Florida by

U.S. News & World Report with 22 high-performing awards in 14 types of care. Baptist

Hospital continues to be the highest-ranked hospital in Miami-Dade County.

“Being recognized year after year for our performance is a testament to the dedication

of our entire organization to providing excellent service and compassionate care to our

patients and their families,” said Brian E. Keeley, president and chief executive officer of

Baptist Health. “We set the bar very high for ourselves and take great pride in our

teamwork and focus on high quality in everything we do.”

This facility is home to the offices of Baptist Health Medical Group Obstetrics &

Gynecology, whose physicians have been occupying this space since the building opened

in 2006.

Suit

e 4

01

Ye

ar 1

Ye

ar 2

Ye

ar 3

Ye

ar 4

Ye

ar 5

Ye

ar 6

Ye

ar 7

Ye

ar 8

Ye

ar 9

Ye

ar 1

0

Mo

nth

lyA

nn

ual

ly*

Gro

ss$

18

,00

0.0

0$

21

6,0

00

.00

$2

23

,56

0.0

0$

23

1,3

84

.60

$2

39

,48

3.0

6$

24

7,8

64

.97

$2

56

,54

0.2

4$

26

5,5

19

.15

$2

74

,81

2.3

2$

28

4,4

30

.75

$2

94

,38

5.8

3

Ass

oc

$4

3,7

96

.97

$4

3,7

96

.97

$4

3,7

96

.97

$4

3,7

96

.97

$4

3,7

96

.97

$4

3,7

96

.97

$4

3,7

96

.97

$4

3,7

96

.97

$4

3,7

96

.97

$4

3,7

96

.97

RE

Taxe

s$

28

,40

3.1

3$

29

,25

5.2

2$

30

,13

2.8

8$

31

,03

6.8

7$

31

,96

7.9

7$

32

,92

7.0

1$

33

,91

4.8

2$

34

,93

2.2

7$

35

,98

0.2

4$

37

,05

9.6

4

Net

$1

43

,79

9.9

0$

15

0,5

07

.81

$1

57

,45

4.7

5$

16

4,6

49

.22

$1

72

,10

0.0

2$

17

9,8

16

.26

$1

87

,80

7.3

6$

19

6,0

83

.08

$2

04

,65

3.5

5$

21

3,5

29

.22

Leas

e in

cep

tio

n:

Oct

ob

er

1, 2

01

8

5 Y

ear

Init

ial T

erm

+ 5

Ye

ar O

pti

on

(* R

en

t in

op

tio

n y

ear

s to

be

"at

fai

r m

arke

t va

lue

." W

e a

ssu

me

3.5

% in

cre

ase

s co

nti

nu

e)

3.5

% A

nn

ual

Incr

eas

es…

Fig

ure

s a

bo

ve a

lso

co

nta

in 3

% in

crea

ses

in R

E Ta

xes

An

nu

al R

etu

rns,

bas

ed

on

list

pri

ce

Ye

ar 1

Ye

ar 2

Ye

ar 3

Ye

ar 4

Ye

ar 5

Ye

ar 6

Ye

ar 7

Ye

ar 8

Ye

ar 9

Ye

ar 1

0

$2

,50

0,0

00

5.7

5%

6.0

2%

6.3

0%

6.5

9%

6.8

8%

7.1

9%

7.5

1%

7.8

4%

8.1

9%

8.5

4%

5 Y

ear

Ave

rag

e:6

.31

%1

0 Y

ear

Ave

rag

e:7

.86

%

6141 Sunset Drive Condominium Association

Recent/Comparable Sales

Past Sales SF Sale Date Sale Price SP $/SFHadassah Medical Offices. LLC multiple 14,932.85 June 2015 $6,900,000 $462.076141 Real Estate Partners 403 3,256.60 June 2018 $1,670,000 $512.80DRK Properties (Krieger) 402 1,829.50 June 2019 $962,500 $526.10

Subject List PriceFKS Buildling Partners 401 4,855.54 $2,500,000 $514.88

* SF per Tax Rolls

6141 Sunset Drive Condominium Association All Suites - All owners

Square CAOwner Name Suite # Feet Percentage 16.37%

South Miami Associates 101 7,508.30 18.6698% 1,229.11 Innovative Cancer Institute 102 3,959.52 9.8455% 648.17

- Hadassah Medical Offices. LLC 301 2,747.45 6.8317% 449.76 Hadassah Medical Offices. LLC 302 3,756.87 9.3416% 615.00 Hadassah Medical Offices. LLC 303 1,615.72 4.0176% 264.49 Hadassah Medical Offices. LLC 304 1,922.90 4.7814% 314.78

FKS Buildling Partners 401 4,855.54 12.0735% 794.85 DRK Properties 402 1,829.50 4.5491% 299.49 6141 Real Estate Partners 403 3,256.60 8.0977% 533.11

Miami Medical Property 501 3,874.05 9.6330% 634.18 Hadassah Medical Offices. LLC 502 1,884.68 4.6864% 308.52 Hadassah Medical Offices. LLC 503 3,005.23 7.4727% 491.96

40,216.36 100.0000% 6,583.42 16.37%

South Miami Medical Office Condo

Suite 401 - Interior Details

6 Doctor's offices

10 Exam Rooms

20 seat reception area

6-person reception/admin area

5+2 person nurses station

6-person admin/business office

Lab

Kitchen/Lounge

4 bathrooms

4 storage closets

170 parking for entire building + Valet Parking

Top quality; light & bright; high end space… built in 2006.

Additional Photos:

Additional Photos:

Location:

6141 Sunset Drive, Suite 401

South Miami, FL 33143

mailto:Chris@RealEstateMiami.com