Overview
Transwestern’s Southeast Investment Sales Team is exclusively retained to arrange the sale of the trophy medical office building 6262 Sunset Drive, including a parking garage with an abundance of not owned but open to public additional parking options. The Property is at the gateway of, and adjacent to, the Baptist Health South Miami Hospital campus, allowing physicians direct access to the hospital.
The investment offers immediate proximity to the Metrorail station, making it a coveted transit-oriented medical office. Access to amenities is exceptional, within walking distance to the South Miami entertainment / restaurant / retail district.
Investment Highlights
TROPHY MEDICAL OFFICE – CREDIT TENANCY
Secure medical tenant cash flow, with credit tenant Interval International backed by Marriott Vacations Worldwide credit for nearly 54% of the NRA.
- Interval International rent is $8.79/SF below the $46/SF NNN asking rent.
GATEWAY TO BAPTIST SOUTH MIAMI HOSPITAL
NO GROUND LEASE OWNERSHIP STRUCTURE
Adjacent to the South Miami Hospital Baptist Health System campus.
GARAGE PARKING - ABUNDANT PARKING OPTIONS
DIRECT ENTRY TO FLOORS 1 -6: MOB TENANTS COVET
Best parking scenario in the market with competitive advantage of a 3.64/1,000 parking garage, plentiful on-street parking, and two “open to public” adjacent Baptist Health parking garages. Direct entry from garage to floors 1 through 6 – medical tenants highly value this access and convenience.
BEST SIGNAGE OPPORTUNITY IN MARKET
Available building signage along the heavily traveled Sunset Drive is a competitive advantage to attract high-quality medical tenants.
EFFICIENT – SEPARATE ELECTRIC METERS
Electric separately metered, allowing tenants to control their power usage cost and pay directly to the utility provider.
GENERATORS & ON HOSPITAL POWER GRID
Ensures secure power and business continuity. Competitive leasing advantage – provides tenants’ peace of mind during storm-related outages. First to regain power.
FULLY RENOVATED BUILDING
Lobby, tenant spaces, and roof with warranty through 1/27/2042.
MEDICAL TENANCY CONVERSION
Gateway location adjacent to the Baptist South Miami Hospital campus and at the core of the established South Miami Medical Market.
- Floors 1-5: Successfully converted and leased to medical tenants.
- Floors 7 & 8: Convert Interval International space to Medical - Top floor ideal for surgical center with high ceilings.
HEALTHY & ROBUST MEDICAL OFFICE MARKET
The South Miami medical office market vacancy rate is only 4.1%, with intense medical tenant demand and significantly rising rents.
CORRIDOR OF WEALTH – KEY LOCATION
The Property is located at the core of the confluence of Coral Gables, South Miami and Pinecrest communities. A long-term affluent patient demand base.
AFFLUENT DEMOGRAPHICS OF CHOICE
3 Mile Average Household Income: $203,002
3 Mile Population: 111,544 residents
METRORAIL: TRANSIT ORIENTED PROPERTY
Metrorail in walking distance appeals to increasingly car-averse employees.
South Miami Demographics
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Southeast Investment Sales Team
