4308 Alton Rd - Medical FOR SALE


Miami Beach, FL 33140- Nautilus
$33,600,000 USD
561-406-0113
4308 Alton Rd, Miami Beach, FL for Sale
$33,600,000 USD
Medical - FOR SALE
1/8
null | 6.73% Cap Rate

4308 Alton Rd
Miami Beach, FL 33140
Nautilus


HIGHLIGHTS

  • Class A MOB physically connected via pedestrian bridge to Mt. Sinai Medical Center, Miami Beach's sole full-service acute care hospital.
  • 100% medical tenancy with 93%+ Mt. Sinai-affiliated physicians; hospital admitting privileges drive industry-leading lease renewal rates.
  • Bayfront site on the Mt. Sinai medical campus with Biscayne Bay frontage, minutes from Miami Beach's affluent Mid-Beach and Nautilus areas.
  • Located on Miami Beach's supply-constrained barrier island, where geography permanently prevents competing medical office development.
  • 2026 forward NOI of $2.26M reflects a 25.6% YoY increase, driven by five newly executed leases including a 10-year commitment.
  • Integrated 500-stall parking structure generates approximately $608,000 annually, providing a stable, tenant-independent income stream.

OVERVIEW

RARE CRE is pleased to exclusively represent the opportunity to acquire the Donald L. Golden Medical Office Building - an 85,162 RSF Class A medical office building physically connected via pedestrian bridge to Mount Sinai Medical Center in Miami Beach, FL. The property is offered at $33,600,000 (±$395/RSF), based on a contractual 2026 NOI of ±$2.26M (±6.73% cap rate), supported by ±94.5% current occupancy, and a parking component generating ±$608K annually (2026 budget). The building's on-campus designation creates exceptional tenant retention. Physicians maintain hospital admitting privileges and referral relationships that make relocation prohibitively disruptive. While Miami Beach's barrier island geography prevents competing supply adjacent to the campus. The Property is offered as a leasehold interest with approximately 32 years of remaining term, presenting investors with the opportunity to acquire a defined income stream from a Class A, on-campus medical asset located in one of South Florida's most supply-constrained healthcare submarkets.

FOR SALE DETAILS

PRICE

$33,600,000 USD

PRICE/SF

$395 USD /SF

CAP RATE

6.73%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Donald L. Golden Medical Office Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

9

BUILDING CLASS

A

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

500

LAND DETAILS

LAND ACRES

1.86 AC

LAND SF

81,022 SF

ZONING

HD-HOSPITAL DISTRICT

APN/PARCEL ID

02-3222-011-0370

ASK ABOUT THIS PROPERTY

Christopher GreenRARE CREMore Info
561-406-0113

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Christopher GreenRARE CREMore Info
561-406-0113

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.