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Donald L. Golden Medical Office Building 4308 Alton Rd 85,162 SF 97% Leased 4-Star Office Building Miami Beach, FL 33140 $47,508,719 CAD ($557.86 CAD/SF) 6.73% Cap Rate
Investment Highlights
- Class A MOB physically connected via pedestrian bridge to Mt. Sinai Medical Center, Miami Beach's sole full-service acute care hospital.
- Bayfront site on the Mt. Sinai medical campus with Biscayne Bay frontage, minutes from Miami Beach's affluent Mid-Beach and Nautilus areas.
- 2026 forward NOI of $2.26M reflects a 25.6% YoY increase, driven by five newly executed leases including a 10-year commitment.
- 100% medical tenancy with 93%+ Mt. Sinai-affiliated physicians; hospital admitting privileges drive industry-leading lease renewal rates.
- Located on Miami Beach's supply-constrained barrier island, where geography permanently prevents competing medical office development.
- Integrated 500-stall parking structure generates approximately $608,000 annually, providing a stable, tenant-independent income stream.
Executive Summary
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.
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.
Data Room Click Here to Access
- Offering Memorandum
- Market Information
- Operating and Financials
- Third Party Reports
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
Ground Lease (Leasehold)
Property Type
Office
Property Subtype
Medical
Building Size
85,162 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2008
Price
$47,508,719 CAD
Price Per SF
$557.86 CAD
Cap Rate
6.73%
NOI
$3,195,507 CAD
Percent Leased
97%
Tenancy
Multiple
Building Height
9 Stories
Typical Floor Size
9,462 SF
Building FAR
1.05
Lot Size
1.86 AC
Zoning
HD-HOSPITAL DISTRICT - Existing Land Use: 430 - Hospitals, clinics, medical offices, and/or dental facilities
Parking
500 Spaces (5.87 Spaces per 1,000 SF Leased)
Amenities
- Property Manager on Site
- Waterfront
- Wheelchair Accessible
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
- On-Site Security Staff
- Backup Power / Generators
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Dr. Commite
- -
- -
- -
-
Lorem Ipsum
-
Jan 0000
-
- Health Care and Social Assistance
- -
- -
- -
-
Jan 0000
The mission of Midway Specialty Care Center, as a not-for-profit clinic, is to provide their patients a comprehensive infectious disease care center, with primary care, and access to behavioral health services, gynecological care and nutritional support. Their dedicated team of physicians, physician assistants, nurse practitioners, nurses, medical assistants, and pharmacists work to provide total patient care with dignity to those living with an infectious disease. They have offices in Fort Pierce, Tampa, Wilton Manors, Okeechobee, Orlando, Miami, West Palm Beach, and Port Saint Lucie. We adhere to the World Health Organization’s model of 90/90/90: 90% of all people living with HIV will be identified, 90% of all people with HIV will be on treatment, and 90% of all people receiving antiretroviral therapy will have viral suppression to an undetectable level.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Dr. Commite | - | - | - | Lorem Ipsum | Jan 0000 | |
|
|
Health Care and Social Assistance | - | - | - | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 9th Fl-Ste 950
- 1,449 SF
- Medical
- -
- Now
- 9th Fl-Ste 960
- 1,292 SF
- Medical
- Full Build-Out
- Now
| Space | Size | Space Use | Build-Out | Available |
| 9th Fl-Ste 950 | 1,449 SF | Medical | - | Now |
| 9th Fl-Ste 960 | 1,292 SF | Medical | Full Build-Out | Now |
9th Fl-Ste 950
| Size |
| 1,449 SF |
| Space Use |
| Medical |
| Build-Out |
| - |
| Available |
| Now |
9th Fl-Ste 960
| Size |
| 1,292 SF |
| Space Use |
| Medical |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 02-3222-011-0370 | Improvements Assessment | $31,329,408 CAD |
| Land Assessment | $3,352,656 CAD | Total Assessment | $34,682,064 CAD |
Property Taxes
Parcel Number
02-3222-011-0370
Land Assessment
$3,352,656 CAD
Improvements Assessment
$31,329,408 CAD
Total Assessment
$34,682,064 CAD
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Donald L. Golden Medical Office Building | 4308 Alton Rd
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