MIAMI—South Miami Medical Center, a 12,933-square foot Class-A medical office building located in Miami, has traded hands. The healthcare real estate asset sold for $5 million.

Marcus & Millichap first vice president of Investments Douglas K. Mandel and senior associate Benjamin H. Silver in the Fort Lauderdale office had the exclusive listing to market the property on behalf of the seller, a private investor from Miami. The duo also secured and represented the buyer, a limited liability company from Aventura, FL.

“South Miami Medical Center represented a unique opportunity to acquire a single-tenant net-leased medical office building fully leased and guaranteed by South Miami Hospital, an A-plus rated tenant,’ says Silver. “The original lease has five years remaining with two five-year options and annual escalations of 3 percent. The tenant is responsible for all expenses except for roof and structure providing the buyer with a strong passive investment opportunity.”

Built in 2008, South Miami Medical Center is located at 6900 SW 80th Street in Miami. The medical office property comes with covered parking and additional parking located on the premises.