Medical Office
For Sale
$1,900,000
Pending
3288 NW 36th St, Miami, FL 33142
Commercial Sale, Miami, FL
Property Size6,088 SF
Lot Size0.47 Acres
Days on Market70
Property Features for 3288 NW 36th St
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
6100
Directions
Drive By. Text to schedule a call to discuss in more detail. Text for interior video tours. Survey & Building Sketches attached.
Subdivision
31
Standard status
Pending
APN
01-31-28-013-0800
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
MELROSE HGTS 4TH SEC PB 17-21 LOT 10 BLK 45 LOT SIZE 50.000 X 135 OR 20970-0844 1202 1
Tax Annual Amount
12471
Legal Description
MELROSE HGTS 4TH SEC PB 17-21 LOT 10 BLK 45 LOT SIZE 50.000 X 135 OR 20970-0844 1202 1
Utilities
Water source
Public
Building Details
Year built
1950
Listing Agency:
Douglas Elliman
(305) 677-5000
Listed By:
Brian Carter PA · License #3022095
(305) 582-2424
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 7 at 10:06PM
MLS# A11866198
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property includes two adjacent office buildings totaling 6,088 SF, configured for medical and rehabilitation operations. Existing layouts include examination, X-ray, office, treatment, and rehabilitation areas across one- and two-story structures. A separate 2/1 house fronts NW 35th St, while paved parking serves the office buildings on NE 36th St. The improvements date to 1950 and receive public water.
The assemblage combines three folio numbers and totals 20,350 SF of land. The primary 13,500 SF portion is zoned T6-8-O, with stated development parameters of up to 46 units and 8 stories. The additional 6,850 SF residential parcel is zoned RU-3/duplex in Miami-Dade County. Existing medical or standard office use is supported, with redevelopment concepts identified for apartments, retail, or office.
The assemblage combines three folio numbers and totals 20,350 SF of land. The primary 13,500 SF portion is zoned T6-8-O, with stated development parameters of up to 46 units and 8 stories. The additional 6,850 SF residential parcel is zoned RU-3/duplex in Miami-Dade County. Existing medical or standard office use is supported, with redevelopment concepts identified for apartments, retail, or office.
Key Highlights
- Two adjacent office buildings totaling 6,088 SF
- Configured with examination, X‑ray, office, treatment, and rehabilitation areas
- Additional 2/1 house on 6,850 SF zoned RU‑3/duplex
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$174,650
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,493,000
$3.5M
Cap Rate 7%
$2,495,000
$2.5M
Cap Rate 9%
$1,940,556
$1.9M
Market Conditions
NOI Build-Up for 6,088 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$274.0K $45.00/SF
− Vacancy
−$41.1K −$6.75/SF
EGI
$232.9K $38.25/SF
− OpEx
−$58.2K −$9.56/SF
NOI
$174.6K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,493,000
Cap Rate 7%
$2,495,000
Cap Rate 9%
$1,940,556
Alternative Uses
Best Use
Office B
$2.49M
$2.18M – $2.91M
NOI $174,650 @ 7.0% cap · market cap 9.19%
Second Best
Healthcare Medical
$1.44M
$1.26M – $1.68M
NOI $100,817 @ 7.0% cap · market cap 5.31%
Theoretical Best
Specialty Retail
$4.11M
$3.60M – $4.79M
NOI $287,661 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,419
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Shipping Port Veterinarian — 4703 NW 27th Ave, Miami, FL 33142
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two adjacent buildings support medical and rehabilitation uses, with an additional residence and paved parking included.
Where is this medical office space located?
The property is located at 3288 NW 36th St Miami, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Two adjacent office buildings totaling 6,088 SF; Configured with examination, X‑ray, office, treatment, and rehabilitation areas; Additional 2/1 house on 6,850 SF zoned RU‑3/duplex
