Turnkey Medical Office
For Sale
$1,125,000
Pending
470 NW 22nd Ave, Miami, FL 33125
Fully remodeled freestanding office with 6 private offices, 2 full bathrooms, and 7 on-site parking spaces.
Property Size2,300 SF
Days on Market31
Property Features for 470 NW 22nd Ave
General Information
Standard status
Pending
Size
2,300 SF
Total Parking Spaces
7
Building Details
Year Built
1952
Listing Agency:
Keller Williams Capital Realty
(786) 278-0380
Listed By:
Damaris Cheang · License #3282026
Source:
Mymiahomes
Added: Jul 20
Changed: Aug 16
Last Checked: Aug 19 at 10:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Capital Realty
Investment Insights
Based on property information with market context.
Freestanding, fully remodeled commercial property offered for sale, with approximately 2,300 SF of interior space. The current layout includes 6 private offices and 2 full bathrooms, and the interior and exterior have been freshly painted. The property is presented as turnkey for immediate occupancy.
The offering is positioned in a high-traffic Miami location with strong street visibility and accessibility.
On-site parking is available with 7 spaces, supporting professional and service-oriented office operations.
The offering is positioned in a high-traffic Miami location with strong street visibility and accessibility.
On-site parking is available with 7 spaces, supporting professional and service-oriented office operations.
Key Highlights
- Freestanding commercial office built in 1952, fully remodeled
- Approx. 2,300 SF interior space with a layout designed for professional office use
- 6 private offices plus 2 full bathrooms
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
$65,981
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
5.86%
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%
$1,319,620
$1.3M
Cap Rate 7%
$942,586
$942.6K
Cap Rate 9%
$733,122
$733.1K
Market Conditions
NOI Build-Up for 2,300 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
$103.5K $45.00/SF
− Vacancy
−$15.5K −$6.75/SF
EGI
$88.0K $38.25/SF
− OpEx
−$22.0K −$9.56/SF
NOI
$66.0K $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%
$1,319,620
Cap Rate 7%
$942,586
Cap Rate 9%
$733,122
Alternative Uses
Best Use
Office B
$942.6K
$824.8K – $1.10M
NOI $65,981 @ 7.0% cap · market cap 5.86%
Second Best
Healthcare Medical
$544.1K
$476.1K – $634.8K
NOI $38,088 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,676 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,605
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully remodeled freestanding office with 6 private offices, 2 full bathrooms, and 7 on-site parking spaces.
Where is this medical office space located?
The property is located at 470 NW 22nd Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Freestanding commercial office built in 1952, fully remodeled; Approx. 2,300 SF interior space with a layout designed for professional office use; 6 private offices plus 2 full bathrooms
