Free-Standing Medical Office
For Sale
$9,500,000
2801 SW 3rd Ave, Miami, FL 33129
Built in 2019 with underground parking and floor-to-ceiling glass, this Class A medical office totals 23,231 SF.
Property Size23,231 SF
Price / SF$408.94
Days on Market34
Property Features for 2801 SW 3rd Ave
General Information
Standard status
Active
Size
23,231 SF
Class
A
Zoning
T6-8O
Amenities
underground parking
floor-to-ceiling glass
rooftop area
Building Details
Year Built
2019
Construction
CBS
Listing Agency:
Premier Properties
(305) 790-6125
Listed By:
Ivette Agusti · License #0650960
Source:
Mymiahomes
Added: Jul 23
Changed: Aug 17
Last Checked: Aug 24 at 10:02AM
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 Premier Properties
Investment Insights
Based on property information with market context.
Free-standing Class A medical office building built in 2019 with CBS construction. The property includes underground parking, floor-to-ceiling glass, and rooftop area. Over $4M in tenant improvements and medical buildout have been completed.
The building is positioned for Miami’s highest-intensity urban core transect under T6-8O, supporting medical office uses and related healthcare services by right, including surgical suites, outpatient procedure centers, and dental/oral surgery operations. Vacancy is described as being at a historic low of 6.1%, with new construction supply virtually nonexistent.
With 23,231 SF, the offering presents an owner-user or healthcare investment profile based on pro forma performance referenced in the remarks.
The building is positioned for Miami’s highest-intensity urban core transect under T6-8O, supporting medical office uses and related healthcare services by right, including surgical suites, outpatient procedure centers, and dental/oral surgery operations. Vacancy is described as being at a historic low of 6.1%, with new construction supply virtually nonexistent.
With 23,231 SF, the offering presents an owner-user or healthcare investment profile based on pro forma performance referenced in the remarks.
Key Highlights
- Free‑standing Class A Brickell medical office building built in 2019 with CBS construction
- 23,231 SF building with floor‑to‑ceiling glass and rooftop area
- Underground parking
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
$666,439
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
7.02%
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%
$13,328,780
$13.3M
Cap Rate 7%
$9,520,557
$9.5M
Cap Rate 9%
$7,404,878
$7.4M
Market Conditions
NOI Build-Up for 23,231 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
$1.05M $45.00/SF
− Vacancy
−$156.8K −$6.75/SF
EGI
$888.6K $38.25/SF
− OpEx
−$222.1K −$9.56/SF
NOI
$666.4K $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%
$13,328,780
Cap Rate 7%
$9,520,557
Cap Rate 9%
$7,404,878
Alternative Uses
Best Use
Office B
$9.52M
$8.33M – $11.11M
NOI $666,439 @ 7.0% cap · market cap 7.02%
Second Best
Healthcare Medical
$5.50M
$4.81M – $6.41M
NOI $384,705 @ 7.0% cap · market cap 4.05%
Theoretical Best
Specialty Retail
$15.68M
$13.72M – $18.29M
NOI $1,097,675 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,325
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33129, FL
15,218
Population
8,275
Households
1.8
Avg Household Size
44
Median Age
68%
College-Educated
97%
High-School Grad
1.4 sq mi
ZIP Area
10,870
Density / Sq Mi
$102,969
Median Household Income
$54,935
Median Earnings
$2,241
Median Rent
$573,900
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built in 2019 with underground parking and floor-to-ceiling glass, this Class A medical office totals 23,231 SF.
Where is this medical office space located?
The property is located at 2801 SW 3rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Free‑standing Class A Brickell medical office building built in 2019 with CBS construction; 23,231 SF building with floor‑to‑ceiling glass and rooftop area; Underground parking
