Two-Story Medical Office
For Sale
Contact for pricing
2380-2390 NW 7th St, Miami, FL 33125
Freestanding two-story medical office built for full patient-care use with divisible floorplates.
Property Size14,112 SF
Lot Size0.40 Acres
Price / SF$566.18
Days on Market957
Property Features for 2380-2390 NW 7th St
General Information
Standard status
Active
Size
14,112 SF
Lot size
0.40 Acres
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
patient waiting rooms
exam rooms with plumbing
MRI and X-Ray rooms
Biopsy room
patio
optional signage exposure
Building Details
Buildings
1
Stories
2
Building Size
14,112 SF
Listing Agency:
Lee & Associates | Miami
(305) 235-1500
Listed By:
Aida Nolan-Rodriguez · License ##BK3531035
(305) 987-9733
Source:
Moodyscre
Added: Feb 2, 2024
Changed: Sep 12
Last Checked: Sep 15 at 9:43AM
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 Lee & Associates | Miami
Investment Insights
Based on property information with market context.
This freestanding two-story medical office building is built out entirely for a state of the medical facility totaling 14,112 SF across two 7,056 SF floorplates. Each floorplate is described as divisible to create smaller 2,000 SF units, supporting flexible clinical layouts. The space includes patient waiting rooms, exam rooms with plumbing, and dedicated clinical rooms for MRI and X-Ray, plus a biopsy room.
The property sits on a 0.40-acre corner site in Little Havana at 2380–2390 NW 7th St, with access to the UM/Jackson Health District and Downtown/Brickell. The building is fully air-conditioned and has recent renovations, including a new roof and patio.
Visibility options include optional signage exposure to 29,000 vehicles per day. Nearby access is described as 0.8 miles to Dolphin Expressway SR/836, 3.1 miles to I-95, and 5.9 miles to Palmetto Expressway SR/826, with Miami International Airport at 8.6 miles and Fort Lauderdale–Hollywood International Airport at 24.8 miles.
The property sits on a 0.40-acre corner site in Little Havana at 2380–2390 NW 7th St, with access to the UM/Jackson Health District and Downtown/Brickell. The building is fully air-conditioned and has recent renovations, including a new roof and patio.
Visibility options include optional signage exposure to 29,000 vehicles per day. Nearby access is described as 0.8 miles to Dolphin Expressway SR/836, 3.1 miles to I-95, and 5.9 miles to Palmetto Expressway SR/826, with Miami International Airport at 8.6 miles and Fort Lauderdale–Hollywood International Airport at 24.8 miles.
Key Highlights
- 14,112 SF two‑story freestanding medical office built for clinical use
- Divisible 7,056 SF floorplates to approximately 2,000 SF units
- Patient waiting rooms, exam rooms with plumbing, MRI, X‑Ray, and biopsy room
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
$404,838
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
5.07%
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%
$8,096,760
$8.1M
Cap Rate 7%
$5,783,400
$5.8M
Cap Rate 9%
$4,498,200
$4.5M
Market Conditions
NOI Build-Up for 14,112 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
$635.0K $45.00/SF
− Vacancy
−$95.3K −$6.75/SF
EGI
$539.8K $38.25/SF
− OpEx
−$134.9K −$9.56/SF
NOI
$404.8K $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%
$8,096,760
Cap Rate 7%
$5,783,400
Cap Rate 9%
$4,498,200
Alternative Uses
Best Use
Office B
$5.78M
$5.06M – $6.75M
NOI $404,838 @ 7.0% cap · market cap 5.07%
Second Best
Healthcare Medical
$3.34M
$2.92M – $3.89M
NOI $233,695 @ 7.0% cap · market cap 2.92%
Theoretical Best
Specialty Retail
$9.53M
$8.33M – $11.11M
NOI $666,798 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,267
Businesses Nearby
Under-served
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 - Freestanding two-story medical office built for full patient-care use with divisible floorplates.
Where is this medical office space located?
The property is located at 2380-2390 NW 7th St Miami, FL.
What is the asking price?
The asking price for this property is $7,990,000.
What are key features of this property?
This property features: 14,112 SF two‑story freestanding medical office built for clinical use; Divisible 7,056 SF floorplates to approximately 2,000 SF units; Patient waiting rooms, exam rooms with plumbing, MRI, X‑Ray, and biopsy room
