Building Details

Year Built 1991

Listing Agency: One Sotheby's International Realty

Listed By: Michael Martinez · License #0694150 Show Phone

Source: Onesothebysrealty

Added: May 14 Changed: Oct 16 Last Checked: Oct 16 at 8:38AM

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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 One Sotheby's International Realty

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Investment Insights

Based on property information with market context.

This property offers an exceptional opportunity to lease professional office space in a central and highly accessible location. The entire 2nd floor is available, offering approximately 2,500 square feet of flexible office space suitable for a variety of professional uses. The layout provides ample workspace, natural light, and functionality for growing businesses seeking a well-positioned location. The 3rd floor is also available, presenting the opportunity to lease an additional 2,500 square feet. The property is conveniently located near major roadways, business centers, dining, and daily conveniences. It is ideal for professional offices, creative firms, medical-related uses, or administrative headquarters seeking a strategic location with flexibility and visibility. The location has a bike score of 83, indicating it is very bikeable. The walk score is 97, designating it as a walker's paradise, and the transit score is 99, marking it as a rider's paradise.

Key Highlights

• Walker's Paradise: Enjoy exceptional walkability with a Walk Score of 97.
• Rider's Paradise: Benefit from excellent public transportation; Transit Score of 99.
• Central and Highly Accessible Location: Conveniently located near major roadways, business centers, dining, and daily conveniences.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$211,456

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,229,120 $4.2M

Cap Rate 7%

$3,020,800 $3.0M

Cap Rate 9%

$2,349,511 $2.3M

What to ask about pricing

Market Conditions

NOI Build-Up for 7,371 SF

Gross rent

$331.7K $45.00/SF

− Vacancy

−$49.8K −$6.75/SF

EGI

$281.9K $38.25/SF

− OpEx

−$70.5K −$9.56/SF

NOI

$211.5K $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 Rate 5%

$4,229,120

Cap Rate 7%

$3,020,800

Cap Rate 9%

$2,349,511

Alternative Uses

Best Use

Office B

$3.02M

$2.64M – $3.52M (±1% cap)

NOI $211,456 @ 7.0% cap · market cap 755,200.00%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$4.98M

$4.35M – $5.80M (±1% cap)

NOI $348,283 @ 7.0% cap · market cap 1,243,867.86%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

So Fresh Produce Agricultural Supply

Suggested Use

Top Pick Electrical Service Daycare Center Grocery & Convenience Store (Bike/Boat/Book/etc) Store Auto Parts Store Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,831

Businesses Nearby

Explore this area Business Placement

Demographics for 33145, FL

29,737

Population

12,773

Households

2.3

Avg Household Size

44

Median Age

42%

College-Educated

85%

High-School Grad

2.5 sq mi

ZIP Area

11,895

Density / Sq Mi

$70,592

Median Household Income

$43,039

Median Earnings

$1,769

Median Rent

$560,300

Median Home Value

Market

Vacancy Rate% for Office in Miami, FL

12.4% 2019

16.3% 2020

17% 2021

16.1% 2022

15% 2023

16.1% 2024

15.2% 2025

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Frequently Asked Questions

What type of property is this?

Office units - 2,500 sq ft office space in central location.

Where is this office units located?

The property is located at 1378 SW 22nd Street Unit 2 Miami, FL.

What are key features of this property?

This property features: Walker's Paradise: Enjoy exceptional walkability with a Walk Score of 97.; Rider's Paradise: Benefit from excellent public transportation; Transit Score of 99.; Central and Highly Accessible Location: Conveniently located near major roadways, business centers, dining, and daily conveniences.