Freestanding Medical Office Building
For Sale
Contact for pricing
2380 NW 7th St, Miami, FL 33125
Two-story medical office building in Little Havana, Miami.
Property Size14,112 SF
Lot Size0.40 Acres
Price / SF$566.18
Days on Market946
Property Features for 2380 NW 7th St
General Information
Standard status
Active
Size
14,112 SF
Class
C
Total Parking Spaces
26
Lot size
0.40 Acres
Property subtype
Office
Zoning
T6-8-O
Lease Type
NNN
Building Details
Year Built
1930
Buildings
2
Stories
2
Tenancy
Single
Listing Agency:
Lee & Associates - Miami
(305) 987-9733
Listed By:
Aida Nolan-Rodriguez · License #FL 627870
Source:
Crexi
Added: Jan 10, 2024
Changed: Aug 8
Last Checked: May 12 at 10:49PM
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 offers 14,112 square feet of space on a 0.40-acre corner property in Little Havana, Miami. The building is fully built out as a medical facility, featuring patient waiting rooms, exam rooms with plumbing, MRI and X-ray rooms, and a biopsy room. All spaces are fully air-conditioned. Recent renovations include a new roof and an updated outdoor patio area. Optional signage provides exposure to approximately 29,000 vehicles per day. Located on NW 7th Street, a few blocks from 27th Avenue, the property offers access to the UM/Jackson Health District and Downtown/Brickell. Accessibility is enhanced by its proximity to major expressways: 0.8 miles from the Dolphin Expressway SR/836, 3.1 miles from I-95, and 5.9 miles from the Palmetto Expressway SR/826. Miami International Airport is 8.6 miles away, and Fort Lauderdale–Hollywood International Airport is 24.8 miles away. Zoned T6-8-O Miami21, the property allows for high-density mixed-use development in the future, making it suitable for businesses seeking a prominent presence in Miami.
Key Highlights
- Freestanding 14,112 SF two‑story medical office building in Little Havana, Miami.
- Built‑out medical facility with patient waiting rooms, exam rooms with plumbing, MRI and X‑ray rooms, and Biopsy room.
- Strategic location near UM/Jackson Health District and Downtown/Brickell with excellent access to major expressways and Miami International Airport.
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,973
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
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 - Two-story medical office building in Little Havana, Miami.
Where is this medical office space located?
The property is located at 2380 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: Freestanding 14,112 SF two‑story medical office building in Little Havana, Miami.; Built‑out medical facility with patient waiting rooms, **exam rooms with plumbing, MRI and X‑ray rooms, and Biopsy room.**; Strategic location near UM/Jackson Health District and Downtown/Brickell with excellent access to major expressways and Miami International Airport.
