Freestanding Medical Office
For Sale
$10,000,000
2801 SW 3rd Ave, Miami, FL 33129
Built in 2019 with underground parking and floor-to-ceiling glass, designed for right-by zoning medical uses.
Property Size23,231 SF
Price / SF$430.46
Days on Market78
Property Features for 2801 SW 3rd Ave
General Information
Standard status
Active
Size
23,231 SF
Class
A
Zoning
6100
Occupancy
94%
Amenities
Detached
Building Details
Building Size
23,231 SF
Year Built
2019
Listing Agency:
Premier Properties
(305) 790-6125
Listed By:
Ivette Agusti · License #0650960
(305) 790-6125
Source:
Evrealestate
Added: Jun 9
Changed: Aug 24
Last Checked: Aug 24 at 3:50AM
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.
This freestanding Class A medical office building was built in 2019 with CBS construction and a brick exterior. The property includes underground parking, floor-to-ceiling glass, and a rooftop area, supporting a modern healthcare environment. With more than $4.0 million in tenant improvements and medical buildout, the facility is positioned for specialized outpatient and clinical workflows.
Located at 2801 SW 3rd Ave in Miami, the building is configured for medical use under the T6-8O medical office transect referenced in Miami 21. The zoning is described as providing by-right allowance for medical offices, surgical suites, outpatient procedure centers, and dental/oral surgery operations.
For owner-users and healthcare operators, the combination of newer construction, substantial medical improvements, and a site designed around right-by outpatient and surgical use can reduce buildout risk compared with older facilities. Investors evaluating healthcare real estate may also focus on the building’s specialized medical design elements, including the underground parking and high-performance fenestration, which can support ongoing patient-facing operations in a dedicated medical product.
Located at 2801 SW 3rd Ave in Miami, the building is configured for medical use under the T6-8O medical office transect referenced in Miami 21. The zoning is described as providing by-right allowance for medical offices, surgical suites, outpatient procedure centers, and dental/oral surgery operations.
For owner-users and healthcare operators, the combination of newer construction, substantial medical improvements, and a site designed around right-by outpatient and surgical use can reduce buildout risk compared with older facilities. Investors evaluating healthcare real estate may also focus on the building’s specialized medical design elements, including the underground parking and high-performance fenestration, which can support ongoing patient-facing operations in a dedicated medical product.
Key Highlights
- Freestanding Class A medical office building built in 2019 with CBS construction
- 23,231 SF building with underground parking and floor‑to‑ceiling glass
- Rooftop area and built for right‑by zoning medical uses (medical offices, surgical suites, outpatient procedure centers, dental/oral surgery)
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
6.66%
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 6.66%
Second Best
Healthcare Medical
$5.50M
$4.81M – $6.41M
NOI $384,705 @ 7.0% cap · market cap 3.85%
Theoretical Best
Specialty Retail
$15.68M
$13.72M – $18.29M
NOI $1,097,675 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
93.9%
Occupancy
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, designed for right-by zoning medical uses.
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 $10,000,000.
What are key features of this property?
This property features: Freestanding Class A medical office building built in 2019 with CBS construction; 23,231 SF building with underground parking and floor‑to‑ceiling glass; Rooftop area and built for right‑by zoning medical uses (medical offices, surgical suites, outpatient procedure centers, dental/oral surgery)
