Medical Office
New
For Sale
$1,210,900
2820 NE 214th ST, Miami, FL 33180
Commercial Sale, FL
Property Size1,226 SF
Lot Size1.63 Acres
Price / SF$987.68
Days on Market2
Property Features for 2820 NE 214th ST
General Information
Property type
Commercial Sale
Property subtype
Office
Property condition
Under Construction
Zoning description
MO
Parking
364
Parking features
Assigned, Guest, Garage, Covered, Valet
Security features
Security System
Directions
From I-95, exit Ives Dairy Rd east to Biscayne Blvd, then north to NE 214th St. Property at 2820 NE 214th St, Aventura (sales gallery on site).
Subdivision
12
Standard status
Active
Lot size
1.63 Acres
Taxes and HOA fees
Tax Description
Vitalis Tower Developer Unit 603
Legal Description
Vitalis Tower Developer Unit 603
Amenities
double-height lobby
valet
cafe lounge
conference room
on-site fitness/wellness/SPA
Building Details
Year built
2029
Listing Agency:
Fortune International Realty
(305) 400-6393
Listed By:
Nadezhda Gribanova · License #3334842
(305) 833-0577
Added: Sep 28
Last Checked: Sep 29 at 1:06AM
MLS# A12092906
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Unit 603 is a 1,226-square-foot fee-simple office unit offered in grey-box condition, with 11.8-foot ceilings. The seven-story building is under construction and is scheduled for occupancy in Q1 2029. Building amenities include a double-height lobby, café lounge, conference room, fitness and wellness facilities, spa, four elevators, EV parking, and valet service.
The property at 2820 NE 214th St is described as steps from HCA Aventura Hospital. MO zoning allows full medical uses. Assigned, guest, covered, garage, and valet parking are listed among the parking features.
The property at 2820 NE 214th St is described as steps from HCA Aventura Hospital. MO zoning allows full medical uses. Assigned, guest, covered, garage, and valet parking are listed among the parking features.
Key Highlights
- Unit 603 offers 1,226 SF in grey‑box condition with 11.8' ceilings
- Fee‑simple ownership in a seven‑story office building
- MO zoning for full medical uses
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
$35,171
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
2.90%
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%
$703,420
$703.4K
Cap Rate 7%
$502,443
$502.4K
Cap Rate 9%
$390,789
$390.8K
Market Conditions
NOI Build-Up for 1,226 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
$55.2K $45.00/SF
− Vacancy
−$8.3K −$6.75/SF
EGI
$46.9K $38.25/SF
− OpEx
−$11.7K −$9.56/SF
NOI
$35.2K $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%
$703,420
Cap Rate 7%
$502,443
Cap Rate 9%
$390,789
Alternative Uses
Best Use
Office B
$502.4K
$439.6K – $586.2K
NOI $35,171 @ 7.0% cap · market cap 2.90%
Second Best
Healthcare Medical
$290.0K
$253.8K – $338.4K
NOI $20,303 @ 7.0% cap · market cap 1.68%
Theoretical Best
Specialty Retail
$827.6K
$724.1K – $965.5K
NOI $57,929 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,528
Businesses Nearby
Explore this area
Business Placement
Demographics for 33180, FL
35,062
Population
21,112
Households
1.7
Avg Household Size
45
Median Age
55%
College-Educated
95%
High-School Grad
3.3 sq mi
ZIP Area
10,625
Density / Sq Mi
$88,613
Median Household Income
$51,612
Median Earnings
$2,480
Median Rent
$471,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Miami, FL
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Frequently Asked Questions
What type of property is this?
Office units - MO zoning supports full medical uses, with shared conference, fitness, wellness, and café amenities in the building.
Where is this office units located?
The property is located at 2820 NE 214th ST Miami, FL.
What is the asking price?
The asking price for this property is $1,210,900.
What are key features of this property?
This property features: Unit 603 offers 1,226 SF in grey‑box condition with 11.8' ceilings; Fee‑simple ownership in a seven‑story office building; MO zoning for full medical uses
