Two-Building Office
For Sale
$1,900,000
3288 NW 36th St, Miami, FL 33142
SINGLE_FAMILY - Miami, FL
Property Size6,088 SF
Lot Size0.47 Acres
Price / SF$312.09
Days on Market58
Property Features for 3288 NW 36th St
General Information
Property type
Residential
Property subtype
Office
Zoning description
6100
Directions
Drive By. Text to schedule a call to discuss in more detail. Text for interior video tours. Survey & Building Sketches attached.
Subdivision
31
Standard status
Active
APN
01-31-28-013-0800
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
MELROSE HGTS 4TH SEC PB 17-21 LOT 10 BLK 45 LOT SIZE 50.000 X 135 OR 20970-0844 1202 1
Tax Annual Amount
12471
Legal Description
MELROSE HGTS 4TH SEC PB 17-21 LOT 10 BLK 45 LOT SIZE 50.000 X 135 OR 20970-0844 1202 1
Utilities
Water source
Public
Building Details
Year built
1950
Listing Agency:
Douglas Elliman
(305) 677-5000
Listed By:
Brian Carter PA · License #3022095
(305) 582-2424
Added: Jun 16
Changed: Aug 3
Last Checked: Aug 12 at 10:06AM
MLS# A11866198
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.
This office assemblage includes 2 adjacent buildings totaling 6,088 SF, with a combination of 1-story and 2-story improvements. Existing layouts include examination, X-ray, office, treatment, and rehabilitation areas, while the buildings may also serve conventional office functions. A separate 2-bedroom, 1-bath house is positioned at the rear, with paved parking serving the office buildings.
The property is offered as an assembly of 3 folio numbers. The office component occupies 13,500 SF of land zoned T6-8-O, which allows development of up to 46 units and up to 8 stories. The rear residential parcel contains 6,850 SF and is zoned RU-3/duplex in Miami-Dade County, bringing the combined land area to 20,350 SF, or 0.4672 acres. Public water serves the property, which was built in 1950.
The property is offered as an assembly of 3 folio numbers. The office component occupies 13,500 SF of land zoned T6-8-O, which allows development of up to 46 units and up to 8 stories. The rear residential parcel contains 6,850 SF and is zoned RU-3/duplex in Miami-Dade County, bringing the combined land area to 20,350 SF, or 0.4672 acres. Public water serves the property, which was built in 1950.
Key Highlights
- 2 adjacent office buildings totaling 6,088 SF
- Medical, rehabilitation, examination, X‑ray, office, and treatment layouts
- Additional 2‑bedroom, 1‑bath house on 6,850 SF
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
$174,650
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
9.19%
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%
$3,493,000
$3.5M
Cap Rate 7%
$2,495,000
$2.5M
Cap Rate 9%
$1,940,556
$1.9M
Market Conditions
NOI Build-Up for 6,088 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
$274.0K $45.00/SF
− Vacancy
−$41.1K −$6.75/SF
EGI
$232.9K $38.25/SF
− OpEx
−$58.2K −$9.56/SF
NOI
$174.6K $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%
$3,493,000
Cap Rate 7%
$2,495,000
Cap Rate 9%
$1,940,556
Alternative Uses
Best Use
Office B
$2.49M
$2.18M – $2.91M
NOI $174,650 @ 7.0% cap · market cap 9.19%
Second Best
Healthcare Medical
$1.44M
$1.26M – $1.68M
NOI $100,817 @ 7.0% cap · market cap 5.31%
Theoretical Best
Specialty Retail
$4.11M
$3.60M – $4.79M
NOI $287,661 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,419
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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?
Office building - The assemblage includes medical and rehabilitation layouts, conventional office potential, a separate house, and paved parking.
Where is this office building located?
The property is located at 3288 NW 36th St Miami, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 2 adjacent office buildings totaling 6,088 SF; Medical, rehabilitation, examination, X‑ray, office, and treatment layouts; Additional 2‑bedroom, 1‑bath house on 6,850 SF
