Two-Building Office
For Sale
$2,500,000
3288 NW 36th St Unit 3270 & 3, Miami, FL 33142
Adjacent office buildings offer medical, rehabilitation, and conventional office configurations with an additional residential structure.
Property Size6,088 SF
Price / SF$410.64
Days on Market408
Property Features for 3288 NW 36th St Unit 3270 & 3
General Information
Standard status
Active
Size
6,088 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$12,471
Amenities
3
Shared Driveway.
100
City Road.
Building Details
Year Built
1950
Listing Agency:
(305) 582-2424
Listed By:
Douglas Elliman
(305) 582-2424
Source:
Xome
Added: Jul 19, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:03AM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
This Miami assemblage includes two adjacent office buildings totaling 6,088 SF, arranged for examination, imaging, administrative, and treatment functions. The improvements have supported medical and rehabilitation operations and can also serve conventional office use. The buildings include both one- and two-story components and were built in 1950.
A separate 2/1 house fronts NW 35th St, while paved parking serving the offices is located on part of the overall site. The offering combines 3 folio numbers and encompasses 20,350 SF of land. The 13,500 SF office portion carries T6-8-O zoning with development parameters of up to 46 units and 8 stories. The residential structure sits on 6,850 SF zoned RU-3/duplex in Miami-Dade County. The property may be redeveloped for apartments, retail, or office use, or operated in its current configuration.
A separate 2/1 house fronts NW 35th St, while paved parking serving the offices is located on part of the overall site. The offering combines 3 folio numbers and encompasses 20,350 SF of land. The 13,500 SF office portion carries T6-8-O zoning with development parameters of up to 46 units and 8 stories. The residential structure sits on 6,850 SF zoned RU-3/duplex in Miami-Dade County. The property may be redeveloped for apartments, retail, or office use, or operated in its current configuration.
Key Highlights
- Two adjacent office buildings totaling 6,088 SF
- Medical and rehabilitation layouts with examination, imaging, office, and treatment areas
- Separate 2/1 house fronting NW 35th St
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
6.99%
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 6.99%
Second Best
Healthcare Medical
$1.44M
$1.26M – $1.68M
NOI $100,817 @ 7.0% cap · market cap 4.03%
Theoretical Best
Specialty Retail
$4.11M
$3.60M – $4.79M
NOI $287,661 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Adjacent office buildings offer medical, rehabilitation, and conventional office configurations with an additional residential structure.
Where is this office building located?
The property is located at 3288 NW 36th St Unit 3270 & 3 Miami, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Two adjacent office buildings totaling 6,088 SF; Medical and rehabilitation layouts with examination, imaging, office, and treatment areas; Separate 2/1 house fronting NW 35th St
