Turnkey Medical Office
For Sale
$1,125,000
470 Northwest 22nd Avenue, Miami, FL 33125
Freestanding, fully remodeled office building with six private offices, two full bathrooms, and seven on-site parking spaces.
Property Size2,300 SF
Price / SF$489.13
Days on Market205
Property Features for 470 Northwest 22nd Avenue
General Information
Standard status
Active
Size
2,300 SF
Total Parking Spaces
7
Property subtype
Commercial Sale / Mixed Use
Amenities
Electric
1.0
Vinyl
1
2
Building
CBS
Concrete
6
Free Standing
No
Security Fence, Smoke Detector(s)
Building Details
Year Built
1952
Listing Agency:
Keller Williams Capital Realty
Listed By:
Damaris Cheang · License #3282026
(786) 278-0380
Source:
Compass
Added: Feb 13
Changed: Aug 8
Last Checked: Jul 28 at 12:54PM
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 Keller Williams Capital Realty
Investment Insights
Based on property information with market context.
This freestanding commercial office building has been fully remodeled and is presented turnkey. The interior layout includes six private offices and two full bathrooms. Fresh interior and exterior paint supports a clean, move-in-ready appearance for an appropriate professional or office-oriented user.
The property is positioned in a high-traffic Miami location and is described as offering strong street visibility and excellent accessibility, supported by its freestanding configuration. Parking is available on site with seven spaces.
For day-to-day operations, the space is configured for separate work areas through multiple private offices while maintaining convenient access to restrooms through two full bathrooms.
The property is positioned in a high-traffic Miami location and is described as offering strong street visibility and excellent accessibility, supported by its freestanding configuration. Parking is available on site with seven spaces.
For day-to-day operations, the space is configured for separate work areas through multiple private offices while maintaining convenient access to restrooms through two full bathrooms.
Key Highlights
- Freestanding 1‑story commercial office building built in 1952 with CBS construction and a concrete roof
- Approximately 2,300 SF of interior space with electric heating and vinyl flooring
- Layout includes 6 private offices plus 2 full bathrooms (2 toilets total)
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
$65,981
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
5.86%
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%
$1,319,620
$1.3M
Cap Rate 7%
$942,586
$942.6K
Cap Rate 9%
$733,122
$733.1K
Market Conditions
NOI Build-Up for 2,300 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
$103.5K $45.00/SF
− Vacancy
−$15.5K −$6.75/SF
EGI
$88.0K $38.25/SF
− OpEx
−$22.0K −$9.56/SF
NOI
$66.0K $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%
$1,319,620
Cap Rate 7%
$942,586
Cap Rate 9%
$733,122
Alternative Uses
Best Use
Office B
$942.6K
$824.8K – $1.10M
NOI $65,981 @ 7.0% cap · market cap 5.86%
Second Best
Healthcare Medical
$544.1K
$476.1K – $634.8K
NOI $38,088 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,676 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
498
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding, fully remodeled office building with six private offices, two full bathrooms, and seven on-site parking spaces.
Where is this medical office space located?
The property is located at 470 Northwest 22nd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Freestanding 1‑story commercial office building built in 1952 with CBS construction and a concrete roof; Approximately 2,300 SF of interior space with electric heating and vinyl flooring; Layout includes 6 private offices plus 2 full bathrooms (2 toilets total)
