Remodeled Freestanding Office
For Sale
$1,125,000
Pending
470 NW 22nd Ave, Miami, FL 33125
COMMERCIAL - Other - Miami, FL
Property Size2,300 SF
Lot Size0.13 Acres
Days on Market19
Property Features for 470 NW 22nd Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6100
Parking
7
Parking features
Assigned
Subdivision
41
Standard status
Pending
APN
01-41-03-035-0190
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
CITY LINE PARK AMD PB 10-13 LOT 23 & N20FT LOT 24 LESS BEG 79.25FTE OF NW COR OF LT 23 TH SELY AD 39.27FT S30FT E5FT N30FT NWLY AD 39.27FT W
Legal Description
CITY LINE PARK AMD PB 10-13 LOT 23 & N20FT LOT 24 LESS BEG 79.25FTE OF NW COR OF LT 23 TH SELY AD 39.27FT S30FT E5FT N30FT NWLY AD 39.27FT W
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Water source
Public
Building Details
Year built
1952
Floors in Building
1
Flooring type
Vinyl
Building materials
Block
Roof type
Concrete
Architectural style
Other
Listing Agency:
Keller Williams Capital Realty · Keller Williams Realty
(305) 662-7325
Listed By:
Damaris Cheang · License #3282026
(786) 278-0380
Added: Aug 1
Changed: Aug 19
Last Checked: Aug 19 at 7:06PM
MLS# A12008107
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.
Freestanding office property with approximately 2,300 SF of interior space, private offices, and two full bathrooms. The building was remodeled and freshly painted inside and out, with vinyl flooring, block construction, and a concrete roof. Central and electric heating serve the interior, while public water and a septic tank provide the listed utilities. The property includes seven assigned parking spaces and occupies 0.1313 acres.
Built in 1952, the property offers a compact office configuration with dedicated rooms and on-site parking. Its street-facing position and reported accessibility support professional, medical, or service-oriented office use as described in the listing information.
Built in 1952, the property offers a compact office configuration with dedicated rooms and on-site parking. Its street-facing position and reported accessibility support professional, medical, or service-oriented office use as described in the listing information.
Key Highlights
- Approximately 2,300 SF of interior office space
- Private offices with 2 full bathrooms
- 7 assigned on‑site parking spaces
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,605
Businesses Nearby
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?
Office units - Remodeled office property with private offices, two bathrooms, and assigned on-site parking.
Where is this office units located?
The property is located at 470 NW 22nd Ave 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: Approximately 2,300 SF of interior office space; Private offices with 2 full bathrooms; 7 assigned on‑site parking spaces
