Turnkey Medical Center in Little
For Sale
Contact for pricing
721 NW 21st Ct, Miami, FL 33125
Medical center/HMO in Little Havana with development potential.
Property Size11,284 SF
Price / SF$434.24
Days on Market716
Property Features for 721 NW 21st Ct
General Information
Standard status
Active
Size
11,284 SF
Property subtype
Multifamily
Building Details
Year Built
1948
Listing Agency:
North America Realty Advisors
Listed By:
Enrique Enriquez · License #0473986
(305) 229-2070
Source:
Crexi
Added: Nov 1, 2024
Changed: Oct 10
Last Checked: Oct 16 at 9:03AM
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 North America Realty Advisors
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Investment Insights
Based on property information with market context.
This property is a turnkey medical center facility, clinic, or HMO situated in Little Havana, directly on NW 7th Street from 21st Avenue to 21st Court. The facility occupies an entire corner block and includes 50 parking spaces. The location is suitable for investors interested in constructing a high-rise building, offering potential for future development. Located in the heart of Miami, the property is positioned just west of the Downtown Miami Business District and the Brickell financial district. Nearby are Jackson Memorial Hospital, the University of Miami Hospital, and the Miami Marlins stadium. The property size is 11284 square feet.
Key Highlights
- Prime location in Little Havana on NW 7th Street, occupying an entire corner block.
- High‑rise development potential for investors.
- Turn‑key medical facility suitable for a clinic or HMO.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,863
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,737,260
$3.7M
Cap Rate 7%
$2,669,471
$2.7M
Cap Rate 9%
$2,076,256
$2.1M
Market Conditions
NOI Build-Up for 11,284 SF
Gross rent
$338.5K $30.00/SF
− Vacancy
−$27.1K −$2.40/SF
EGI
$311.4K $27.60/SF
− OpEx
−$124.6K −$11.04/SF
NOI
$186.9K $16.56/SF
Area
Miami, FL
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,737,260
Cap Rate 7%
$2,669,471
Cap Rate 9%
$2,076,256
Alternative Uses
Best Use
Healthcare Medical
$2.67M
$2.34M – $3.11M
NOI $186,863 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.62M
$6.66M – $8.89M
NOI $533,174 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,631
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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Medical center - Medical center/HMO in Little Havana with development potential.
Where is this medical center located?
The property is located at 721 NW 21st Ct Miami, FL.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Prime location in Little Havana on NW 7th Street, occupying an entire corner block.; High‑rise development potential for investors.; Turn‑key medical facility suitable for a clinic or HMO.
