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    2380 NW 7th St Miami, FL 33125

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    Two-story medical office building in Little Havana, Miami.

    Type:Office
    Property size:
    14,112 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $566/SF
    Added:
    Jan 10, 2024
    Days on Market:
    843
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 2380 NW 7th St

    General Information

    Standard status
    Active
    Size
    14,112 SF
    Lot size
    0.40 Acres
    Property subtype
    Office

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Aida Nolan-Rodriguez

    Listing agent Aida Nolan-Rodriguez License #FL 627870

    Listing office Lee & Associates - Miami

    Listing date Jan 10, 2024

    Source Crexi

    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 Lee & Associates - Miami

    Overview

    Freestanding Medical Office Building Miami

    This freestanding, two-story medical office building offers 14,112 square feet of space on a 0.40-acre corner property in Little Havana, Miami. The building is fully built out as a medical facility, featuring patient waiting rooms, exam rooms with plumbing, MRI and X-ray rooms, and a biopsy room. All spaces are fully air-conditioned. Recent renovations include a new roof and an updated outdoor patio area. Optional signage provides exposure to approximately 29,000 vehicles per day. Located on NW 7th Street, a few blocks from 27th Avenue, the property offers access to the UM/Jackson Health District and Downtown/Brickell. Accessibility is enhanced by its proximity to major expressways: 0.8 miles from the Dolphin Expressway SR/836, 3.1 miles from I-95, and 5.9 miles from the Palmetto Expressway SR/826. Miami International Airport is 8.6 miles away, and Fort Lauderdale–Hollywood International Airport is 24.8 miles away. Zoned T6-8-O Miami21, the property allows for high-density mixed-use development in the future, making it suitable for businesses seeking a prominent presence in Miami.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Animal Sterilization and Immunization Services — 3240 NW 7th St, Miami, FL 33125
    • Animal Clinic — Miami, FL 33135
    • Central Veterinary Clinic — 1718 W Flagler St, Miami, FL 33135
    • Vet Allergy Care LLC — 330 SW 27th Ave, Miami, FL 33135
    • Miami Pet Clinic — 2485 W Flagler St # 3, Miami, FL 33135

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.23434
    Latitude
    25.766

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    FAQs

    What type of property is this?
    Medical Office Space - Two-story medical office building in Little Havana, Miami.
    Where is this medical office space located?
    The property is located at 2380 NW 7th St Miami, FL.
    What is the asking price?
    The asking price for this property is $7,990,000.
    What are key features of this property?
    This property features: Freestanding 14,112 SF two‑story medical office building in Little Havana, Miami.; Built‑out medical facility with patient waiting rooms, **exam rooms with plumbing, MRI and X‑ray rooms, and Biopsy room.**; Strategic location near UM/Jackson Health District and Downtown/Brickell with excellent access to major expressways and Miami International Airport.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Aida Nolan-Rodriguez
    Real Estate License ID: FL 627870
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    2380 NW 7th St, Miami, FL 33125

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