Miami medical office cap rates
Miami-Dade County · Updated September 2026
Current range
6.50% – 7.50%
Medical office has held value better than general office.
Typical expenses
30%
of collected income, paid by the owner
What moves a medical office property within the range
- Proximity to hospitals. Buildings near a major hospital campus trade at a premium.
- Tenant quality. Health system tenants lower the cap rate.
- Build-out. Medical space is expensive to build, so tenants tend to stay.
- Location and age. Core neighborhoods trade about 0.25% tighter, outer markets about 0.50% wider, and buildings from before 1980 about 0.25% wider.
What a quarter point is worth
Take a medical office property with $500,000 of net operating income. At today’s range, every 0.25% change in cap rate moves its value by about $246,305.
| Cap rate | Value at $500,000 NOI |
|---|---|
| 6.25% | $8,000,000 |
| 6.50% | $7,692,308 |
| 7.00% | $7,142,857 |
| 7.50% | $6,666,667 |
| 7.75% | $6,451,613 |
Questions
What is a good cap rate for medical office in Miami?
Stabilized medical office properties in Miami-Dade are trading at 6.50% to 7.50%. A lower cap rate means a higher price for the same income. Whether a given cap rate is good depends on whether you are buying or selling.
How do I calculate the value of a medical office property?
Divide the net operating income by the cap rate. A property netting $500,000 a year at a 7.00% cap rate is worth about $7,142,857.
What expenses come out of net operating income?
Property taxes, insurance, repairs, management, utilities the owner pays and reserves. Not the mortgage. For medical office, owner-paid expenses typically run about 30% of collected income.
Other property types: Multifamily (10+ units) · Small multifamily (2–9 units) · Retail / strip center · Single-tenant net lease · Office · Industrial / warehouse · Mixed use · Self storage · Hotel / motel · Auto service / gas. Land values by neighborhood: see the table.
What is your medical office property worth?
Enter your address and we pull the county record. Add your rent and expenses and you will see your cap rate and value range against today's medical office market. It is free.
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