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    2020 NW 89Th Pl Miami, FL 33172

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    For Sale
    Contact for pricing

    28,383 SF warehouse with refrigeration near Miami Airport.

    Property size:
    28,084 SF

    Property Features for 2020 NW 89Th Pl

    General Information

    Size
    28,084 SF

    Building Details

    Year built
    1984
    Source: Naiglobal

    Listing Agent: Gabriel Garcia-Menocal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Doral Warehouse with Refrigeration

    The property features a total of approximately 28,383 square feet, including approximately 24,979 square feet of warehouse space equipped with refrigeration and drains, approximately 2,762 square feet of office space divided into two separate two-story pods, and approximately 642 square feet dedicated to a quality control room. The warehouse has seven dock-high doors and a clearance height of approximately 20 feet overall, with approximately 17 feet inside the coolers. A diesel generator is available on-site. Parking is provided at a ratio of 1 space per 1,000 square feet. The property includes a 95-foot truck court. It is zoned for intensive use (7600). The property benefits from heavy power capabilities. It offers immediate access to NW 25th Street and is located minutes from Miami International Airport (MIA). The location provides easy access to the Port of Miami and Port Everglades. Accessibility is enhanced via the Palmetto Expressway (SR-826), Florida’s Turnpike, the Dolphin Expressway (SR-836), and all major thoroughfares.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Royal Flower Lodge Floral Sense, Inc. Importer Royal Atlantic Developers ... Real Estate Developer Royal Flowers Group ... Wholesale Florist

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Building Supply Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Similar Places Nearby

    Doral Cold Storage, statlog.net, Andis Moving, Cold 18, MEGA PREMIER WAREHOUSING, LLC

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.343092
    Latitude
    25.792943

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    FAQs

    What type of property is this?
    Warehouse - 28,383 SF warehouse with refrigeration near Miami Airport.
    Where is this warehouse located?
    The property is located at 2020 NW 89Th Pl Miami, FL.
    What is the asking price?
    The asking price for this property is $29.
    What are key features of this property?
    This property features: - ± 24,979 RSF warehouse with refrigeration and drains; - Features seven (7) dock high doors; - Immediate access to NW 25th Street and minutes from Miami International Airport (MIA)
    (786) 433-3148
    Request Owner's contact information
    2020 NW 89Th Pl Miami, FL 33172
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    Miami, FL 33172
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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.

    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
    2020 NW 89Th Pl Miami, FL 33172
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