Creative Studio with Building
164 NW 20th St # 209, Miami, FL 33127
For Sale
Contact for pricing
A flexible loft-style workspace pairs natural light with a private bathroom and kitchenette.
Property Size18,614 SF
Price / SF$0.11
Days on Market287
Property Features for 164 NW 20th St # 209
General Information
Standard status
Size
Total Parking Spaces
Elevators
Property subtype
Site & Location
Neighborhood
Additional Details
Floor
Property Use
Building Details
Building Size
Year Built
Listing Agency:
MDS Real Estate Services, LLC
Listed By:
Marcelo daSilva · License FL #3153208
(954) 907-3192
Source:
Astonrosese
Added: Feb 1
Changed: Nov 7
Last Checked: Nov 13 at 5:26PM
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 MDS Real Estate Services, LLC
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Investment Insights
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This 695 SF second-floor creative studio has an open loft-style layout, natural light, a full bathroom, and a kitchenette. Access is by stairs, with no elevator, and the space includes one dedicated parking spot.
A 600 m2 mural by artist Zepha1 appears on the building. The property is in Wynwood, Miami, and was built in 1924.
A 600 m2 mural by artist Zepha1 appears on the building. The property is in Wynwood, Miami, and was built in 1924.
Key Highlights
- 695 SF open loft‑style studio with natural light
- Full bathroom and kitchenette
- One dedicated parking space; second‑floor access is by stairs, with no elevator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$533,989
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,679,780
$10.7M
Cap Rate 7%
$7,628,414
$7.6M
Cap Rate 9%
$5,933,211
$5.9M
Market Conditions
NOI Build-Up for 18,614 SF
Gross rent
$837.6K $45.00/SF
− Vacancy
−$125.6K −$6.75/SF
EGI
$712.0K $38.25/SF
− OpEx
−$178.0K −$9.56/SF
NOI
$534.0K $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 Rate 5%
$10,679,780
Cap Rate 7%
$7,628,414
Cap Rate 9%
$5,933,211
Alternative Uses
Best Use
Office B
$7.63M
$6.67M – $8.90M
NOI $533,989 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$12.56M
$10.99M – $14.66M
NOI $879,520 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,245
Businesses Nearby
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Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
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Market
Average Price Trend$/SF for Creative space in Miami, FL
Properties on Market for Creative space in Miami
Vacancy Rate% for Office in Miami, FL
Frequently Asked Questions
What type of property is this?
Creative space - A flexible loft-style workspace pairs natural light with a private bathroom and kitchenette.
Where is this creative space located?
The property is located at 164 NW 20th St # 209 Miami, FL.
What are key features of this property?
This property features: 695 SF open loft‑style studio with natural light; Full bathroom and kitchenette; One dedicated parking space; second‑floor access is by stairs, with no elevator
