Two-Parcel Commercial Land
New
For Sale
$17,990,000
1797 NW 20th St, Miami, FL 33142
Urban-core zoning supports evaluation of multifamily, mixed-use, and workforce housing concepts, subject to applicable approvals.
Property Size39,000 SF
Days on Market6
Property Features for 1797 NW 20th St
General Information
Standard status
Active
Size
39,000 SF
Property subtype
Income/MultiFamily
Building Details
Building Size
39,000 SF
Year Built
1980
Listing Agency:
Miami New Realty
(786) 514-8046
Listed By:
Madelin Estupinan LLC · License #0698693
Source:
Relinkre
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 26 at 10:11AM
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 Miami New Realty
Investment Insights
Based on property information with market context.
This two-parcel commercial land assemblage contains more than 39,000 SF at 1797 NW 20th St in Miami. The property is identified with T6-8-O Urban Core zoning, providing a basis for evaluating multifamily, mixed-use, and workforce or affordable housing concepts. Any development program, including density, height, FAR/FLR, unit count, parking, and affordability requirements, remains subject to governmental review and independent verification.
The site is positioned in Miami’s Allapattah and Health District corridor, less than one mile from Anatomia, a planned 30-story, 499-unit Live Local development. Jackson Memorial, UHealth, the University of Miami Miller School of Medicine, Santa Clara Metrorail, Wynwood, Downtown Miami, and Miami International Airport are identified as accessible from the property. Land area, dimensions, and frontage remain approximate pending an updated survey.
The site is positioned in Miami’s Allapattah and Health District corridor, less than one mile from Anatomia, a planned 30-story, 499-unit Live Local development. Jackson Memorial, UHealth, the University of Miami Miller School of Medicine, Santa Clara Metrorail, Wynwood, Downtown Miami, and Miami International Airport are identified as accessible from the property. Land area, dimensions, and frontage remain approximate pending an updated survey.
Key Highlights
- 39,000+ SF two‑parcel commercial land assemblage
- T6‑8‑O Urban Core zoning
- 1797 NW 20th St, Miami, FL 33142
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$921,375
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$18,427,500
$18.4M
Cap Rate 7%
$13,162,500
$13.2M
Cap Rate 9%
$10,237,500
$10.2M
Market Conditions
NOI Build-Up for 39,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.64M $42.00/SF
− Vacancy
−$163.8K −$4.20/SF
EGI
$1.47M $37.80/SF
− OpEx
−$552.8K −$14.18/SF
NOI
$921.4K $23.63/SF
Area
Miami, FL
Vacancy
10.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$18,427,500
Cap Rate 7%
$13,162,500
Cap Rate 9%
$10,237,500
Alternative Uses
Best Use
Mixed Use
$13.16M
$11.52M – $15.36M
NOI $921,375 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$10.29M
$9.01M – $12.01M
NOI $720,463 @ 7.0% cap · market cap 4.00%
Theoretical Best
Specialty Retail
$26.33M
$23.03M – $30.71M
NOI $1,842,768 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,997
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Urban-core zoning supports evaluation of multifamily, mixed-use, and workforce housing concepts, subject to applicable approvals.
Where is this commercial land located?
The property is located at 1797 NW 20th St Miami, FL.
What is the asking price?
The asking price for this property is $17,990,000.
What are key features of this property?
This property features: 39,000+ SF two‑parcel commercial land assemblage; T6‑8‑O Urban Core zoning; 1797 NW 20th St, Miami, FL 33142
