Two-Parcel Commercial Land
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 Market51
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
Listed By:
Madelin Estupinan LLC · License #0698693
(786) 514-8046
Source:
Relinkre
Added: Aug 24
Changed: Oct 13
Last Checked: Oct 13 at 1:09AM
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 / Yr
$921,375
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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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
