Remodeled Corner Flex
For Sale
$650,000
1899 NW 21st St 8, Miami, FL 33142
Vacant, air-conditioned space combines an open work area with finished offices and updated bathrooms.
Property Size1,620 SF
Days on Market48
Property Features for 1899 NW 21st St 8
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Industrial
Site & Location
Neighborhood
Allapattah Industrial District
Building Details
Building Size
1,620 SF
Year Built
1981
Listing Agency:
BROKERS, LLC
Listed By:
Susana Ojeda · License #A12084798
(786) 380-9004
Source:
Elliman
Added: Sep 8
Changed: Oct 18
Last Checked: Oct 24 at 6:55PM
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 BROKERS, LLC
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Investment Insights
Based on property information with market context.
This vacant flex condominium has been recently remodeled and freshly painted. The 1,620-square-foot corner unit offers an open warehouse and work area with 15-foot ceilings, a grade-level roll-up door, full interior air conditioning, two finished offices, and two updated bathrooms. The layout supports both industrial operations and office functions within one unit.
The property is part of an eight-unit industrial condominium at 1899 NW 21st St in Miami. It is positioned near Wynwood, the Health District, Downtown Miami, and the Miami Design District, with access to I-95 and SR 836. The site is also within reach of transit and walkable amenities, with a walk score of 68, transit score of 60, and bike score of 53.
Built in 1981, the unit is vacant and ready for occupancy, subject to applicable zoning, condominium restrictions, and governmental approvals.
The property is part of an eight-unit industrial condominium at 1899 NW 21st St in Miami. It is positioned near Wynwood, the Health District, Downtown Miami, and the Miami Design District, with access to I-95 and SR 836. The site is also within reach of transit and walkable amenities, with a walk score of 68, transit score of 60, and bike score of 53.
Built in 1981, the unit is vacant and ready for occupancy, subject to applicable zoning, condominium restrictions, and governmental approvals.
Key Highlights
- 1,620 SF corner flex condominium unit
- 15‑foot ceiling height with open warehouse/work area
- Grade‑level roll‑up door and full interior air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,428
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,560
$528.6K
Cap Rate 7%
$377,543
$377.5K
Cap Rate 9%
$293,644
$293.6K
Market Conditions
NOI Build-Up for 1,620 SF
Gross rent
$32.7K $20.16/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$31.1K $19.19/SF
− OpEx
−$4.7K −$2.88/SF
NOI
$26.4K $16.31/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,560
Cap Rate 7%
$377,543
Cap Rate 9%
$293,644
Alternative Uses
Best Use
Warehouse
$377.5K
$330.4K – $440.5K
NOI $26,428 @ 7.0% cap · market cap 4.07%
Second Best
Flex RnD
$339.4K
$297.0K – $395.9K
NOI $23,756 @ 7.0% cap · market cap 3.65%
Theoretical Best
Specialty Retail
$1.09M
$956.8K – $1.28M
NOI $76,546 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,886
Businesses Nearby
Balanced
Demand for This Use
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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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Market
Vacancy Rate% for Industrial in Miami, FL
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Frequently Asked Questions
What type of property is this?
Flex space - Vacant, air-conditioned space combines an open work area with finished offices and updated bathrooms.
Where is this flex space located?
The property is located at 1899 NW 21st St 8 Miami, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,620 SF corner flex condominium unit; 15‑foot ceiling height with open warehouse/work area; Grade‑level roll‑up door and full interior air conditioning
