Upgraded Warehouse and Office
For Sale
Contact for pricing
20129 NE 16th Pl, Miami, FL 33179
Warehouse and office space available for purchase.
Property Size2,000 SF
Price / SF$335
Days on Market433
Property Features for 20129 NE 16th Pl
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Mixed Use
Zoning
7300
Building Details
Year Built
1989
Listing Agency:
Marlin Realty Inc
(786) 897-7482
Listed By:
David Gutierrez · License #3170483
Source:
Crexi
Added: Jun 14, 2025
Changed: Aug 8
Last Checked: Jul 21 at 10:16AM
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 Marlin Realty Inc
Investment Insights
Based on property information with market context.
This property features upgraded warehouse and office space. The property offers potential for various commercial uses. The property size is 2000 square feet.
Key Highlights
- Upgraded warehouse and office space, ready for your business needs.
- Owner financing available, making ownership easier.
- Built in 1989.
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
$57,375
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
8.56%
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%
$1,147,500
$1.1M
Cap Rate 7%
$819,643
$819.6K
Cap Rate 9%
$637,500
$637.5K
Market Conditions
NOI Build-Up for 2,000 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
$90.0K $45.00/SF
− Vacancy
−$13.5K −$6.75/SF
EGI
$76.5K $38.25/SF
− OpEx
−$19.1K −$9.56/SF
NOI
$57.4K $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 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%
$1,147,500
Cap Rate 7%
$819,643
Cap Rate 9%
$637,500
Alternative Uses
Best Use
Office B
$819.6K
$717.2K – $956.3K
NOI $57,375 @ 7.0% cap · market cap 8.56%
Second Best
Warehouse
$466.1K
$407.8K – $543.8K
NOI $32,627 @ 7.0% cap · market cap 4.87%
Theoretical Best
Specialty Retail
$1.35M
$1.18M – $1.58M
NOI $94,501 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33179, FL
48,088
Population
21,249
Households
2.3
Avg Household Size
41
Median Age
33%
College-Educated
91%
High-School Grad
5.0 sq mi
ZIP Area
9,618
Density / Sq Mi
$61,526
Median Household Income
$37,555
Median Earnings
$1,736
Median Rent
$281,400
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse and office space available for purchase.
Where is this warehouse located?
The property is located at 20129 NE 16th Pl Miami, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Upgraded warehouse and office space, ready for your business needs.; Owner financing available, making ownership easier.; Built in 1989.
