Industrial Condo with
20149 NE 16th Pl, Miami, FL 33179
For Sale
New
$550,000
A gated flex property offers climate-controlled space, an upper-level office, and grade-level loading.
Property Size1,510 SF
Price / SF$364.24
Days on Market1
Property Features for 20149 NE 16th Pl
General Information
Standard status
Size
Property subtype
Zoning
Warehouse & Industrial
Clear Height
Office Build-Out
Drive-In Doors
Additional Details
Highway Access
Property Use
Building Details
Building Size
Year Built
Listing Agency:
Berger Commercial Realty Corp - Fort Lauderdale
Listed By:
Jordan Beck · License FL SL3444296
(954) 802-6031
Source:
Bergercommercial
Added: Nov 10
Last Checked: Aug 8 at 3:09AM
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 Berger Commercial Realty Corp - Fort Lauderdale
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Investment Insights
Based on property information with market context.
This 1,510-square-foot industrial condominium includes an approximately 450-square-foot office on the second floor. The interior has 21.5-foot clear height, full air conditioning, and a 10-by-10-foot grade-level door. HVAC was recently replaced, and the property was built in 1989. IU-2 zoning applies.
The unit is within the gated Ives Dairy Commerce Center, just off I-95 at Ives Dairy Road. Aventura, Hollywood, and Fort Lauderdale-Hollywood International Airport are described as minutes away. The property also has a Bike Score of 55, Walk Score of 59, and Transit Score of 46.
The unit is within the gated Ives Dairy Commerce Center, just off I-95 at Ives Dairy Road. Aventura, Hollywood, and Fort Lauderdale-Hollywood International Airport are described as minutes away. The property also has a Bike Score of 55, Walk Score of 59, and Transit Score of 46.
Key Highlights
- 1,510 SF industrial condominium
- Approximately 450 SF of second‑story office space
- 21.5‑foot clear height and one 10' x 10' grade‑level door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,633
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,660
$492.7K
Cap Rate 7%
$351,900
$351.9K
Cap Rate 9%
$273,700
$273.7K
Market Conditions
NOI Build-Up for 1,510 SF
Gross rent
$30.4K $20.16/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$29.0K $19.19/SF
− OpEx
−$4.3K −$2.88/SF
NOI
$24.6K $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%
$492,660
Cap Rate 7%
$351,900
Cap Rate 9%
$273,700
Alternative Uses
Best Use
Warehouse
$351.9K
$307.9K – $410.6K
NOI $24,633 @ 7.0% cap · market cap 4.48%
Second Best
Flex RnD
$316.3K
$276.8K – $369.1K
NOI $22,143 @ 7.0% cap · market cap 4.03%
Theoretical Best
Specialty Retail
$1.02M
$891.9K – $1.19M
NOI $71,348 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
21 ft
Clear height
1
Drive-in doors
Yes
Highway access
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
$281,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Miami, FL
Properties on Market for Flex space in Miami
Vacancy Rate% for Industrial in Miami, FL
Similar Off Market Nearby
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- Gusto bites — 1620 NE 205th Terrace, Miami, FL 33179
- Empalicious — 1620 NE 205th Terrace, Miami, FL 33179
Frequently Asked Questions
What type of property is this?
Flex space - A gated flex property offers climate-controlled space, an upper-level office, and grade-level loading.
Where is this flex space located?
The property is located at 20149 NE 16th Pl Miami, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,510 SF industrial condominium; Approximately 450 SF of second‑story office space; 21.5‑foot clear height and one 10' x 10' grade‑level door
