Industrial Flex Condo with Grade
20149 NE 16th Pl, Miami, FL 33179
For Sale
New
$550,000
Commercial Sale, Miami, FL
Property Size1,510 SF
Lot Size0.03 Acres
Price / SF$364.24
Days on Market1
Property Features for 20149 NE 16th Pl
General Information
Property type
Property subtype
Zoning description
Security features
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
HOA Fee
Legal Description
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Rise Realty
(305) 859-1606
Listed By:
Keith Darby · License FL #3085829
(305) 720-7925
Added: Nov 9
Last Checked: Nov 9 at 2:06PM
MLS# A12120366
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,510-square-foot industrial condominium includes approximately 450 square feet of second-story office space. The unit has 21.5-foot clear height, full air conditioning with recently replaced HVAC, and a 10-foot by 10-foot grade-level door. It was built in 1989 and carries IU-2 zoning.
The property is within the gated Ives Dairy Commerce Center, near I-95 and Ives Dairy Road.
The property is within the gated Ives Dairy Commerce Center, near I-95 and Ives Dairy Road.
Key Highlights
- 1,510‑square‑foot industrial condominium
- Approximately 450 square feet of second‑story office space
- 21.5‑foot clear height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,143
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$442,860
$442.9K
Cap Rate 7%
$316,329
$316.3K
Cap Rate 9%
$246,033
$246.0K
Market Conditions
NOI Build-Up for 1,510 SF
Gross rent
$36.2K $24.00/SF
− Vacancy
−$2.2K −$1.44/SF
EGI
$34.1K $22.56/SF
− OpEx
−$11.9K −$7.90/SF
NOI
$22.1K $14.66/SF
Area
Miami, FL
Vacancy
6.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$442,860
Cap Rate 7%
$316,329
Cap Rate 9%
$246,033
Alternative Uses
Best Use
Flex RnD
$316.3K
$276.8K – $369.1K
NOI $22,143 @ 7.0% cap · market cap 4.03%
Second Best
Industrial
$289.8K
$253.6K – $338.1K
NOI $20,286 @ 7.0% cap · market cap 3.69%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
$281,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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
- Molly's Gourmet Meals — 19593 NE 10th Ave, Miami, FL 33179
- Rinat's Catering — 2385 NE 199th St, Miami, FL 33180
- Gavriel Event Catering — IVES I-95 Business Center, North Miami Beach, FL 33179
- 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 second-story office area sits within the unit’s fully air-conditioned space.
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‑square‑foot industrial condominium; Approximately 450 square feet of second‑story office space; 21.5‑foot clear height
