Flex Space in Gated
For Sale
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20149 Northeast 16th Place, Miami, FL
1,510 SF flex space with 24' clear height.
Property Size1,510 SF
Lot Size0.95 Acres
Price / SF$364.24
Days on Market453
Property Features for 20149 Northeast 16th Place
General Information
Standard status
Active
Size
1,510 SF
Lot size
0.95 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Berger Commercial Realty Corp - Fort Lauderdale
(954) 802-6031
Listed By:
Jordan Beck · License #SL3444296
(954) 802-6031
Source:
Moodyscre
Added: May 12, 2025
Changed: Jul 6
Last Checked: Aug 7 at 1:56AM
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
Investment Insights
Based on property information with market context.
This 1,510 square foot flex space is located within a secure, gated business park. The property features a 24' clear height and is 100% HVAC. It includes a second-story office and is zoned IU-2.
Key Highlights
- 24' clear height suitable for various uses.
- 1,510 square feet of space.
- 100% HVAC for climate control.
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
$22,143
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
4.03%
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%
$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
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
$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 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%
$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.
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
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - 1,510 SF flex space with 24' clear height.
Where is this flex space located?
The property is located at 20149 Northeast 16th Place 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: 24' clear height suitable for various uses.; 1,510 square feet of space.; 100% HVAC for climate control.
