Two-Story Flex
20157 NE 16th Pl, Miami, FL 33179
For Sale
New
$1,700,000
Commercial Sale, Miami, FL
Property Size7,244 SF
Lot Size0.17 Acres
Price / SF$234.68
Days on Market1
Property Features for 20157 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
Amenities
gated
conference room
breakroom
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 7:06PM
MLS# A12120375
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.
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Investment Insights
Based on property information with market context.
This 7,244-square-foot flex office condominium spans two floors and is fully air-conditioned. Its office program includes 10 offices, a reception area, bullpen, and conference room, along with six restrooms and two breakrooms. The warehouse area has a 10' x 10' grade-level door. The property was built in 1989 and is zoned IU-2.
The unit is within the gated Ives Dairy Commerce Center, just off I-95 near Ives Dairy Road. The location is minutes from Aventura, Hollywood, and Fort Lauderdale-Hollywood International Airport.
The unit is within the gated Ives Dairy Commerce Center, just off I-95 near Ives Dairy Road. The location is minutes from Aventura, Hollywood, and Fort Lauderdale-Hollywood International Airport.
Key Highlights
- 7,244‑square‑foot, two‑story flex office condominium
- 10 offices, reception area, bullpen, and conference room
- Warehouse area with one 10' x 10' grade‑level door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,175
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,363,500
$2.4M
Cap Rate 7%
$1,688,214
$1.7M
Cap Rate 9%
$1,313,056
$1.3M
Market Conditions
NOI Build-Up for 7,244 SF
Gross rent
$146.0K $20.16/SF
− Vacancy
−$7.0K −$0.97/SF
EGI
$139.0K $19.19/SF
− OpEx
−$20.9K −$2.88/SF
NOI
$118.2K $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%
$2,363,500
Cap Rate 7%
$1,688,214
Cap Rate 9%
$1,313,056
Alternative Uses
Best Use
Warehouse
$1.69M
$1.48M – $1.97M
NOI $118,175 @ 7.0% cap · market cap 6.95%
Second Best
Flex RnD
$1.52M
$1.33M – $1.77M
NOI $106,226 @ 7.0% cap · market cap 6.25%
Theoretical Best
Specialty Retail
$4.89M
$4.28M – $5.70M
NOI $342,282 @ 7.0% cap · market cap 20.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Balanced
Demand for This Use
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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
$281,400
Median Home Value
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Market
Average Price Trend$/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 fully air-conditioned property combines office areas with a grade-level warehouse component.
Where is this flex space located?
The property is located at 20157 NE 16th Pl Miami, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 7,244‑square‑foot, two‑story flex office condominium; 10 offices, reception area, bullpen, and conference room; Warehouse area with one 10' x 10' grade‑level door
