Two-Story Flex
20157 NE 16th Pl 20157, Miami, FL 33179
For Sale
New
$1,700,000
An air-conditioned office and warehouse layout sits within a gated commerce center near I-95.
Property Size7,244 SF
Price / SF$234.68
Days on Market1
Property Features for 20157 NE 16th Pl 20157
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Fenced Yard
Warehouse & Industrial
Drive-In Doors
Conditioned Warehouse
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
RISE Realty
Listed By:
Keith Darby · License FL #3085829
(305) 720-7925
Source:
Elliman
Added: Nov 10
Last Checked: Nov 10 at 2:21PM
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 RISE Realty
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Investment Insights
Based on property information with market context.
This 7,244-square-foot flex condominium spans two floors and is fully air-conditioned. The upper level contains two executive offices, additional private offices, a reception area and bullpen. On the lower level, a conference room adjoins warehouse space with a 10' x 10' grade-level door. The unit has 10 offices, six restrooms and two breakrooms. The property is zoned IU-2.
The condo is part of the gated Ives Dairy Commerce Center, just off I-95 at Ives Dairy Road. An adjoining 1,510-square-foot industrial condo is also available as part of an 8,754-square-foot combined offering.
The condo is part of the gated Ives Dairy Commerce Center, just off I-95 at Ives Dairy Road. An adjoining 1,510-square-foot industrial condo is also available as part of an 8,754-square-foot combined offering.
Key Highlights
- 7,244 SF two‑story flex condominium
- Warehouse area has one 10' x 10' grade‑level door
- 10 offices, six restrooms and two breakrooms
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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See the owner, sales and loan history
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Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
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
- 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 - An air-conditioned office and warehouse layout sits within a gated commerce center near I-95.
Where is this flex space located?
The property is located at 20157 NE 16th Pl 20157 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 SF two‑story flex condominium; Warehouse area has one 10' x 10' grade‑level door; 10 offices, six restrooms and two breakrooms
