Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Remodeled Warehouse in Garment District Title is generated by Realmo AI

    2047 NW 24th Ave, Miami, FL 33142

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Freestanding, remodeled warehouse suitable for warehouse/retail/office use.

    Type:Industrial, Retail, Office
    Property size:
    5,000 SF
    Added:
    Feb 15, 2024
    Days on Market:
    816
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 2047 NW 24th Ave

    General Information

    Standard status
    Active
    Size
    5,000 SF
    Property subtype
    Industrial, Retail, Office

    Spaces For Lease

    at 2047 NW 24th Ave Contact us

    $2 /Mo

    Size
    5,000 SF
    Type
    Industrial, Retail, Office
    Contact us

    We can help!

    Listing Contact
    Miguel Solis
    Miguel Solis

    Listing agent Miguel Solis License #0624178

    Listing office Douglas Elliman Real Estate

    Listing date Feb 15, 2024

    Source Crexi

    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 Douglas Elliman Real Estate

    HighLights

    • Completely remodeled, freestanding warehouse suitable for warehouse/retail/office use.
    • Prime location in the Garment District near the Miami River, with proximity to MIA, Port of MIA, Wynwood, and Brickell.
    • Features 6 private offices with glass enclosures, a full kitchen, and an employee lounge.
    • Includes 12 parking spaces plus ample street parking.
    • Equipped with impact windows/doors, advanced security with cameras, and full A/C coverage.
    • High ceilings (18+ ft) and a white screen area for content creation.

    Overview

    This completely remodeled, freestanding 5000-square-foot warehouse is located in the Garment District near the Miami River. The space is suitable for warehouse, retail, or office use. It features a reception area that opens to six private offices with glass enclosures. The property includes a full kitchen and two large ADA-compliant bathrooms. The building has a new roof and full A/C coverage. Approximately 800 square feet is dedicated to office space, while the warehouse space comprises about 4200 square feet. The property is equipped with impact windows and doors, as well as an advanced security system with cameras. It features an 18+ foot ceiling height and a white screen area for content creation. Additional amenities include an employee lounge and 12 parking spaces, with ample street parking available. Its proximity to Miami International Airport (MIA), the Port of Miami, Wynwood, and Brickell enhances its investment appeal.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Zen Group Big Box & Wholesale Store Creative Propulsion Studios Advertising Agency TaguaGunleather Sports Never Fail Gear Industrial Manufacturer

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • New Harvest Catering Co — Miami, FL 33125
    • Aaf-Ttf Catering — Miami, FL 33125
    • Nathalie's Catering — 1851 Delaware Pkwy, Miami, FL 33125
    • Santos Sabores — 1569 NW 17th Ave, Miami, FL 33125
    • Benita Ramos — 1720 NW N River Dr, Miami, FL 33125

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.235382
    Latitude
    25.795198

    Nearby Similar for Lease

    • $1,995/Mo

      Remodeled Office Unit with Balconies

      Remodeled two-story office unit with balconies, ready for move-in.
      5455 SW 8 ST, Miami, FL 33134
      View Details
    • $1,395/Mo

      Move-in Ready Miami Office Space

      Remodeled office space in prime Miami location, ready for occupancy.
      5455 SW 8 ST, Miami, FL 33134
      View Details
    • $3,300/Mo

      Miami Flex Space For Rent

      Office-warehouse combination near major expressways and Miami International Airport.
      2355 NW 70th Ave, Miami, FL 33122
      View Details
    • $2,985/Mo

      Miami Warehouse/Office Space For Rent

      Move-in ready warehouse/office space in Coral Reef area.
      11965 SW 142nd Ter, Miami, FL 33186
      View Details
    • $5,900/Mo

      Miami Industrial/Commercial Space For Lease

      Versatile 3,532 SF space ideal for manufacturing or auto-related businesses.
      7034 NW 50th St, Miami, FL 33166
      View Details
    • $8,000/Mo

      Versatile Commercial Space in Miami

      Adaptable space for manufacturing, storage, distribution, or office use.
      7025 NW 7th Ave, Miami, FL 33150
      View Details
    • $3,000/Mo

      Renovated Retail Space on Bird Road

      Move-in ready retail space in a vibrant Miami location.
      8235 SW 40th St, Miami, FL 33155
      View Details
    • $3,050/Mo

      Warehouse/Flex Unit in Miami

      Versatile warehouse/flex industrial unit in Miami's Airport West corridor.
      7311 NW 12th St, Miami, FL 33126
      View Details
    • $6,500/Mo

      High-Visibility Corner Retail Space

      Equipped retail space in high-demand Miami neighborhood.
      1186 NW 103rd St, Miami, FL 33150
      View Details
    • $8,429/Mo

      Miami Industrial Warehouse with Offices

      Spacious warehouse with office space in Miami's industrial hub.
      5220 NW 72nd Ave, Miami, FL 33166
      View Details
    • $1,400/Mo

      Renovated Office Space in Miami

      Renovated office space in Miami's waterfront district available for lease.
      825 BRICKELL BAY DR, Miami, FL 33131
      View Details
    • $2,700/Mo

      Renovated Office Space in Miami

      Renovated office space in Miami's waterfront Four Ambassadors building.
      825 BRICKELL BAY DR, Miami, FL 33131
      View Details

    FAQs

    What type of property is this?
    Flex space - Freestanding, remodeled warehouse suitable for warehouse/retail/office use.
    Where is this flex space located?
    The property is located at 2047 NW 24th Ave Miami, FL.
    What is the lease rate?
    The lease rate is $31 SF/Yr.
    What are key features of this property?
    This property features: Completely remodeled, freestanding warehouse suitable for warehouse/retail/office use.; Prime location in the Garment District near the Miami River, with proximity to MIA, Port of MIA, Wynwood, and Brickell.; Features **6 private offices with glass enclosures, a full kitchen, and an employee lounge.**
    (305) 695-6300 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Miguel Solis
    Miguel Solis
    Real Estate License ID: 0624178
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2047 NW 24th Ave, Miami, FL 33142
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!