Office Unit with Enclosed
For Sale
$615,000
903-20200 W Dixie Hwy, Miami, FL 33146
Class A setting opposite Aventura Mall with convenient access to I-95.
Property Size1,007 SF
Price / SF$610.72
Days on Market216
Property Features for 903-20200 W Dixie Hwy
General Information
Standard status
Active
Size
1,007 SF
Class
Class A
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,488
Listing Agency:
One Sotheby's International Realty
(786) 255-5222
Listed By:
Richard Toledano · License #A12056458
(786) 255-5222
Source:
Exprealty
Added: Jan 28
Changed: Aug 31
Last Checked: Aug 30 at 8:34PM
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 One Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 1,007 SF office unit is configured with three enclosed sub-offices, each fitted with glass window doors that provide separation while allowing natural light. Tile flooring extends throughout the space, and the unit has north-facing views.
The office is located in a Class A building at 903-20200 W Dixie Hwy in Miami, directly across from Aventura Mall. Convenient access to I-95 supports connectivity to the surrounding area.
The office is located in a Class A building at 903-20200 W Dixie Hwy in Miami, directly across from Aventura Mall. Convenient access to I-95 supports connectivity to the surrounding area.
Key Highlights
- 1, 007 SF office unit with three enclosed sub‑offices
- Glass window doors on each sub‑office provide privacy and natural light
- North‑facing views and tile flooring throughout
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
$28,888
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
4.70%
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%
$577,760
$577.8K
Cap Rate 7%
$412,686
$412.7K
Cap Rate 9%
$320,978
$321.0K
Market Conditions
NOI Build-Up for 1,007 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
$45.3K $45.00/SF
− Vacancy
−$6.8K −$6.75/SF
EGI
$38.5K $38.25/SF
− OpEx
−$9.6K −$9.56/SF
NOI
$28.9K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
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%
$577,760
Cap Rate 7%
$412,686
Cap Rate 9%
$320,978
Alternative Uses
Best Use
Office B
$412.7K
$361.1K – $481.5K
NOI $28,888 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$679.7K
$594.8K – $793.0K
NOI $47,581 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,030
Businesses Nearby
Explore this area
Business Placement
Demographics for 33146, FL
16,468
Population
6,788
Households
2.4
Avg Household Size
29
Median Age
75%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
5,312
Density / Sq Mi
$124,712
Median Household Income
$41,105
Median Earnings
$2,774
Median Rent
$1,141,800
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Class A setting opposite Aventura Mall with convenient access to I-95.
Where is this office units located?
The property is located at 903-20200 W Dixie Hwy Miami, FL.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 1, 007 SF office unit with three enclosed sub‑offices; Glass window doors on each sub‑office provide privacy and natural light; North‑facing views and tile flooring throughout
