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    804 21St Ter Miami, FL 33127

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    For Lease
    Contact for pricing

    Renovated Office Building, 14,520 sq ft

    Lot size:
    14,520 SF

    Property Features for 804 21St Ter

    General Information

    Property type
    Specialty properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    14,520 SF

    Building Details

    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 804 21St Ter, Miami, FL 33127 Contact us
    Unit

    $0.03 /Mo

    Size
    14,520 SF
    Contact us

    We can help!

    Listing Contact
    Diamela Burguera
    Diamela Burguera

    Listing Agency: Central Commercial Real Estate Listing Agent: Diamela Burguera

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    The Allapattah Building presents a unique investment opportunity in a rapidly developing area. This fully renovated, two-story building comprises approximately 14,520 square feet and features a single tenancy. The building is zoned 7700 and boasts a total of thirty individual office suites, each equipped with a private kitchenette and full bathroom. Suite sizes range from 274 to 457 square feet, offering flexibility for various business needs. Shared amenities include a convenient conference room, multiple inviting common area lounges, and several tranquil courtyards. The property's strategic location in Eastern Allapattah provides unparalleled access to both the vibrant Wynwood Arts District and the Jackson/UM Medical District, both within a five-minute commute. With no on-site parking, the property is ideal for businesses prioritizing alternative transportation options or those whose employees primarily utilize public transit or ride-sharing services. The property's APN is 01-31-26-013-0290. This exceptional offering presents a rare chance to acquire a fully renovated, modern office building in a high-growth neighborhood. The building's unique design and convenient location make it an attractive proposition for a variety of businesses seeking a well-appointed and strategically located workspace.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vision Network Wiring ... Telecommunications Service Dog Club Animal Training Stubins Group Real Estate Agency RedRiver Jackson Partners Loan Service Perspective Counseling Crisis Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2093794
    Latitude
    25.7967598

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    FAQs

    What type of property is this?
    Specialty property - Renovated Office Building, 14,520 sq ft
    Where is this specialty property located?
    The property is located at 804 21St Ter Miami, FL.
    What is the lease rate?
    The lease rate is $0.03 SF/Yr.
    What are key features of this property?
    This property features: Office and special purpose property, single-tenant occupancy.; Two-story building with 14,520 square feet of space.; Thirty private offices ranging from 274 to 457 square feet.
    (786) 218-5723 Call to check price and availability
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    804 21St Ter Miami, FL 33127
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    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
    804 21St Ter Miami, FL 33127
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    Contact for Pricing
    Please call us for current price
    and status of this listing Diamela Burguera
    Diamela Burguera
    Real Estate License ID: #3264063
    (786) 218-5723 (786) 577-4974
    Learn more
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