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    The Largest CRE Database in the US with Over 1 Million Listings

    20450 2Nd Ave Miami, FL 33169

    Sponsored
    For Lease
    $0.04 SF/Yr

    Prime Corner Unit, 17,185 SF

    Lot size:
    17,185 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    423
    This exceptional 17,185 square foot restaurant space is located at 20450 NW 2nd Ave #20466 in Miami Gardens, Florida, zip code 33169. Situated on US 441, this single-tenant property boasts a highly visible corner location, ensuring maximum exposure to the significant vehicular traffic flow. The property is zoned 6500 and features a grease trap, making it ideally suited for continued restaurant operations or similar food service businesses. The building itself comprises a single suite, offering a spacious and functional layout for a variety of uses. The property's APN is 34-11-36-002-0101. This prime location in Miami Gardens offers unparalleled access and visibility, providing an excellent opportunity for businesses to thrive in a vibrant and densely populated area. The strategic positioning capitalizes on the strong purchasing power of the surrounding demographics, making it an attractive investment for those seeking a high-traffic, high-visibility location. This is a rare opportunity to acquire a substantial commercial space in a desirable area. The property is ready for immediate occupancy.

    Property Features for 20450 2Nd Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    17,185 SF

    Spaces For Lease

    at 20450 2Nd Ave, Miami, FL 33169 Contact us
    Unit 20466

    $0.04 /Mo

    Size
    17,185 SF
    Contact us

    We can help!

    Listing Contact
    Jaime Esquenazi
    Jaime Esquenazi

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    101.5 LITE FM ... Radio Station Sushi Private Catering Take-out & Catering DJ Stache Nightclub Sips and Sammies Take-out & Catering Jessica Coulson Photography Photography Service

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2062483
    Latitude
    25.9638518

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    FAQs

    What type of property is this?
    Restaurant - Prime Corner Unit, 17,185 SF
    Where is this restaurant located?
    The property is located at 20450 2Nd Ave Miami, FL.
    What is the lease rate?
    The lease rate is $0.04 SF/Yr.
    (305) 796-6743
    Request Owner's contact information
    20450 2Nd Ave Miami, FL 33169
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    Miami, FL 33169
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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
    20450 2Nd Ave Miami, FL 33169
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    We can help!
    Listing Contact
    Jaime Esquenazi
    Jaime Esquenazi
    Real Estate License ID: 3212780
    (305) 796-6743
    Learn more
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