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Flex-Office Condo for Sale

20157 NE 16th Pl Miami, FL 33179

20157 NE 16th Pl, Miami, FL, 33179
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7,244 SF flex-office condo available near I-95.

Property Size7,244 SF
Price / SF$303.70
AddedOct 1, 2024
Days on Market654
Last RefreshJul 16 at 5:16 am

Property Features for 20157 NE 16th Pl

General Information

Standard status
Active
Size
7,244 SF
Property subtype
Office

Building Details

Year Built
1989

Listing office Berger Commercial Realty

Listing date Oct 1, 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 Berger Commercial Realty


Investment Insights

Based on property information with market context.

This 7,244 square foot flex-office condo is available for sale. The property features one 10' x 10' grade-level loading door and is fully air conditioned. The two-story hybrid layout includes first-floor loading and storage space, with second-floor offices, a conference room, a reception area, and a bullpen area. The property is located within Ives Dairy Commerce Center at I-95 and Ives Dairy Road, offering convenient access to Aventura, Sunny Isles, Hollywood, and FLL International Airport. The unit can be purchased individually or together with the adjacent unit #20149, which is a 1,510 SF industrial condo, for a combined total of 8,754 square feet.

Key Highlights

  • 7,244 SF flex‑office condo, potentially expandable to 8,754 SF with adjacent unit
  • Located within Ives Dairy Commerce Center at I‑95 & Ives Dairy Road
  • Minutes to Aventura, Sunny Isles, Hollywood, FLL International Airport

Local Financial Insights For Warehouse

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $146.0k $20.16
− Vacancy −$7.0k −$0.97
EGI $139.0k $19.19
− OpEx −$20.9k −$2.88
NOI $118.2k $16.31
7,244 SF · lease $20.16/SF/yr · vacancy 4.80% · expense 15.00%

Alternative Uses

Best Use
Office B
$2.97M
$2.60M – $3.46M (±1% cap)
NOI $207,812 @ 7.0% cap · market cap 9.45%
Second Best
Warehouse
$1.69M
$1.48M – $1.97M (±1% cap)
NOI $118,175 @ 7.0% cap · market cap 5.37%
Theoretical Best
Specialty Retail
$4.89M
$4.28M – $5.70M (±1% cap)
NOI $342,282 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Palm Optical Ophthalmologist

Suggested Use

Restaurant Real Estate Agency Dental Office Building Supply Spa & Massage Center Auto Parts Store Auto Repair Shop Hair Salon Nail Salon Pharmacy

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

Similar Off Market Nearby

  • Gusto bites — 1620 NE 205th Terrace, Miami, FL 33179
  • Rinat's Catering — 2385 NE 199th St, Miami, FL 33180
  • Molly's Gourmet Meals — 19593 NE 10th Ave, Miami, FL 33179
  • Gavriel Event Catering — IVES I-95 Business Center, North Miami Beach, FL 33179
  • Empalicious — 1620 NE 205th Terrace, Miami, FL 33179

FAQs

What type of property is this?
Flex space - 7,244 SF flex-office condo available near I-95.
Where is this flex space located?
The property is located at 20157 NE 16th Pl Miami, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 7,244 SF flex‑office condo, potentially expandable to 8,754 SF with adjacent unit; Located within Ives Dairy Commerce Center at I‑95 & Ives Dairy Road; Minutes to Aventura, Sunny Isles, Hollywood, FLL International Airport
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