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    60 20Th St Miami, FL 33127

    For Sale
    $5,990,000

    Prime Wynwood lot, high income potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 15,000 square foot lot, located at 60 NW 20th St in Miami, Florida, presents a remarkable development opportunity in the vibrant Wynwood Arts District and Omni area. Boasting a 125-foot frontage and a corner location within the Wynwood Neighborhood Revitalization Area (NRA), this property offers significant potential for various projects. The existing structures comprise a 5,200 square foot warehouse currently generating a monthly income of $3,000 through a month-to-month lease with a mechanic shop and additional owner-occupied warehouse space. The property is being offered at $5,990,000. The seller is open to negotiating the tenant's continued occupancy, allowing for income generation during the planning and development phases, or delivery of the property vacant. Built in 1959, this property is zoned T6-8 (per attached survey). Serious inquiries only

    Property Features for 60 20Th St

    General Information

    Property type
    Specialty properties

    Building Details

    Year Built
    1959
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Embassy Homeowners Insurance Auto Insurance Agency Osborne Firm Trial Attorney Synchronic Transmission Expert Auto Repair Shop Miami Clutch & Transmission Transmission Shop Miami Auto Love Transmission Shop

    Suggested Use

    Law Firm Realty agency Dental Office Spa & Massage Restaurant Hair Salon Nail Salon Building Supply Pharmacy Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1960062
    Latitude
    25.7951854

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    FAQs

    What type of property is this?
    Specialty property - Prime Wynwood lot, high income potential.
    Where is this specialty property located?
    The property is located at 60 20Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $5,990,000.
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    60 20Th St Miami, FL 33127
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    Miami, FL 33127
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    Realmo Value Estimation

    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.

    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.

    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
    60 20Th St Miami, FL 33127
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