Wynwood Assemblage with Redevelopment
For Sale
Contact for pricing
2010-2014-2020 NW Miami Court, Miami, FL 33127
Three-parcel assemblage near Wynwood's Art & Entertainment District.
Property Size26,374 SF
Price / SF$591.49
Days on Market2555
Property Features for 2010-2014-2020 NW Miami Court
General Information
Standard status
Active
Size
26,374 SF
Class
B
Property subtype
Mixed Use, Retail
Zoning
Miami 21 T5-O
Occupancy
100%
Lease Type
NNN
Investment Type
Redevelopment
Building Details
Year Built
1938
Buildings
3
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
The Corcoran Group Miami Beach
Listed By:
Frank Euler · License #3262818
(786) 252-7308
Source:
Crexi
Added: Oct 23, 2019
Changed: Oct 8
Last Checked: Oct 19 at 3:46AM
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 The Corcoran Group Miami Beach
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This portfolio features a 19,650 square foot three-parcel assemblage, offering approximately 26,274 square feet of leasable space. It is situated by the southeastern gateway to Wynwood’s Art & Entertainment District. The property benefits from existing cash flow generated from leases at below-market value, presenting an opportunity to increase revenues. The location is near several new projects, including CIM Group’s Wynwood Square, which will offer approximately 87,000 square feet of office and retail space, along with 257 apartments, and Quadrum Global’s Arlo Hotel. Current tenants are in place.
Key Highlights
- Located at the south‑eastern gateway into Wynwood’s Art & Entertainment District
- 19,650 SF three‑parcel assemblage with approximately 26,274 SF leasable space
- Existing cash flow from leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$860,470
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,209,400
$17.2M
Cap Rate 7%
$12,292,429
$12.3M
Cap Rate 9%
$9,560,778
$9.6M
Market Conditions
NOI Build-Up for 26,374 SF
Gross rent
$1.37M $51.96/SF
− Vacancy
−$141.2K −$5.35/SF
EGI
$1.23M $46.61/SF
− OpEx
−$368.8K −$13.98/SF
NOI
$860.5K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,209,400
Cap Rate 7%
$12,292,429
Cap Rate 9%
$9,560,778
Alternative Uses
Best Use
Retail
$12.29M
$10.76M – $14.34M
NOI $860,470 @ 7.0% cap · market cap 5.52%
Second Best
Office B
$10.81M
$9.46M – $12.61M
NOI $756,604 @ 7.0% cap · market cap 4.85%
Theoretical Best
Specialty Retail
$17.80M
$15.58M – $20.77M
NOI $1,246,183 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,527
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-parcel assemblage near Wynwood's Art & Entertainment District.
Where is this mixed-use property located?
The property is located at 2010-2014-2020 NW Miami Court Miami, FL.
What is the asking price?
The asking price for this property is $15,600,000.
What are key features of this property?
This property features: Located at the south‑eastern gateway into Wynwood’s Art & Entertainment District; 19,650 SF three‑parcel assemblage with approximately 26,274 SF leasable space; Existing cash flow from leases
