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    20157 NE 16Th Pl Miami, FL 33179

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    20157 NE 16Th Pl Miami, FL 33179

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    • Manufacturing properties
    • 7,244 SF
    For Sale
    $2,200,000
    View Listing →
    Flex-Office Condo for Sale For Sale
    $2,200,000
    7,244 SF

    Flex-Office Condo for Sale

    7,244 SF flex-office condo available near I-95.

    20157 NE 16th Pl, Miami, FL 33179
    View Listing
    Property ID
    US18-4655419
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Palm Optical / Ophthalmologist / (Bike/Boat/Book/etc) Store

    Property Details for 20157 NE 16Th Pl

    Year built
    1989
    Property size
    7,244 SF
    Zone code
    7300:INDUSTRIAL,HVY MFG
    Property type
    Manufacturing properties
    APN
    30-1232-026-0140
    APU
    3012320260140

    Description

    This exceptional 7,244 square foot Class B industrial/office condo is available for purchase at $2,400,000. Located in the Ives Dairy Commerce Center at 20157 NE 16th Pl, Miami, FL 33179 (APN 30-1232-026-0140), this two-story property boasts a desirable flex/warehouse subtype and IU-2 zoning. Built in 1989, the building features one drive-in door and is fully air-conditioned. The interior layout includes two executive offices, seven private offices, and four restrooms (two per floor), along with two kitchenettes (one per floor). Currently vacant, this property presents a unique opportunity for immediate occupancy and customization. The spacious layout is ideal for a variety of businesses seeking a blend of office and warehouse space. This offering provides a strong investment opportunity in a thriving Miami location. While offered individually, it's worth noting that an adjacent 1,510 square foot condo is also available for purchase. This presents a potential for expansion or a combined investment strategy. The property's strategic location in Miami-Dade County offers excellent access to major transportation routes and a robust business community. Serious inquiries are encouraged to explore this compelling investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,095,000
      Market price range: $1.32M - $2.75M
      AI Estimate
      $1,972,000
      Market price range: $211k - $3.11M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,940,000
      Current use
      MEDICAL BUILDING
      $3,180,000
      Change: +64% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,155,000
      Change: +11% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.1683
    Latitude
    25.9624
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $18,709
    $0.00
    $0.00
    $1,376,360
    -
    $0.00
    $0.00
    $1,376,360

    Comparable in this City

    • Value Estimation
      $505,000
      1,804 SF

      20109 16th Pl

      MANUFACTURING (LIGHT) • 1,804 SF
      20109 16th Pl, Miami, FL 33179-2720
      View Details
    • Value Estimation
      $515,000
      1,832 SF

      20101 16th Pl

      MANUFACTURING (LIGHT) • 1,832 SF
      20101 16th Pl, Miami, FL 33179-2720
      View Details
    • Value Estimation
      $600,000
      2,143 SF

      20191 16th Pl

      MANUFACTURING (LIGHT) • 2,143 SF
      20191 16th Pl, Miami, FL 33179-2721
      View Details
    • Value Estimation
      $650,000
      1,510 SF

      20145 16th Pl

      MANUFACTURING (LIGHT) • 1,510 SF
      20145 16th Pl, Miami, FL 33179-2720
      View Details
    • Value Estimation
      $740,000
      2,110 SF

      20121 16th Pl

      MANUFACTURING (LIGHT) • 2,110 SF
      20121 16th Pl, Miami, FL 33179-2720
      View Details
    • Value Estimation by Request
      67,856 SF

      20815 16Th Ave

      Distribution properties • 67,856 SF
      20815 16Th Ave, Miami, FL 33179
      View Details

    Similar Nearby for Sale

    • $670,000
      2,000 SF

      Upgraded Warehouse and Office Space

      Warehouse and office space available for purchase.
      20129 NE 16Th Pl, Miami, FL 33179
      View Details
    • $1,900,000

      North Miami Industrial Land Sale

      Prime Industrial Land: I-95 Access, Gated
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      7,244 SF

      Flex-Office Condo for Sale

      7,244 SF flex-office condo available near I-95.
      20157 NE 16Th Pl, Miami, FL 33179
      View Details
    • Contact for pricing

      Move-in Ready Flex Office Space

      Renovated flex office space with 24/7 access in Miami-Dade.
      20199 NE 16Th Pl, Miami, FL 33179
      View Details
    • $2,200,000

      Flex-Office Condo for Sale

      7,244 SF flex-office condo in secure, gated business park.
      20157 NE 16Th Pl, Miami, FL 33179
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    Similar Nearby for Lease

    • Contact for pricing
      1,950 SF

      Warehouse/Flex-Office Near Aventura

      Warehouse/Flex-Office space near Aventura and North Miami Beach.
      20190-20208 NE 15Th Ct, Miami, FL 33179
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      Retail and Industrial Space Available

      146,600 SqFt single tenant retail and industrial space for rent.
      199501-19599 NE 10Th Ave, Miami, FL 33179
      View Details
    • Contact for pricing

      Flex Space Available For Rent

      Flex space available on Miami Dade and Broward County Line.
      20201 NE 15Th Ct, Miami, FL 33179
      View Details
    • Contact for pricing
      2,000 SF

      Flex Space Near I-95

      Flex space available for lease near I-95 and Ives Dairy.
      20209-20257 NE 15Th Ct, Miami, FL 33179
      View Details
    • $30 SF/Yr
      4,100 SF

      Ives Dairy Commerce Center Flex

      Flex office condo with warehouse, showroom, and offices.
      20169 NE 16Th Pl, Miami, FL 33179
      View Details
    • Contact for pricing

      Miami Flex Space For Rent

      Flex space available for rent in Miami, Florida.
      20855 NE 16Th Ave, Miami, FL 33179
      View Details
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    Miami, FL 33179
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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
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