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    20500 92Nd Pl Cutler Bay, FL 33189

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    20500 92Nd Pl Cutler Bay, FL 33189

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    • Small apartment buildings
    Off-Market
    Property ID
    US18-3019276
    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

    • Small apartment buildings

    Property Details for 20500 92Nd Pl

    Year built
    1977
    Property type
    Small apartment buildings

    Description

    This exceptional 1-story, 1977-built multifamily property in Cutler Bay, Florida, presents a lucrative investment opportunity. Located at 20500 SW 92nd Pl, 33189, this duplex boasts a total of five bedrooms and three bathrooms spread across two units. Unit 1 features three bedrooms and two bathrooms, complete with a private pool, recently updated appliances, and granite countertops. Unit 2 offers two bedrooms and one bathroom. Significant recent upgrades enhance this property's value and appeal. The shingle roof was replaced in 2018, ensuring long-term durability. Both air conditioning units are less than two years old, providing energy efficiency and comfort. New water heaters and a new pool pump and filter further minimize maintenance concerns. The kitchen in Unit 1 showcases modern granite countertops, and tile floors are found throughout. A wood fence provides privacy and security. This well-located property offers convenient access to the Florida Turnpike and South Dixie Highway, placing residents near a wealth of amenities. Nearby shopping centers, retailers, restaurants, supermarkets, schools, recreational parks, and medical centers provide exceptional convenience and lifestyle benefits. This is a turnkey investment ready for immediate income generation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cutler Bay
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.3418721
    Latitude
    25.5765875

    Comparable in this City

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      Converted Duplex Ready for Next

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      Prime Commercial Development Site Miami

      34,345 SF commercial site in South Dade's activity corridor.
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    • $370,000
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      Corner Lot in Cutler Bay

      Residential corner lot in the heart of Cutler Bay, Florida.
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      Prime Commercial Development Site Available

      34,345 SF commercial site with high development potential.
      214 S Dixie Hwy, Miami, FL 33189
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      20630 S Dixie Hwy, Miami, FL 33189

      Commercial land
      20630 S Dixie Hwy, Miami, FL 33189
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      Prime Miami Location on Caribbean

      Office location with daycare lease income and redevelopment potential.
      10875 Caribbean Blvd, Miami, FL 33189
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    Similar Nearby for Sale

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      2,545 SF

      Converted Duplex Ready for Next

      Fully renovated duplex ideal for investors or flexible living.
      20075 SW 87Th Pl, Cutler Bay, FL 33189
      View Details
    • $1,500,000
      0.97 Acres

      Development Opportunity in Miami, FL

      Under-constructed structure on a corner lot, ideal for redevelopment.
      21571 SW 110Th Ave, Miami, FL 33189
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      Established Restaurant Franchise Opportunity

      Restaurant franchise for sale in a well-known city mall.
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      Golden Glades Office Space Available

      Office space with multiple offices, shared amenities, and on-site parking.
      15383 NW 7Th Ave, Miami, FL 33189
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    • $4,500,000
      0.79 Acres

      Prime Commercial Development Site Miami

      34,345 SF commercial site in South Dade's activity corridor.
      214 S Dixie Hwy, Miami, FL 33189
      View Details
    • $370,000
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      Corner Lot in Cutler Bay

      Residential corner lot in the heart of Cutler Bay, Florida.
      9800 SW 213Th St, Cutler Bay, FL 33189
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    Similar Nearby for Lease

    • $2,200 /Mo

      Functional Duplex Near Southland Mall

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      Two-Bedroom Duplex Unit For Rent

      Two-bedroom, one-bathroom duplex unit with shared backyard.
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    • $12 SF/Yr

      Cutler Bay Duplex Ready Now

      Two-bedroom, two-bath duplex unit available for rent.
      20044 SW 87Th Pl, Cutler Bay, FL 33189
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      Retail Spaces For Rent

      Retail spaces available, ranging from 825 to 1,725 SqFt.
      26215 S Dixie Hwy, Miami, FL 33189
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    Cutler Bay, FL 33189
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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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