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    20707-20709 NW 2Nd Ave Miami Gardens, FL 33169
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    Property profile & analytics

    20707-20709 NW 2Nd Ave, Miami Gardens, FL 33169

    View on Map
    • Outlet malls
    • 45,010 SF
    • 3.10 lot acres
    For Lease
    $2,950/Mo
    View Listing →
    Prime Retail Space in Plaza For Lease
    $2,950/Mo
    1,920 SF

    Prime Retail Space in Plaza

    Retail spaces available for lease in busy Miami Gardens plaza.

    20707-20709 NW 2nd Ave, Miami Gardens, FL 33169
    View Listing
    Property ID
    US18-8495808
    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

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 20707-20709 NW 2Nd Ave

    Year built
    1983
    Construction
    CONCRETE
    Lot size
    3.10 lot acres
    Zone code
    6500:COMMERCIAL,CLASSIF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    34-1136-000-0073
    APU
    3411360000073

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 26, 2025 — Faniu LLC — Deed · related $750k · First American Bank
    Jun 23, 2023 — Fanlu LLC — Deed · related $5M · First American Bank
    Oct 28, 2016 $9,075,000 Fanlu LLC 441 Plaza LLC Warranty Deed —
    Oct 6, 2005 $5,575,000 441 Plaza LLC Nmb Building INC Warranty Deed $3.6M · International Finance Bank
    — — 441 Plaza LLC — Loan Modification · related $3.2M · International Finance Bank

    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
    Miami Gardens
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.2055
    Latitude
    25.9666
    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
    $195,654
    $3,645,972
    $5,301,828
    $8,947,800
    -
    $3,645,972
    $5,301,828
    $8,947,800

    Comparable in this City

    • Value Estimation
      $1,190,000
      3,839 SF

      20600 2nd Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      20600 2nd Ave, Miami Gardens, FL 33169-2509
      View Details
    • Value Estimation
      $1,490,000
      4,464 SF

      57 183rd St

      WHOLESALE OUTLET, DISCOUNT STORE
      57 183rd St, Miami Gardens, FL 33169-4516
      View Details
    • Value Estimation
      $1,395,000
      6,294 SF

      869 183rd St

      WHOLESALE OUTLET, DISCOUNT STORE
      869 183rd St, Miami Gardens, FL 33169-4251
      View Details
    • Value Estimation
      $810,000
      2,240 SF

      15400 7th Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      15400 7th Ave, Miami, FL 33169-6208
      View Details
    • Value Estimation
      $2,245,000
      6,453 SF

      16600 Miami Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      16600 Miami Ave, Miami, FL 33169-6026
      View Details
    • Value Estimation
      $905,000
      3,060 SF

      16775 Miami Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      16775 Miami Ave, North Miami Beach, FL 33169-6032
      View Details

    Similar Nearby for Sale

    • $9,125,000
      27,872 SF

      Miami Gardens Retail Center For Sale

      Retail center in Miami Gardens with high visibility and accessibility.
      19501 NW 2Nd Ave, Miami Gardens, FL 33169
      View Details
    • Contact for pricing

      Miami Gardens Event Space Opportunity

      Partially built-out kitchen and event space in Palmetto hotel.
      16805 NW 12Th Ave, Miami Gardens, FL 33169
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    • $2,500,000
      3,503 SF

      Miami Retail Space For Sale

      Retail space available in Miami, ideal for commercial real estate.
      19301 NW 2Nd Ave, Miami, FL 33169
      View Details
    • Contact for pricing

      Restaurant and Kitchen Space Available

      Restaurant and kitchen space in Miami with high visibility.
      148 NW 167Th St, Miami, FL 33169
      View Details
    • $1,699,000

      South Beach Bar/Restaurant Opportunity

      Prime corner location bar and restaurant with full liquor license.
      Miami Beach, FL 33169
      View Details
    • $400,000

      Miami Beach Bar/Restaurant Opportunity

      Prime location bar and restaurant on Lincoln Road, Miami Beach.
      $$$Michigan Ave, Miami Beach, FL 33169
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Space in Miami Gardens

      Grocery-anchored retail space available for lease in Miami Gardens.
      19901 NW 2Nd Ave, Miami Gardens, FL 33169
      View Details
    • Contact for pricing
      840 SF

      Retail Space Available For Lease

      Retail space in excellent condition, fully built out.
      18302-18380 NW 7Th Avenue Rd, Miami Gardens, FL 33169
      View Details
    • Contact for pricing
      12,945 SF

      Retail Space Near Route 95

      12,945 SF retail space with parking and medical zoning.
      41 Nw 167Th St, Miami, FL 33169
      View Details
    • $0.03 SF/Yr
      18,726 SF

      Miami Gardens Retail Space

      Prime Miami Gardens retail, 2538 SF
      20450 2Nd Ave, Miami, FL 33169
      View Details
    • $0.04 SF/Yr
      17,185 SF

      Miami Gardens Restaurant Space

      Prime Corner Unit, 17,185 SF
      20450 2Nd Ave, Miami, FL 33169
      View Details
    • $40 SF/Yr
      77,999 SF

      New Retail Center in Miami

      New retail development with immediate availability and various commercial uses.
      20450 NW 2Nd Ave, Miami Gardens, FL 33169
      View Details
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    Miami Gardens, FL 33169
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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.

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