Property Description
south florida commercial real estate
20113 NE 16th Pl #20113, Miami, FL 33179 (MLS # A10889321)
(all data current as of 7/31/2021)
| Price | $850,000 |
|---|---|
| Home size | 1,804 sqft |
| Lot Size | 6,024 sqft |
| Days on Market | 388 |
| Status | Pending |
Three (3) Flex condo office bays totaling 6,024 sq. ft., 2 story, warehouse space with 12 offices, showroom, conference room, kitchen, 4 bathrooms, cargo elevator up to 750 lbs, central monitored alarm system, video camera system, gated with 24 hour access and security, free parking, pre wired for internet. emergency gas fueled backup generator 5 KW. less than 0.5 mile easy access to I-95. Owner user or investor.
Property Type(s): Commercial
| Last Updated | 1/9/2021 | Tract | |
|---|---|---|---|
| Year Built | 1989 | Community | 12 |
| Garage Spaces | n/a | County | Miami-Dade |
| Total Parking | n/a |
Price History
| Prior to Nov 9, '20 | $895,000 |
|---|---|
| Nov 9, '20 - Today | $850,000 |
Additional Details
| Lot | 6024 sq ft | Area | 12 |
|---|---|---|---|
| HOA Dues | 1498, Monthly | Parking | 2 spaces |
| Sewer | PublicSewer | Stories | 2 |
| Taxes | 3833 | Utilities | Electric - Item220Volts |
| Water | Public | Zoning | 7300 |
Features
| Air | CentralAir, WallWindowUnits |
|---|---|
| Air Conditioning | Yes |
| Construction | BLOCK |
| Heat | CENTRAL, Electric |
Location
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Listed with Rise Realty
Miami Real Estate Market has a new South Florida Commercial Property for Sale: Three (3) Bay Ives Dairy Commerce Center Flex office condo totaling 6,024 sq. ft., 2 story warehouse with 12 offices, showroom, conference room, kitchen, 4 bathrooms, cargo elevator up to 750 lbs., central monitored alarm system, video camera system, gated with 24 hour access and security. 5 KW gas fueled emergency generator. Less than 0.5 mile easy access to I-95. Owner User or Investor. Timepiece International is motivated to sell! Commercial Real Estate Miami. Contact Miami Commercial Property Broker Keith Darby President of Rise Realty for showings. Investment Real Estate Miami. commercial real estate for sale miami
Lease vs. Own Analysis ** All information furnished is from sources deemed reliable, no representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice, and any special listing conditions.
| TOTAL SAVINGS OVER 10 YEARS | $(1,604,085) | ||||||||||
| Business Condominium Unit Analysis | |||||||||||
| Total Area | 6,024 | ||||||||||
| Owner Tax Rate | 35% | ||||||||||
| Depreciation (Years) | 39.50 | ||||||||||
| Inflation Rate | 5% | ||||||||||
| PURCHASE OPTION DATA | |||||||||||
| PURCHASE PRICE | $149.00 | $895,000 | |||||||||
| DOWN PAYMENT | 5.00% | $44,750 | LEASE OPTION DATA | ||||||||
| MORTGAGE AMOUNT | 95.00% | $850,250 | RETAIL LEASE RATE EQUIVLENT | $20.00 | |||||||
| LOAN TERM | 20 | LEASE TYPE (“1” FOR NET “0” FOR GROSS) | 0 | ||||||||
| INTEREST RATE | 3.50% | STATE SALES TAX | 6.00% | ||||||||
| OPERATING EXPENSES P.S.F. | $3.00 | COMMON AREA EXPENSE (% OF RENT) | 0.00% | ||||||||
| REAL ESTATE PROPERTY TAXES | $2.62 | OPERATING EXPENSE P.S.F. | $6.00 | ||||||||
| EQUITY INCOME LOSS (net of taxes) | 5.00% | $0.24 | ANNUAL INCREASES | 3.00% | |||||||
| PURCHASING ANALYSIS | |||||||||||
| YEAR 1 | YEAR 2 | YEAR 3 | YEAR 4 | YEAR 5 | YEAR 6 | YEAR 7 | YEAR 8 | YEAR 9 | YEAR 10 | ||
| PRINCIPAL & INTEREST | $(9.93) | $(9.93) | $(9.93) | $(9.93) | $(9.93) | $(9.93) | $(9.93) | $(9.93) | $(9.93) | $(9.93) | |
| OPERATING EXPENSES | $(3.00) | $(3.15) | $(3.31) | $(3.47) | $(3.65) | $(3.83) | $(4.02) | $(4.22) | $(4.43) | $(4.65) | |
| CAPITAL RESERVES | $(2.62) | $(2.62) | $(2.62) | $(2.62) | $(2.62) | $(2.62) | $(2.62) | $(2.62) | $(2.62) | $(2.62) | |
| INCOME LOSS ON DOWN PAYMENT | $(0.24) | $(0.24) | $(0.24) | $(0.24) | $(0.24) | $(0.24) | $(0.24) | $(0.24) | $(0.24) | $(0.24) | |
| TAX SAVINGS | $4.07 | $4.06 | $4.05 | $4.04 | $4.03 | $4.03 | $4.02 | $4.01 | $4.01 | $4.00 | |
| ANNUAL PRINCIPAL PAYDOWN | $4.96 | $5.14 | $5.32 | $5.51 | $5.71 | $5.91 | $6.12 | $6.34 | $6.56 | $6.80 | |
| NET CASH EXPENSE | $(6.76) | $(6.75) | $(6.73) | $(6.71) | $(6.70) | $(6.69) | $(6.67) | $(6.66) | $(6.65) | $(6.65) | |
| NET PRESENT VALUE OF CASH EXPENSE (p.s.f.) | $(51.75) | ||||||||||
| LEASING ANALYSIS | |||||||||||
| YEAR 1 | YEAR 2 | YEAR 3 | YEAR 4 | YEAR 5 | YEAR 6 | YEAR 7 | YEAR 8 | YEAR 9 | YEAR 10 | ||
| RENT | $20.00 | $20.60 | $21.22 | $21.85 | $22.51 | $23.19 | $23.88 | $24.60 | $25.34 | $26.10 | |
| OPERATING EXPENSES | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | |
| SALES TAX | $1.56 | $1.60 | $1.63 | $1.67 | $1.71 | $1.75 | $1.79 | $1.84 | $1.88 | $1.93 | |
| TAX SAVINGS | $(9.65) | $(9.87) | $(10.10) | $(10.33) | $(10.58) | $(10.83) | $(11.09) | $(11.35) | $(11.63) | $(11.91) | |
| NET CASH EXPENSE | $17.91 | $18.33 | $18.75 | $19.19 | $19.64 | $20.11 | $20.59 | $21.08 | $21.59 | $22.11 | |
| CASH OUTLAY ANALYSIS WITHOUT TAX BENEFITS | |||||||||||||
| LEASING YEAR 1 | LEASING 10 YEAR AVG. | OWNERSHIP YR. 1 | |||||||||||
| MONTHLY | ANNUAL | MONTHLY | ANNUAL | MONTHLY | ANNUAL | ||||||||
| EXPENSE | EXPENSE | EXPENSE | EXPENSE | EXPENSE | EXPENSE | ||||||||
| RENT PAYMENT | 10,040 | 120,480 | 11,510 | 138,117 | MORTGAGE PAYMENT | 4,985 | 59,825 | ||||||
| SALES TAX | 6% | 602 | 7,229 | 691 | 8,287 | OPERATING EXPENSE | 1,506 | 18,072 | |||||
| OTHER EXPENSES | 3,012 | 36,144 | 4,217 | 50,602 | OTHER EXPENSE | 1,315 | 15,783 | ||||||
| TOTAL | 13,654 | 163,853 | 16,417 | 197,005 | TOTAL | 7,807 | 93,679 | ||||||
| MASTER PAYMENT DATA | DATA FOR DEPRECIATION | ||||||||||||
| MONTHLY P & I | $4,985.38 | PRICE P.S.F. | $895,000 | ||||||||||
| P & I P.S.F. | $9.93 | LAND COST P.S.F. | 0% | $0 | |||||||||
| REAL ESTATE TAXES | $1,315.24 | ||||||||||||
| OPER. EXPENSE | $1,506.00 | NON LAND COST P.S.F. | 100% | $895,000 | $22,658 | ||||||||
| TOTAL PAYMENT | $7,816.55 | ||||||||||||
| SIZE | RENT | YEAR 1 | YEAR 2 | YEAR 3 | YEAR 4 | YEAR 5 | YEAR 6 | YEAR 7 | YEAR 8 | YEAR 9 | YEAR 10 | ||
| OFFICE AREA | 6,024 | $20.00 | 120,480 | 124,094 | 127,817 | 131,652 | 135,601 | 139,669 | 143,859 | 148,175 | 152,620 | 157,199 | |
| WAREHOUSE AREA | 0 | $0.00 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| TOTAL OR AVERAGE | 6,024 | 120,480 | 124,094 | 127,817 | 131,652 | 135,601 | 139,669 | 143,859 | 148,175 | 152,620 | 157,199 | ||
| RENT PER S.F. | 20.00 | 20.60 | 21.22 | 21.85 | 22.51 | 23.19 | 23.88 | 24.60 | 25.34 | 26.10 | |||
| MONTHLY RENT | 10,040 | 10,341 | 10,651 | 10,971 | 11,300 | 11,639 | 11,988 | 12,348 | 12,718 | 13,100 | |||
| principal | principal p.s.f. | interest | interest p.s.f. | ||||||||||
| YEAR 1 | 29,891 | $4.96 | 29,282 | $4.86 | |||||||||
| YEAR 2 | 30,954 | $5.14 | 28,219 | $4.68 | |||||||||
| YEAR 3 | 32,055 | $5.32 | 27,118 | $4.50 | |||||||||
| YEAR 4 | 33,195 | $5.51 | 25,978 | $4.31 | |||||||||
| YEAR 5 | 34,376 | $5.71 | 24,797 | $4.12 | |||||||||
| YEAR 6 | 35,598 | $5.91 | 23,575 | $3.91 | |||||||||
| YEAR 7 | 36,865 | $6.12 | 22,309 | $3.70 | |||||||||
| YEAR 8 | 38,176 | $6.34 | 20,998 | $3.49 | |||||||||
| YEAR 9 | 39,534 | $6.56 | 19,640 | $3.26 | |||||||||
| YEAR 10 | 40,940 | $6.80 | 18,234 | $3.03 | |||||||||
Currently Timepiece International, Inc’s showroom office. Highly secured Ives Dairy Commerce Center Industrial Park, gated with 24 hour access and security.
Four (4) restrooms. Emergency 5 KW generator.
Join tenants Fossil Group, Mulco, Terminix, Dream Water, Mulco Watches and Timepiece International.
Four (4) restrooms. Emergency 5 KW generator.
Join tenants Fossil Group, Mulco, Terminix, Dream Water, Mulco Watches and Timepiece International.
Property Id : 6529
Price: $ 850,000
attic
gas heat
ocean view
wine cellar
basketball court
gym
pound
fireplace
lake view
pool
back yard
front yard
fenced yard
sprinklers
washer and dryer
deck
balcony
laundry
concierge
doorman
private space
storage
recreation
roof deck
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