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Ives Dairy Commerce Center Warehouse Flex Office Condo

$ 850,000
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Property Description

south florida commercial real estate

20113 NE 16th Pl #20113, Miami, FL 33179 (MLS # A10889321)

(all data current as of 4/16/2021)
Price $850,000
Home size 1,804 sqft
Lot Size 6,024 sqft
Days on Market 282
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

(view all details for MLS #A10889321)

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.
City:
State/County: ,
Zip: 33179
Country: United States
Open In Google Maps
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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