We investigate the thermodynamic and magnetic properties of the 8-16-4 graphyne structure using the tight-binding model and Green's function formalism. Our results show that the heat capacity exhibits a Schottky anomaly, with electron doping suppressing its peak intensity. The band structure analysis confirms the presence of Dirac-like points, while an applied magnetic field lifts degeneracies and induces Zeeman splitting. The magnetic susceptibility follows the Curie-Weiss law in the undoped state but exhibits a transition to ferromagnetism with increased doping. Tensile strain enhances heat capacity and strengthens ferromagnetism, whereas compressive strain weakens both. These results highlight the tunability of doped 8-16-4 graphene, making it a promising material for nanoelectronics and spin-electronics applications.