Industrial Property For Sale
- Price:
- $4,950,000
- Building Size:
- 21,580 SF
- Price/SF:
- $229.38
- Property Type:
- Industrial
- Property Sub-type:
- Warehouse
- Cap Rate:
- 3.06%
- No. Stories:
- 2
- Tenancy:
- Multiple
- Year Built:
- 1924
- Clear Ceiling Height:
- 14 ft.
- Dock-High Doors/Loading:
- 4
- Drive In/Grade-Level Doors:
- 4
- Lot Size:
- 0.38 AC
- Parking Ratio:
- 10 / 1,000 SF
- Listing ID
- 19058942
- Last Updated
- 22 days ago
Utilities
- Fenced Yard
- Electricity/Power
- Sprinklers
Highlights
- High visibility
- Perfect for Art Gallery
- Oportunity to new development.
Description
***PRICE REDUCED, OWNER VERY MOTIVATED***
Excellent opportunity to acquire this two story industrial building totaling 21,580 SF located in Wynwood Neighborhood, Miami. This is a great chance for an investor to acquire a stabilized cash-flowing asset. Ultimately, as market demand increases and thanks to the change of zoning, the subject can be redeveloped up to eight stories, as it will fall within the Miami T6-8 O zoning designation.
Building is fully leased to 12 tenants currently renting under market value. Investor will have a possibility to renovate the building with his own touch, giving an opportunity to increase rental rate.
Situated blocks away from Wynwood Neighborhood, just a few minutes to Midtown and Design District which is positioned to be South Florida's headquarters of art, design, cuisine and fashion.
West of Biscayne Blvd. East of I-95
Financial Summary
Major Tenant Information
- Actual
- Year2014
- Scheduled Gross Income$248,474
- Operating Expenses$85,184
- Net Operating Income$163,290
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