West Little River Warehouse
1240 NW 74th St, Miami, FL 33147
For Sale
$9,000,000
30,000 SF warehouse on 65,000 SF lot for sale.
Property Size29,475 SF
Lot Size1.48 Acres
Price / SF$300
Days on Market248
Property Features for 1240 NW 74th St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
STL Commercial
Listed By:
Max Loria · License FL #3455922
(561) 901-1402
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 5:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of STL Commercial
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Investment Insights
Based on property information with market context.
This is an opportunity to purchase a 30,000 square foot warehouse situated on a 65,000 square foot lot in West Little River. The warehouse features 18-foot ceilings with 14-foot clear heights and an expansive open layout. The property includes a large outdoor area, featuring two loading ramps, one with dock height accessibility, and a third loading dock in the back. There are six roll-up doors. Numerous industrial fans are installed, and the main section of the warehouse and office space are air-conditioned. Parking is available at the front of the building. The building is fully sprinklered. The property is located in a Qualified Opportunity Zone. The property is currently occupied by a movie, TV, event, and advertisement prop business.
Key Highlights
- 30,000 sq ft warehouse on a 65,000 sq ft lot.
- Located in a Qualified Opportunity Zone.
- Currently occupied by a business netting approximately $1.1 million/year.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$489,404
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,788,080
$9.8M
Cap Rate 7%
$6,991,486
$7.0M
Cap Rate 9%
$5,437,822
$5.4M
Market Conditions
NOI Build-Up for 30,000 SF
Gross rent
$604.8K $20.16/SF
− Vacancy
−$29.0K −$0.97/SF
EGI
$575.8K $19.19/SF
− OpEx
−$86.4K −$2.88/SF
NOI
$489.4K $16.31/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,788,080
Cap Rate 7%
$6,991,486
Cap Rate 9%
$5,437,822
Alternative Uses
Best Use
Warehouse
$6.99M
$6.12M – $8.16M
NOI $489,404 @ 7.0% cap · market cap 5.44%
Second Best
Industrial
$5.76M
$5.04M – $6.72M
NOI $403,039 @ 7.0% cap · market cap 4.48%
Theoretical Best
Specialty Retail
$20.25M
$17.72M – $23.63M
NOI $1,417,514 @ 7.0% cap · market cap 15.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
Median Home Value
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Market
Average Price Trend$/SF for Warehouses in Miami, FL
Properties on Market for Warehouses in Miami
Vacancy Rate% for Industrial in Miami, FL
Similar Off Market Nearby
- SP Outdoor Storage — 7016 NW 20th Ave, Miami, FL 33147
- Offshore Boat & Jet-ski Storage — 810 NW 72nd St, Miami, FL 33150
- Yuya Xpress Corp — 1935 NW 74th St, Miami, FL 33147
- EDM USA INC Warehouse — 7401 NW 13th Ave, Miami, FL 33147
- Jacob Fleishman & Sons — 1177 NW 81st St., Miami, FL 33150
Frequently Asked Questions
What type of property is this?
Warehouse - 30,000 SF warehouse on 65,000 SF lot for sale.
Where is this warehouse located?
The property is located at 1240 NW 74th St Miami, FL.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: 30,000 sq ft warehouse on a 65,000 sq ft lot.; Located in a Qualified Opportunity Zone.; Currently occupied by a business netting approximately $1.1 million/year.
