West Little River Warehouse Opportunity

1240 NW 74th St, Miami, FL 33147

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For Sale

Contact for pricing

30,000 SF warehouse in up-and-coming Little River neighborhood.

Type:Industrial

Property size:

29,475 SF

Lot size:

1.49 Acres

Price / SF:

$305/SF

HighLights

30,000 sq ft warehouse on a 65,000 sq ft lot in up‑and‑coming West Little River.
Located in a Qualified Opportunity Zone.
Potential for leaseback from existing business netting approximately $1.1 million/year.
Expansive open layout with 18 ft ceilings (14 ft clear height).
Multiple loading docks (including one with dock height) and six roll‑up doors.
AC in main warehouse section and office space; 100% sprinklered.

We can help!

Listing Contact

Max Loria

For Sale

Contact for pricing

30,000 SF warehouse in up-and-coming Little River neighborhood.

Type:Industrial

Property size:

29,475 SF

Lot size:

1.49 Acres

Price / SF:

$305/SF

Added:: Mar 25, 2024
Days on Market:: 816
Last Refresh:: May 12 at 8:08 pm

Property Features for 1240 NW 74th St

General Information

Standard status: Active
Size: 29,475 SF
Lot size: 1.49 Acres
Property subtype: Industrial

We can help!

Listing Contact

Max Loria

Listing agent Max Loria License #3455922

Listing office STL Commercial

Listing date Mar 25, 2024

Source Crexi

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

HighLights

30,000 sq ft warehouse on a 65,000 sq ft lot in up‑and‑coming West Little River.
Located in a Qualified Opportunity Zone.
Potential for leaseback from existing business netting approximately $1.1 million/year.
Expansive open layout with 18 ft ceilings (14 ft clear height).
Multiple loading docks (including one with dock height) and six roll‑up doors.
AC in main warehouse section and office space; 100% sprinklered.

Overview

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 with two loading ramps, one with dock height accessibility, and a third loading dock at 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 and is located in a Qualified Opportunity Zone. The property is currently occupied by a movie, TV, event, and advertisement prop business.

Local Financial Insights For Warehouse

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$594.2k	$20.16
− Vacancy	−$28.5k	−$0.97
EGI	$565.7k	$19.19
− OpEx	−$84.9k	−$2.88
NOI	$480.8k	$16.31

29,475 SF · lease $20.16/SF/yr · vacancy 4.80% · expense 15.00%

Alternative Uses

Best Use

Warehouse

$6.87M

$6.01M – $8.01M (±1% cap)

NOI $480,840 @ 7.0% cap · market cap 5.34%

Second Best

Industrial

$5.66M

$4.95M – $6.60M (±1% cap)

NOI $395,986 @ 7.0% cap · market cap 4.40%

Theoretical Best

Specialty Retail

$19.90M

$17.41M – $23.21M (±1% cap)

NOI $1,392,707 @ 7.0% cap · market cap 15.47%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Movie Prop Rentals Film Production 1240 NW 74th ... Parking Lot & Garage

Suggested Use

Similar Places Nearby

SP Outdoor Storage — 7016 NW 20th Ave, Miami, FL 33147
EDM USA INC Warehouse — 7401 NW 13th Ave, Miami, FL 33147
Yuya Xpress Corp — 1935 NW 74th St, Miami, FL 33147
Offshore Boat & Jet-ski Storage — 810 NW 72nd St, Miami, FL 33150
Jacob Fleishman & Sons — 1177 NW 81st St., Miami, FL 33150

Location Insight

Map
Local Demand

City: Miami
County: Miami-Dade
State: Florida
Longitude: -80.218771
Latitude: 25.841695

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For sale
Warehouses
FL
Miami
33147
1240 NW 74th St

What type of property is this?

Warehouse - 30,000 SF warehouse in up-and-coming Little River neighborhood.

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 in up‑and‑coming West Little River.; Located in a Qualified Opportunity Zone.; Potential for leaseback from existing business netting approximately $1.1 million/year.