Heavy Industrial Warehouse For
3480 NW 41st Street, Miami, FL 33142
62,664 SF warehouse with frontage on Airport Expressway.
Type:Industrial
Property size:
62,664 SFPrice / SF:
$199/SF- Added:
- May 2, 2024
- Days on Market:
- 789
- Last Refresh:
- May 12 at 10:28 pm
Property Features for 3480 NW 41st Street
General Information
- Standard status
- Active
- Size
- 62,664 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1968
Listing office The Keyes Company
Listing date May 2, 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 The Keyes Company
HighLights
- Superb frontage on the #112 / Airport Expressway (190,000+ daily vehicles) for advertising.
- Strategic location: within a mile of Miami International Airport and approximately 2 miles from the Port of Miami/Miami Beach.
- 62,664 SF Heavy Industrial Warehouse.
- “True” two‑story warehouse with +/- 30,000 SF on each floor.
- Fully sprinklered with twin‑T construction on roof and 2nd floors.
- Located in an Opportunity Zone (potential tax advantages).
Overview
This 62,664 SF heavy industrial warehouse is available for sale. The building features frontage on the #112 / Airport Expressway. The warehouse is strategically located within a mile (5-7 minutes) from Miami International Airport and around 2 miles (10-13 minutes) from the Port of Miami/ Miami Beach. The building is a two-story warehouse with approximately 30,000 SF on each floor. The building has both a passenger elevator (temporarily out-of-service) and a fully functional freight elevator. The building is fully sprinklered and is of twin-T construction on both roof and 2nd floors. It is located in an Opportunity Zone.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.26M | $20.16 |
| − Vacancy | −$60.6k | −$0.97 |
| EGI | $1.20M | $19.19 |
| − OpEx | −$180.4k | −$2.88 |
| NOI | $1.02M | $16.31 |
62,664 SF · lease $20.16/SF/yr · vacancy 4.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$14.60M
$12.78M – $17.04M
NOI $1,022,267 @ 7.0% cap · market cap 8.18%
Second Best
Industrial
$12.03M
$10.52M – $14.03M
NOI $841,867 @ 7.0% cap · market cap 6.73%
Theoretical Best
Specialty Retail
$42.30M
$37.01M – $49.35M
NOI $2,960,902 @ 7.0% cap · market cap 23.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
True X Miami ...
Car Rental Facility
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- Near2Me Self Storage Units — 3601 NW 27th Ave, Miami, FL 33142
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.253369
- Latitude
- 25.81234
Nearby Similar for Sale
FAQs
What type of property is this?
Warehouse - 62,664 SF warehouse with frontage on Airport Expressway.
Where is this warehouse located?
The property is located at 3480 NW 41st Street Miami, FL.
What is the asking price?
The asking price for this property is $12,500,000.
What are key features of this property?
This property features: Superb frontage on the #112 / Airport Expressway (190,000+ daily vehicles) for advertising.; Strategic location: within a mile of Miami International Airport and approximately 2 miles from the Port of Miami/Miami Beach.; **62,664 SF Heavy Industrial Warehouse.**
