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    1240 74Th St Miami, FL 33147

    For Sale
    $7,400,000

    29,475 SF Warehouse, Opportunity Zone

    Property size:
    29,475 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 29,475-square-foot warehouse, situated on a 64,538-square-foot lot in Miami's West Little River, presents a compelling investment opportunity. Located in a Qualified Opportunity Zone, this single-story building boasts 18-foot ceilings, providing ample vertical space. The practical layout includes three loading docks, two with dock-high doors, enhancing operational efficiency. The property features a spacious open layout with a substantial outdoor area, ideal for various industrial uses. Internal improvements include numerous industrial fans and air conditioning in the main warehouse and office areas. The building is fully sprinklered and offers convenient front parking. Currently occupied by a thriving business generating approximately $1.1 million annually (available for sale separately, with potential lease-back options), this property offers significant upside potential in a rapidly developing neighborhood. The zoning is IU-1. The asking price is $7,400,000. This is a rare chance to acquire a substantial asset in a burgeoning area.

    Property Features for 1240 74Th St

    General Information

    Property type
    Distribution properties
    Square Feet
    29,475 SF

    Building Details

    Buildings
    1
    Stories
    1

    HighLights

    • $7,400,000 asking price for a 29,475 SF warehouse in Miami, FL.
    • Located in the up‑and‑coming West Little River neighborhood, offering significant upside potential.
    • Features 18‑foot ceilings, three loading docks (two dock‑high), and ample parking.
    • Situated on a 64,538 SF lot, zoned IU‑1.
    • Currently occupied by a profitable business (approx. $1.1M annual net income), with potential for leaseback.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Movie Prop Rentals Video Production Service 1240 NW 74th ... Parking Lot

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2179478
    Latitude
    25.8417441

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    FAQs

    What type of property is this?
    Distribution property - 29,475 SF Warehouse, Opportunity Zone
    Where is this distribution property located?
    The property is located at 1240 74Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $7,400,000.
    What are key features of this property?
    This property features: $7,400,000 asking price for a 29,475 SF warehouse in Miami, FL.; Located in the up-and-coming West Little River neighborhood, offering significant upside potential.; Features 18-foot ceilings, three loading docks (two dock-high), and ample parking.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1240 74Th St Miami, FL 33147
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