280 60Th St Miami, FL 33137
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4-bay warehouse, Miami, FL; high potential.
Property size:
7,898 SFProperty Features for 280 60Th St
General Information
- Property type
- Manufacturing properties
- Square Feet
- 7,898 SF
- Class
- B
Building Details
- Year Built
- 1973
- Buildings
- 1
- Stories
- 1
- Units
- 4
Listing Agent: Brian Carter, P.a.
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This 7,898 sq ft Miami warehouse, built in 1973, offers significant value-add potential. Located in a D1 Mixed Use zone, it features 18' ceilings and is situated near the Magic City Innovation District. The property consists of one single-story building with four units, currently leased at below-market rates, presenting a strong opportunity for lease-up or redevelopment. The asking price is $3,500,000, representing a $443.15/sq ft price and a 6.7% cap rate based on pro forma rents of $30/sq ft NNN. The land value alone is $215/sq ft. Significant redevelopment potential exists, allowing for up to 80,000 buildable square feet and up to eight stories. The property is ideal for an owner-user, investor seeking lease-up income, or a developer looking for a value-add opportunity. Current rents are below market, offering immediate upside. The property is a Net Lease (NNN) investment. The location benefits from proximity to major transportation arteries and the burgeoning Magic City Innovation District. This is a prime opportunity to capitalize on the growth of Miami's Little Haiti neighborhood.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
STATIK
Electronics & Wireless Store
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.190459330169
- Latitude
- 25.831413326389
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FAQs
What type of property is this?
Manufacturing property - 4-bay warehouse, Miami, FL; high potential.
Where is this manufacturing property located?
The property is located at 280 60Th St Miami, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: $3,500,000 asking price for a 7,898 SF industrial warehouse in Miami, FL.; Multi-tenant, Class B warehouse with 4 units, offering a 6.7% cap rate.; Located in Miami-Dade County, zoned D1 Mixed Use, allowing for redevelopment up to 80,000 buildable SF.
