Allapattah Cooler/Freezer Warehouse
2332 NW 21st Terrace Miami, FL 33142
2332 NW 21st Terrace, Miami, FL, 33142
Contact for pricing
For Sale
Contact for pricing
9,500 SF warehouse with cooler/freezer in urban core.
Property Size9,500 SF
Lot Size0.36 Acres
Price / SF$526.32
Days on Market1138
Property Features for 2332 NW 21st Terrace
General Information
- Standard status
- Active
- Size
- 9,500 SF
- Lot size
- 0.36 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1968
Listing Agency
Fausto Commercial Realty Consultants
(786) 499-4912
Listed by
Ernesto Diaz · License #3124735
Source
Crexi
Added: Jun 7, 2023 Checked: Jul 17 at 12:18 pm
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 Fausto Commercial Realty Consultants
Investment Insights
Based on property information with market context.
This property features two adjacent buildings totaling 9,500 square feet, situated on a 15,500 square foot lot. Of the total space, 4,750 square feet is dedicated cooler/freezer space, while the remaining 4,750 square feet comprises dry warehouse area. The buildings feature robust construction, with 18 to 20-foot ceilings and twin-tee concrete roofs. Access is facilitated by street-level overhead doors, and the property includes small built-out office spaces. The property includes newly built-out, top-of-the-line dock-level freezers and coolers, all maintained to a high standard. Located in Allapattah, the site offers accessibility to Wynwood and is within 10 minutes of Brickell, Downtown, the airport, seaport, and Gables. The property is suitable for various industrial uses, offering logistical advantages due to its urban core location. It also presents development value, with major developers active in the area.
Key Highlights
- 4,750 SF of newly built‑out, top‑of‑the‑line dock‑level freezers and coolers, perfectly maintained.
- Prime urban core Allapattah location, close to Wynwood, Brickell, Downtown, airport, seaport, and Gables.
- Two adjacent buildings totaling 9,500 SF (4,750 SF cooler/freezer and 4,750 SF dry warehouse) on a 15,500 SF lot.
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 | $191.5k | $20.16 |
| − Vacancy | −$9.2k | −$0.97 |
| EGI | $182.3k | $19.19 |
| − OpEx | −$27.3k | −$2.88 |
| NOI | $155.0k | $16.31 |
9,500 SF · lease $20.16/SF/yr · vacancy 4.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.21M
$1.94M – $2.58M
NOI $154,978 @ 7.0% cap · market cap 3.10%
Second Best
Industrial
$1.82M
$1.60M – $2.13M
NOI $127,629 @ 7.0% cap · market cap 2.55%
Theoretical Best
Specialty Retail
$6.41M
$5.61M – $7.48M
NOI $448,879 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Hardy Commercial Cleaners ...
Commercial Cleaning Service
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FAQs
What type of property is this?
Warehouse - 9,500 SF warehouse with cooler/freezer in urban core.
Where is this warehouse located?
The property is located at 2332 NW 21st Terrace Miami, FL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 4,750 SF of **newly built‑out, top‑of‑the‑line dock‑level freezers and coolers**, perfectly maintained.; Prime urban core Allapattah location, close to Wynwood, Brickell, Downtown, airport, seaport, and Gables.; Two adjacent buildings totaling 9,500 SF (4,750 SF cooler/freezer and 4,750 SF dry warehouse) on a 15,500 SF lot.
