280 60Th St Miami, FL 33137
- Manufacturing properties
- 7,938 SF
- 0.29 lot acres
Current Use by Public Records
- STATIK / Cell Phone Accessory Store
Property Details for 280 60Th St
- Year built
- 1973
- Construction
- CONCRETE
- Lot size
- 0.29 lot acres
- Property size
- 7,938 SF
- Zone code
- 7000:INDUSTRIAL,GENERAL
- Property type
- Manufacturing properties
- APN
- 01-3218-016-0080
- APU
- 132180160080
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.1903
- Latitude
- 25.8312
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
