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7331 NW 27th Avenue - Red's Auto-Customizing Warehouse, Miami, FL
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7331 NW 27th Avenue - Red's Auto-Customizing Warehouse
Miami, FL 33147-6207 - Central Miami Ind Submarket
.84 AC (36,678 SF)
For Sale Price:
29,923 SF is available to occupy upon purchase.
Red's Auto Customizing Warehouse is a local landmark in the Miami Auto customization market. Red' s Miami is a full service auto-body shop specializing in Auto-Customizing. What makes Red' s unique is there own line of Diesel Wheels and conversion kits that allow their customers to run wheels on any year/model dually truck or super single wheel truck.
The Red' s Auto-Customizing warehouse is being offered as an investment opportunity visa-vie a sale lease-back transaction. Red' s is prepared to accept of range of lease terms between 3, 5, or 10 years with 3 percent (or CPI) annual increases.
Red' s is prepared to pay $9.00 per square foot per year base lease rate. The lease will be NNN; more specifically Red' s will be responsible for property taxes, insurance, and common area maintenance.
These lease terms are prevalent with the market and deliver strong financial indicators in its favor. The lease will yield an initial capitalization rate of 7.84%. an investor can expect to attain an internal rate of return of 12.61% in year 5; assuming the before mentioned terms and increase the 5 year internal rate of return and a 8% selling CAP Rate.
Red' s Auto-Customizing Warehouse is located in what' s known as Miami-Dade Counties Inner Core . The Inner Core is a unique area due to its central position in Miami-Dade Counties' industrial infrastructure. If you examine the map below you will find Red' s in the epicenter of the action; practically equidistant from Miami International Airport, I-95, Okeechobee Road, Us-441, the Dolphin Express way, and the 112 (airport expressway).
This factor is crucial to the residual value of the site in the long term. The Inner Core or as it is more formally referred to as North Central Miami-Dade has been an area of high interest for Miami-Dade Counties Office of Community and Economic Development. The Office of Community and Economic Development (OCED) administers Federal and State funding that supports the development of viable urban neighborhoods in Miami-Dade County characterized by decent housing, expansion of economic opportunities and the preservation of historic properties .
In fact the OCED owns 7.83 acres of land in North Central Miami-Dade County which happens to be located directly across the street from Red' s Auto-Customizing Warehouse.
+/- 29,923 Total Square Feet
+/- 14,474 SF Showroom & Warehouse
Five (5) Bays Ranging from +/- 2,100 SF - +/- 5,625 SF
Bays are Separately Metered, Fenced, and have One (1) Loading Door
Situated on a +/- 36,679 SF Lot
14' - 18' Clear Ceiling Height
+/- 2,000 SF Interior Yard
Unique BU-3 Zoning | Retail Allowed
Frontage on NW 27 Ave
+/- 30,000 -33,500 Cars Per Day
CLICK HERE TO CONTACT THE SALES BROKER
FOR SALE CONTACTS
Sperry Van Ness Commercial Realty
View all my listings
Joel A Kattan
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