727-902-1863
11900 SW 128th St, Miami, FL for Sale
Warehouse - FOR SALE
1/14
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11900 SW 128th St
Miami, FL 33186
Three Lakes


HIGHLIGHTS

  • Unique portfolio with flexible acquisition and exit strategy optionality.
  • Attractive value proposition with strong cash flow and long-term upside.
  • Substantial value-add potential through multiple pathways to increase NOI.
  • Institutional-quality specifications with versatile, above-market improvements.
  • Strategic infill Miami location optimized for last-mile logistics and connectivity.
  • High barriers to entry ensuring continued rent growth and capital appreciation.

OVERVIEW

JLL has been exclusively retained to market for sale the Miami Turnpike Industrial Portfolio – a 100% leased, 218,621 SF last-mile logistics portfolio strategically positioned along Florida’s Turnpike and the Don Shula Expressway in the high-barrier South Dade submarket of Miami, Florida. The Portfolio benefits from proximity to key logistics infrastructure such as Miami International Airport, PortMiami, and Tamiami Airport. The Portfolio is 100% leased to nine national and regional tenants with an average tenure of 10.5 years and strong historical occupancy. The portfolio’s longstanding success is underpinned by its above-market building specifications including 1,145 linear feet of highway frontage, 14,400A 120/208V-277/480V 3-phase heavy power, 18’-25’ clear heights, four-sided loading capabilities, 100% dock-high loading, 67% climate-controlled space, versatile bays ranging from 4K-29K SF, and former rail-service with reactivation optionality. The Property is one of only few institutional-quality assets in the submarket offering above-market specifications and differentiated product. The Portfolio features a 2.6 year weighted average lease term and a 31%+ un-trended mark-to-market opportunity. Additional value add opportunities include: conversion to NNN lease structures, monetization of the ±1.4 acres of outdoor storage/expansion space, installation of billboard signage (±$10K estimated monthly revenue) and potential Shallow-Bay condo conversion ($400+ PSF), providing multiple pathways to strong NOI growth and exit strategy optionality. The Portfolio benefits from a strategic location in the heart of Southwest Dade, Miami’s tightest industrial market, posting the MSA’s lowest vacancy rate at 2.1% and sustaining sub-3% vacancy for over a decade. Future rent growth is protected by severe supply constraints which position existing assets in the submarket for long-term rent growth and capital appreciation. The Portfolio is also expected to benefit from the Don Shula Expressway (SR 874) extension and on-ramp improvements, which will enhance accessibility to I-75, I-95, and the broader South Florida logistics network while reducing congestion and drive times.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Miami Turnpike Industrial Portfolio

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

ADD'L SUBTYPES

Distribution, Light Distribution

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

UTILITIES

Heating

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

1

PARKING SPACES

252

LAND DETAILS

LAND ACRES

6.89

LAND SF

300,128

ZONING

IU-C

APN/PARCEL ID

30-5913-003-0320

ASK ABOUT THIS PROPERTY

727-902-1863

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727-902-1863

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