230 NW 71st St - Warehouse FOR SALE


Miami, FL 33150- Little River
$4,000,000 USD
786-690-7500
230 NW 71st St, Miami, FL for Sale
$4,000,000 USD
Warehouse - FOR SALE
1/19
null | 7.07% Cap Rate

230 NW 71st St
Miami, FL 33150
Little River


HIGHLIGHTS

  • Fully renovated building
  • Cash-flowing asset with over $280K in NOI
  • Fronting one of Little River's fastest growing pockets with tenants like Sunny's Steakhouse, Fooq's, El Bagel, Imperial Moto Cafe, La Natural, & more

OVERVIEW

Metro 1 Commercial exclusively presents for sale the property located at 230 NW 71 Street, Miami, FL (“The Property”). Located in Little River/Little Haiti—recently named the “coolest neighborhood in Miami” by Time Out Magazine—the area is rapidly transforming from industrial to creative office, retail, restaurants, breweries, showrooms, and other cultural uses. It is home to Miami’s best restaurant, Sunny’s Steakhouse; top entertainment venue, ZeyZey; the U.S.’s largest padel club, Ultra Padel; Michelin-starred Boia De; Bib Gourmand restaurant La Natural; plus Citadel Food Hall, Magic 13 Brewing, Imperial Moto Cafe, Fooq’s, Magie, Tran An, Raw Fit, Mid’s Market, Counter Culture Coffee, Eliou, Ogawa, Bar Bucce, Fiorito, and 727 Pilates, among others. Several large-scale projects are underway, including the 349-unit Sixty Uptown at Magic City Innovation District, AJ Capital’s 27-acre mixed-use development, Cedar Street’s 191-unit project, Swerdlow’s mega development, Yakol’s HOUSE by Shigeru Ban, and Midtown Capital’s 348-unit project. Additionally, directly across the street, AJ Capital acquired the entire city block and is planning to reposition its existing buildings in the short term. These units have been carefully renovated to cater to innovative and modern businesses that require creative spaces within an ecosystem staged for collaboration and creativity. The spaces average net rents of ~$43 PSF NNN, with the potential to achieve market rents of about $45-$55 PSF NNN by simply rolling over rents to market, while the area continues to develop and appreciate. The building is perfectly zoned as T5-O, which allows for an ample range of innovative and industrial businesses, as well as 5 stories of development potential.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$604 USD /SF

CAP RATE

7.07%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

UTILITIES

Water - City

CLEAR CEILING HT

14 Ft

DOCKS

-

DRIVE INS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.28

LAND SF

12,197

ZONING

T 5-0

APN/PARCEL ID

01-3113-023-0020

ASK ABOUT THIS PROPERTY

Andres NavaMetro 1 CommercialMore Info
786-690-7500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Andres NavaMetro 1 CommercialMore Info
786-690-7500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.