Warehouse

2099 NW 141st St

2099 NW 141st St, Opa-locka, FL 33054

Listing Price: $4,700,000

Cap Rate
5.60%
Gross SF
42,502
Price/Gross SF
$110.58
Lot Size
2.04 acres
Year Built
1987
Rentable SF
42,502

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale 141st Street Small Bay Warehouse, located at 2099 NW 141st ST (the Property) a 42,500-square-foot small bay warehouse property situated on 2.04 acres in Miami, Florida. The property is comprised of true small-bay warehouse spaces consisting of 34 perfectly configured 1,250 square-foot units operating at 100% Occupancy. The Propertys auto use is an ideal option for the local market due to its high demand and difficult to obtain use which creates exception leverage for the landlord knowing the tenants have few options. The property which has been self-managed for over 30 years has leases that are more than 40% below the market. All tenants are also under a month to monthly agreements which allows a new owner to significantly add value from day one of ownership.

The subject property is centrally located just off the Golden Glades interchange which merges the major roadways in South Florida including Interstate-95, the Palmetto Expressway, and The Florida Turnpike making the Property an exceptional location for local business as an accessible outlet throughout Miami Dade. The Subject Property is just off of NW 22nd Avenue, a high traffic north-south corridor spanning from the Palmetto Expressway to the north and Route 9 to the south.

The configuration of small easy to rent spaces, significant upside in rental rates and month to month agreements allows for immediate upside to a new owner creating well above market returns when stabilized. Stabilizing should occur in a short time as the market demand is high for this space and the fundamentals of the overall market are excellent with low vacancy rates and no risk of future development ensuring a strong and steady demand to drive rents from day one.

Investment Highlights

  • Immediate Value Add as All Leases are Month to Month
  • Excellent Market Fundamentals with Low Vacancy Rates and No Future Development Risk
  • Ideal Small-Bay configuration with 34 Bays of 1,250 Square Feet
  • Exceptional Local Market Fundamentals with Under 3.0 Percent Current Vacancy Rate
  • Current Leases over 40% Below Market
  • Exceptional Central Miami Location near Golden Glades Interchange

Exclusively Listed By

Listing Price: $4,700,000

Cap Rate
5.60%
Gross SF
42,502
Price/Gross SF
$110.58
Lot Size
2.04 acres
Year Built
1987
Rentable SF
42,502

Investment Highlights

  • Immediate Value Add as All Leases are Month to Month
  • Excellent Market Fundamentals with Low Vacancy Rates and No Future Development Risk
  • Ideal Small-Bay configuration with 34 Bays of 1,250 Square Feet
  • Exceptional Local Market Fundamentals with Under 3.0 Percent Current Vacancy Rate
  • Current Leases over 40% Below Market
  • Exceptional Central Miami Location near Golden Glades Interchange

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale 141st Street Small Bay Warehouse, located at 2099 NW 141st ST (the Property) a 42,500-square-foot small bay warehouse property situated on 2.04 acres in Miami, Florida. The property is comprised of true small-bay warehouse spaces consisting of 34 perfectly configured 1,250 square-foot units operating at 100% Occupancy. The Propertys auto use is an ideal option for the local market due to its high demand and difficult to obtain use which creates exception leverage for the landlord knowing the tenants have few options. The property which has been self-managed for over 30 years has leases that are more than 40% below the market. All tenants are also under a month to monthly agreements which allows a new owner to significantly add value from day one of ownership.

The subject property is centrally located just off the Golden Glades interchange which merges the major roadways in South Florida including Interstate-95, the Palmetto Expressway, and The Florida Turnpike making the Property an exceptional location for local business as an accessible outlet throughout Miami Dade. The Subject Property is just off of NW 22nd Avenue, a high traffic north-south corridor spanning from the Palmetto Expressway to the north and Route 9 to the south.

The configuration of small easy to rent spaces, significant upside in rental rates and month to month agreements allows for immediate upside to a new owner creating well above market returns when stabilized. Stabilizing should occur in a short time as the market demand is high for this space and the fundamentals of the overall market are excellent with low vacancy rates and no risk of future development ensuring a strong and steady demand to drive rents from day one.

Exclusively Listed By

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