Warehouse

3580 NW 52nd Street

3580 NW 52nd St, Miami, FL 33142

Listing Price: $3,400,000

Cap Rate
6.18%
Gross SF
30,644
Price/Gross SF
$110.95
Lot Size
0.88 acres
Year Built
1955
Rentable SF
30,644

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale 3580 NW 52nd Street located at 3580-3596 NW 52nd Street, Miami Florida (the Property), a 31,000-square-foot multi-bay industrial warehouse in central Miami, Florida. The property is currently 100% occupied by 4 tenants and has the advantageous approval for auto repair. This heavy industrial use has become significantly rarer within Miami, creating an increased demand for properties from tenants in this industry. The Subject Property is an extremely well-maintained concrete block warehouse with extra-large front access loading doors and stands out among competing properties as best in class. There was also a brand-new roof installed in 2020. Despite being fully leased, the Property offers a new owner to continue operations with built in rental increase while also offering upside as about 31% of the GLA is well below market.

The Property is extremely well located in central Miami Dade and falls within an Opportunity Zone. 3580 NW 52nd Street sits less than 5 minutes from the Miami International Airport and in close proximity to all major roadways including 10 minutes from I-95. Minutes from the Okeechobee Train Station, the Port of Miami and other major submarkets creating an easy commute for tenants and businesses throughout the county.

The configuration of the warehouse spaces, best-in-class product and strong local market has provided a steady demand for the property from tenants. Vacancy, in the immediate area, has dramatically decreased over the last decade. The local vacancy rate was recently reported at 3.5% as of Q3 2020 with no future pipeline of warehouse construction to deliver more product. The makeup of both the local market, rare auto body approval and increasing demand for warehouse space provides a reliable and steady cash flow for a new owner which should continue to outperform and grow over time and continue its trend as the preferred real estate asset to own.

Investment Highlights

  • Best-In-Class, Multi-Bay Miami Warehouse Facility
  • Rare Auto Repair Use-Increases Demand from Tenants Across This Sector
  • Impeccably Maintained Asset with Brand New Roof Installed in 2020
  • Opportunity Zone, Infill Site within Central Miami Dade
  • Excellent Location Near Miami International Airport and other Major Roadways
  • Exceptional Local Market Fundamentals with 3.5% Vacancy Rate in Q3 2020

Exclusively Listed By

Listing Price: $3,400,000

Cap Rate
6.18%
Gross SF
30,644
Price/Gross SF
$110.95
Lot Size
0.88 acres
Year Built
1955
Rentable SF
30,644

Investment Highlights

  • Best-In-Class, Multi-Bay Miami Warehouse Facility
  • Rare Auto Repair Use-Increases Demand from Tenants Across This Sector
  • Impeccably Maintained Asset with Brand New Roof Installed in 2020
  • Opportunity Zone, Infill Site within Central Miami Dade
  • Excellent Location Near Miami International Airport and other Major Roadways
  • Exceptional Local Market Fundamentals with 3.5% Vacancy Rate in Q3 2020

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale 3580 NW 52nd Street located at 3580-3596 NW 52nd Street, Miami Florida (the Property), a 31,000-square-foot multi-bay industrial warehouse in central Miami, Florida. The property is currently 100% occupied by 4 tenants and has the advantageous approval for auto repair. This heavy industrial use has become significantly rarer within Miami, creating an increased demand for properties from tenants in this industry. The Subject Property is an extremely well-maintained concrete block warehouse with extra-large front access loading doors and stands out among competing properties as best in class. There was also a brand-new roof installed in 2020. Despite being fully leased, the Property offers a new owner to continue operations with built in rental increase while also offering upside as about 31% of the GLA is well below market.

The Property is extremely well located in central Miami Dade and falls within an Opportunity Zone. 3580 NW 52nd Street sits less than 5 minutes from the Miami International Airport and in close proximity to all major roadways including 10 minutes from I-95. Minutes from the Okeechobee Train Station, the Port of Miami and other major submarkets creating an easy commute for tenants and businesses throughout the county.

The configuration of the warehouse spaces, best-in-class product and strong local market has provided a steady demand for the property from tenants. Vacancy, in the immediate area, has dramatically decreased over the last decade. The local vacancy rate was recently reported at 3.5% as of Q3 2020 with no future pipeline of warehouse construction to deliver more product. The makeup of both the local market, rare auto body approval and increasing demand for warehouse space provides a reliable and steady cash flow for a new owner which should continue to outperform and grow over time and continue its trend as the preferred real estate asset to own.

Exclusively Listed By

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