For Sale
$2,000,000

2692 Palm AveHialeah, FL 33010

High-yield multi-tenant warehouse, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
113
This Hialeah, FL warehouse offers a compelling investment opportunity. Located at 2692 Palm Ave, this 3,434 square foot property sits on an 8,750 square foot lot zoned C2, providing excellent visibility. The building, constructed in 1953 with renovations in 2007, comprises one single-story structure housing four tenants under month-to-month leases. The current NOI is $109,549, yielding a 5.48% cap rate, with a pro-forma NOI of $118,563 and a pro-forma cap rate of 5.93%. The property features a mix of uses including a restaurant and three warehouses with mezzanine storage. Each unit includes 6 parking spaces. The asking price is $2,000,000, representing $582.41 per square foot and $500,000 per unit. The land value is $228 per square foot. Valuable licenses for various businesses are included in the sale. This turnkey investment presents a strong value-add opportunity with significant upside potential. The property has recently undergone 40-year recertifications.

Highlights

  • $2,000,000 asking price for this Hialeah, FL industrial property.
  • 3,434 square foot warehouse on an 8,750 square foot lot.
  • 100% occupancy with four tenants on month-to-month leases.
  • 5.48% cap rate, 5.93% pro-forma cap rate, with a $109,549 NOI and $118,563 pro-forma NOI.
  • C-2 zoning, built in 1953 with renovations in 2007.
  • $582.41 price per square foot, $228 per square foot land value.

Property Details for 2692 Palm Ave

Property type
Warehouses, Industrial properties
Square Feet
3,434 SF
Class
C
Year Built/Renovated
1953/2007
Buildings
1
Stories
1
Units
4

Location Insight

City
Hialeah
County
Miami-Dade
State
Florida
Latitude
25.846529801201
Longitude
-80.28239559994
2692 Palm Ave, Hialeah, Florida

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2692 Palm Ave
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