1677 31St PlHialeah, FL 33012

Property Details for 1677 31St Pl

Year built

1965

Property size (Sq ft)

16,100 SF

Zone code

7100:INDUSTRIAL,LIGHT MFG

Property type

Manufacturing properties

APN

04-3011-038-0020

APU

430110380020

Description

This Hialeah, Florida warehouse presents a compelling investment opportunity. Located at 1677 W 31st Pl, 33012, this 16,100 square foot Class C industrial property boasts a 100% occupancy rate with a credit-rated single tenant operating for over 20 years. The property features three grade-level doors and one dock-high door, with an 18-foot ceiling height. Built in 1965 and renovated five years ago, the building sits on a 30,000 square foot lot. The current net lease is NNN, with a rent of $10 per square foot, increasing to $12 per square foot in December. The lease, with two options, expires January 1, 2024, providing immediate income and future growth potential. The property recently passed its 40-year recertification. The current Net Operating Income (NOI) is $161,000, representing a 4.24% cap rate at the asking price of $3,800,000 ($236.02 per square foot). The property is strategically located near the 826 highway, offering excellent accessibility. The property can be delivered vacant. This is a rare opportunity to acquire a stable, high-performing industrial asset with significant upside potential.

Location Insight

City

Hialeah

County

Miami-dade

State

Florida

Latitude

25.8505

Longitude

-80.3154

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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