280 60Th StMiami, FL 33137

Property Details for 280 60Th St

Year built

1973

Construction

CONCRETE

Lot size

0.29 AC

Property size (Sq ft)

7,938 SF

Zone code

7000:INDUSTRIAL,GENERAL

Property type

Manufacturing properties

APN

01-3218-016-0080

APU

132180160080

Description

This 7,898 sq ft Miami warehouse, built in 1973, offers significant value-add potential. Located in a D1 Mixed Use zone, it features 18' ceilings and is situated near the Magic City Innovation District. The property consists of one single-story building with four units, currently leased at below-market rates, presenting a strong opportunity for lease-up or redevelopment. The asking price is $3,500,000, representing a $443.15/sq ft price and a 6.7% cap rate based on pro forma rents of $30/sq ft NNN. The land value alone is $215/sq ft. Significant redevelopment potential exists, allowing for up to 80,000 buildable square feet and up to eight stories. The property is ideal for an owner-user, investor seeking lease-up income, or a developer looking for a value-add opportunity. Current rents are below market, offering immediate upside. The property is a Net Lease (NNN) investment. The location benefits from proximity to major transportation arteries and the burgeoning Magic City Innovation District. This is a prime opportunity to capitalize on the growth of Miami's Little Haiti neighborhood.

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.8312

Longitude

-80.1903

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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