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1031 NW 21st St 8,173 SF Industrial Building Miami, FL 33127 $4,850,000 ($593.42/SF) 5.79% Cap Rate
Investment Highlights
- Highly Permissive Zoning (D2 — Industrial) By-right uses include warehousing/distribution, manufacturing, showrooms, offices, research.
- Works for an owner-user sale, 1031 exchange buyers, or value-add investors.
- Dimensional allowances (0’ side/rear setbacks, 90% lot coverage, up to 8-story height, FAR 8.0) create meaningful redevelopment upside.
Executive Summary
Prime redevelopment opportunity at 1031 NW 21st St - a strategically located warehouse in Allapattah just a few blocks from the World famous Rubell Museum amid a surge of institutional and private investment. The neighborhood is experiencing substantial mixed-use and workforce housing activity driven by the Live Local Act; recent multistory residential and mixed-use entitlements and large refinancing transactions demonstrate strong demand. Ideal for an owner-user, conversion to residential or a higher-density Live Local redevelopment, or a value-add repositioning play. Close to transit corridors and major development nodes - rare land play. Recent activity - Live Local entitlements, refinancing and institutional interest for workforce sites - are driving land values higher and widening exit options.
Property Facts
| Price | $4,850,000 | Building Class | C |
| Price Per SF | $593.42 | Lot Size | 0.46 AC |
| Sale Type | Investment or Owner User | Rentable Building Area | 8,173 SF |
| Cap Rate | 5.79% | No. Stories | 1 |
| Sale Condition | 1031 Exchange | Year Built | 1957 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | ||
| Zoning | D2 - Industrial | ||
| Price | $4,850,000 |
| Price Per SF | $593.42 |
| Sale Type | Investment or Owner User |
| Cap Rate | 5.79% |
| Sale Condition | 1031 Exchange |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.46 AC |
| Rentable Building Area | 8,173 SF |
| No. Stories | 1 |
| Year Built | 1957 |
| Tenancy | Single |
| Zoning | D2 - Industrial |
Amenities
- Fenced Lot
Walk Score®
Very Walkable (82)
Property Taxes
| Parcel Number | 01-3126-054-0010 | Improvements Assessment | $308,600 |
| Land Assessment | $1,590,400 | Total Assessment | $1,899,000 |
Property Taxes
Parcel Number
01-3126-054-0010
Land Assessment
$1,590,400
Improvements Assessment
$308,600
Total Assessment
$1,899,000
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1031 NW 21st St
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