230 NW 71st St 6,620 SF 82% Leased Industrial Building Miami, FL 33150 $4,000,000 ($604.23/SF) 7.07% Cap Rate

Metro 1 Commercial exclusively presents for sale the property located at 230 NW 71 Street, Miami, FL (“The Property”).
Located in Little River/Little Haiti—recently named the “coolest neighborhood in Miami” by Time Out Magazine—the area is rapidly transforming from industrial to creative office, retail, restaurants, breweries, showrooms, and other cultural uses. It is home to Miami’s best restaurant, Sunny’s Steakhouse; top entertainment venue, ZeyZey; the U.S.’s largest padel club, Ultra Padel; Michelin-starred Boia De; Bib Gourmand restaurant La Natural; plus Citadel Food Hall, Magic 13 Brewing, Imperial Moto Cafe, Fooq’s, Magie, Tran An, Raw Fit, Mid’s Market, Counter Culture Coffee, Eliou, Ogawa, Bar Bucce, Fiorito, and 727 Pilates, among others.
Several large-scale projects are underway, including the 349-unit Sixty Uptown at Magic City Innovation District, AJ Capital’s 27-acre mixed-use development, Cedar Street’s 191-unit project, Swerdlow’s mega development, Yakol’s HOUSE by Shigeru Ban, and Midtown Capital’s 348-unit project.
Additionally, directly across the street, AJ Capital acquired the entire city block and is planning to reposition its existing buildings in the short term.
These units have been carefully renovated to cater to innovative and modern businesses that require creative spaces within an ecosystem staged for collaboration and creativity. The spaces average net rents of ~$43 PSF NNN, with the potential to achieve market rents of about $45-$55 PSF NNN by simply rolling over rents to market, while the area continues to develop and appreciate.
The building is perfectly zoned as T5-O, which allows for an ample range of innovative and industrial businesses, as well as 5 stories of development potential.