280-282 NE 60th St
Miami, FL 33137
4-Bay Warehouse Redev or Value Add Potential · Industrial Property For Sale

The 4-bay warehouse is perfect for an owner-user who could close and take fully possession immediately. Opportunity Zone. Opportunity to achieve an existing 4.8% cap rate in Miami, FL next to the Magic City Innovation District. All 4 bays now rented producing $240,000/NNN in annual rents. At $5 mm that is a 4.8% cap rate. Douglas Elliman Real Estate, as exclusive listing agent, is pleased to offer this 4 Bay Miami, FL, D1-Zoned Industrial Warehouse with 18’ ceilings for Sale across from Magic City Innovation District and Opportunity Zone. Building is 7,898 SF. Please see attached OM and e-mail listing agent for current details and rents. If seeking to redevelop, from the ground up, this opportunity allows one to build up to 8 stories, 80,000 buildable SF, excluding parking, and add up to 10 work-live units above parking and industrial uses. As a value add play, add to the existing single-story industrial property either 10 additional “work-live” units or add up to an additional 7,588 buildable SF of Industrial space or ”work-live” space, and still conform to the parking requirements. There are an existing 16 parking spaces. Per the Seller, for more parking, if the fence were moved out to the closest set-back to NE 60th Street, the additional parking gained may increase the development potential in a value-add play. See the attached Offering Memorandum for details. D1 Zoning allows by right the development and uses such as: Work-Live, BnB / Inn, Office, Auto-related commercial, Entertainment or Food Service establishment, General or Marine Related Commercial, Open Air Retail, Recreational, Civic, Research Facility, Special Training/Vocational, and all Industrial Uses.