280-282 NE 60th St
Miami, FL 33137
280 Magic · Industrial Property For Sale

Colliers International Urban Core Division is pleased to present the opportunity to acquire a 7,898 sqft prime warehouse situated directly in front of The Magic City Development. Ideal for any creative studio. '18 clear ceilings, with four bays allows an investor to generate a return while waiting for the development to occur. Also great for an owner user. The area has many owner users from various creative and business industries. Covered Land This existing warehouse includes 18-foot ceilings and is in great condition. The property is currently producing income and has the potential to increase. The centrally located industrial location is valuable, also the area has a resurgence of creative spaces. Location Little River is quickly transforming into a creative urban neighborhood while preserving it’s history and culture. 280 Magic is one of the few remaining parcels for purchase in the area. This property offers the opportunity to be a part of the future live-work-play community. Magic City Innovation District is going to bring thousands of residents, thousands of daily workers in the massive office complex, and thousands of visitors. Development Potential The property has already benefited by becoming a corner lot in the future based upon the new MCID Special Area Plan, directly facing “Les Residences,” the residential portion of the development. The property is currently zoned D1, allowing for 100,000 SF of development. Miami 21 zoning allows properties Abutting SAP plans to apply for a rezoning, potentially allowing for even greater development. Tax Incentives 280 Magic is located in a newly created Opportunity Zone which has significant and potentially huge tax advantages under the new tax law. The program allows investors to defer paying capital gains taxes until 2026 if they reinvest in Opportunity Zone projects, and investors can permanently forgo paying capital gains taxes on the sale or exchange of their investments in Opportunity Zones if they hold the investment for at least 10 years.