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The Parts House 3035 NW 40th St 10,500 SF Industrial Building Miami, FL 33142 $3,100,000 ($295.24/SF) 5.81% Cap Rate
Investment Highlights
- Rare 10,500 SF Miami Net Leased Industrial Investment Property Located Just East of Miami Airport
- TPH is a Wholly Owned Subsidiary of Marubeni Corporation, a Japanese Company with Market Capitalization of $60 Billion
- Building Located on NW 40th Street Just West of NW 27th Avenue and East of Miami International Airport
- The Parts House Tenant is a 200 Location National Auto Parts Dealer With Recently Extended 5 Year Base Term
- Ideal Net Lease Structure with No Landlord Responsibilities and Aggressive 3% Annual Base Rental Increases
Property Facts
| Price | $3,100,000 | Rentable Building Area | 10,500 SF |
| Price Per SF | $295.24 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1966 |
| Cap Rate | 5.81% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 1.43/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 16’ |
| Building Class | C | No. Dock-High Doors/Loading | 1 |
| Lot Size | 0.41 AC | No. Drive In / Grade-Level Doors | 1 |
| Zoning | IU-1 - Industrial | ||
| Price | $3,100,000 |
| Price Per SF | $295.24 |
| Sale Type | Investment |
| Cap Rate | 5.81% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.41 AC |
| Rentable Building Area | 10,500 SF |
| No. Stories | 1 |
| Year Built | 1966 |
| Tenancy | Single |
| Parking Ratio | 1.43/1,000 SF |
| Clear Ceiling Height | 16’ |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | IU-1 - Industrial |
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Wholesaler
- -
- $10.50
- Industrial Gross
- Feb 2031
The Parts House, “TPH” is one of the largest warehouse distributors of high quality automotive parts in the Southeastern United States and Caribbean, operating facilities in Florida, Georgia and Puerto Rico. The company was founded in 1970 and has evolved over the years through four changes in ownership. In 2002 the long-standing management team formed a partnership (TPH Acquisition, LLLP) to purchase the assets of the company. TPH has recently made some strategic acquisitions of distributors within Florida that serve both the heavy duty and professional installer markets. In both cases these key additions allow the company to continue its quest to improve service and availability to key customers.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Wholesaler | - | $10.50 | Industrial Gross | Feb 2031 |
Property Taxes
| Parcel Number | 30-3121-000-1390 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,210,810 |
Property Taxes
Presented by
The Parts House | 3035 NW 40th St
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