Miami Industrial Redevelopment Property with Strong Income
Description
This Miami industrial redevelopment property offers both reliable income and significant future upside. Located in the Palmer Lake Metropolitan Urban Center (PLMUC), the site combines a strong short-term lease with long-term potential for mixed-use transformation — an ideal blend for investors seeking cash flow today and redevelopment opportunities tomorrow.
- Versatile Industrial Asset: Positioned in a prime Miami corridor, this warehouse offers flexibility for owner/users or developers targeting future growth.
- Attractive Short-Term Lease: Currently leased to Elite Collision Specialists, generating immediate income with two years remaining on the term.
- Exceptional Zoning: PLMUC zoning supports multifamily, mixed-use, and high-density commercial redevelopment.
- Strategic Location: Near Miami International Airport and key transit hubs, with access to major projects such as Miami Freedom Park.
- Flexible Exit Strategy: Continue current industrial use for stable returns or redevelop to meet Miami’s surging housing and mixed-use demand.
About the Location
- Situated in Miami, FL, this property is in the highly sought-after Palmer Lake Metropolitan Urban Center, an area rapidly evolving through infrastructure upgrades and large-scale investments.
- Urban Center Growth: The neighborhood is transforming with new residential towers, retail expansions, and modern commercial projects.
- Proximity to Miami International Airport: Just minutes from one of Florida’s busiest logistics and business hubs.
- Prime Redevelopment Opportunity: Zoning permits high-density development, offering potential for substantial appreciation and project flexibility.
- Surrounded by Major Developments: Close to Miami Freedom Park, luxury multifamily projects, and emerging retail corridors.
- Excellent Accessibility: Quick connections to I-95, US-27, and Miami’s public transit system make it ideal for logistics, business, and redevelopment uses.
Address
Overview
- Property ID 14298
- Price $6,500,000
- Property Type Business, Development opportunities, Industrial, Office, Retail, Warehouse
- Property status For sale
- Year Built 2002
- Size 14,255 SqFt
- Investment Type Owner/User
- Investment Sub Type Redevelopment Potential
- Class C
- Lease Type NN
- Tenancy Single
- Lease Term 3 years
- Lease Commencement 01/01/2025
- Lease Expiration 12/31/2027
- Remaining Term 2 years
- Net Rentable (SqFt) 14,255
- Cap Rate 4.73%
- Pro-Forma Cap Rate 6.50%
- Occupancy 100%
- NOI $307,767
- Pro-Forma NOI $422,500
- Buildings 1
- Stories 1
- Zoning PLMUC
- Lot Size (acres) 0.88
- Lease Options None
- Ownership Fee Simple
