170 NW 24th STREET

For Sale$6,900,000

170 NW 24th St, Miami, FL 33127

  • Industrial
  • Flex - Industrial

170 NW 24th STREET, Miami, FL 33127 - Industrial Space

170 NW 24th STREET is located at 170 NW 24th St in the Wynwood neighborhood, FL, Miami, 33127. The Industrial building features a total of 6,000 Sqft.

There are 2 industrial spaces for lease in the Wynwood neighborhood, totaling 8,400 Sqft of available industrial space. The industrial space availability for the 33127 zip code is 20,125 Sqft, in 4 industrial spaces. The average asking industrial rent per sq. ft. in Wynwood is $30/sqft/year.

At zip code level, there are 19 commercial properties, of which 4 are industrial buildings over 50,000 square feet.

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Details

  • Price $6,900,000
  • City Miami
  • Neighborhood Wynwood
  • Zip Code 33127
  • Market Miami
  • Property Type Industrial - Flex - Industrial
  • Property Size 6,000 Sqft
  • Lot Size 0.24 Acre
  • Year Renovated 2018
  • Date Updated 23 Dec, 2020
  • Clear Height 1'2''

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.com.

Description

Wynwood's 170 NW 24 St is now available for purchase for the first time in a decade. The subject property is comprised of a 6,000 SF of building on a combined 10,500 SF of land. The two contiguous parcel offering includes both 170 NW 24 St & 165 NW 23 St, constituting a flow-through property with 50' of frontage on two of Wynwood's highly activated streets. In-place income from three fully entitled restaurant tenants, the largest and longest-running of which is at dramatically below market rental rate. The estimated 6.2% cap on a 3 year proforma is grounded in rental rates already being achieved in the Wynwood sub-market. Given both the lot size and building improvements, this opportunity presents multiple approaches for both investor & developer including a covered land play & maintaining a long term income producing property benefiting from near term market rate adjustments. All impact fees have been paid. Tenant's are separately metered for both electric and water. Property is connected to a 12" water main. Major upgrades to electric service and plumbing have been recently completed. 14' ceilings, Twin-T construction. 40 year re-certification completed in 2019. Located adjacent to 1-800-Lucky, one half block east of Panther Coffee & directly across the street from the site of PMG's X Wynwood. This property is truly in the geographical center of Wynwood's Neighborhood Revitalization District. Zoned T5-O/NRD-1

FREQUENTLY ASKED QUESTIONS

What is the lease rate for 170 NW 24th STREET?

Rental asking rate at 170 NW 24th STREET is Subject To Offer per square foot.

What is the total square footage of 170 NW 24th STREET?

170 NW 24th STREET totals 6,000 square feet.

Wynwood Demographics

The average household income in zip code 33127 is $40,728, from a total of 10,207 households. In terms of employment, there are 71.66 % white-collar and 28.34 % blue-collar jobs in zip code 33127.

Population

  • Total Population7,111
  • Male Population(47.5 %) 3,378
  • Female Population(52.5 %) 3,733
  • Median Age36.00

Income/Financial

  • Average Household Income$40,398
  • Median Household Income$28,484
  • Median Income Under 25$30,770
  • Median Income 25-44$32,053
  • Median Income 45-64$29,710
  • Median Income Over 65$16,636

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Ari Dispenza

Central Commercial Real Estate

(786) 577-4974

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