500 NE 185th ST
Multi-Tenant Freezer Cooler Facility For Sale | 500 NE 185th ST
Marketing description
Situated on ±2.87 acres, the Property features a unique multi-tenant configuration with 22 individual 1,000 SF convertible freezer cooler chambers (some of which have been combined). The facility offers 22 dock-high loading positions, 15-foot clear heights within the bays, heavy power, and a fully fenced and secured site. The site also includes a highly valuable, distinct 27,443 square foot lot (East Parcel) currently utilized for truck parking. This parcel presents an immediate revenue-generating opportunity to increase parking density, develop a secondary facility, or formalize a lease. Most recently, ownership received a $13,000 per month triple-net offer for this lot alone, demonstrating immediate, unrealized upside.
Investment highlights
South Florida Industrial Group of Cushman & Wakefield, acting as exclusive advisor, is pleased to offer for sale 500 NE 185th Street (the “Property”), a highly functional ±32,128 SF multi-bay cold storage facility located in the established North Miami industrial submarket. Ideally positioned as an established, cash-flowing investment, the Property offers the physical security of a newly renovated facility combined with the aggressive income potential of a value-add asset.
Originally constructed in 1981 and acquired by current ownership in 2021, the Property has since undergone over $2.0 million in comprehensive capital improvements. Recent capital improvements include new insulated metal panel ceilings and walls, state-of-the-art convertible freezer-cooler split systems, bay doors, new paint and paving, among numerous other enhancements. These improvements significantly reduce near-term capital expenditure requirements and enhance operational efficiency for tenants, allowing investors to focus immediately on driving revenue.
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