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Gelfand Realty Miami Properties - Commercial

1365 NW 23RD ST, MIAMI, FL 33142

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Commercial -

1365 NW 23RD ST, MIAMI, FL 33142

Sold Price$4,850,000 Asking Price$4,950,000

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  • Days on market:

    101 day(s)
  • Original Price:

    $4,950,000
  • Tax Legal Description:

    WEST END PARK AMD PB 16-34 LOTS 8 TO 13 INC BLK 28 LOT SIZE 28110 SQUARE FEET OR 21324-3165 05 2003 1
  • Property Type:

    Commercial
  • Special Listing Conditions:

    Sale

Description

$4,950,000

Located on the north-side of the miami produce district this 14,538 sf industrial warehouse is presently used as a cold storage facility. the combination of its size, its cold storage set-up, and its last-mile location make it an extremely valuable real estate asset, cold storage facilities have become a national commodity within the commercial real estate sector. vacancy rates for properties in this asset class are at nearly zero percent. this property could certainly continue to prosper in its current demise and it also has the potential for creative adaptive reuse, or as a development site for the construction of new apartments. this area continues to attract top investors and a roster of dynamic and prospecting small businesses and tenants.

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