Nickey Gregory Company Miami, Florida

$4,500,000
Closed Single-Tenant
Property type: Single-Tenant Net Lease

The space

  • Price: $4,500,000
  • Rentable SF: 23,314
  • Annual Rent: $278,568
  • Price PSF: $193.02
  • Land Area: 1.11 Acres
  • Year Built: 1967
  • Lease Type: NNN
  • Lease Term: 5 Years
  • Option Periods: 2, 5-Year Options
  • Rental Increases: 3% Annually
  • Lease Expiration: 11/30/2022

Description

1930 NW 23rd Street
Miami, FL 33142

Marcus & Millichap is proud to present Nickey Gregory Company, a two-story industrial building located in Miami, Florida. This building is free-standing and consists of 23,314 SF of industrial space including 4,000 SF of office space. The property is located in the Allapattah submarket, which has seen a lot of demand for industrial space in recent years. This area has a strong industrial market due to its facilitated access to major roadways such as the Dolphin Expressway and Interstate 95. The building is just East of the Miami International Airport.

Nickey Gregory Company has been well maintained and provides curb appeal, ample parking and excellent visibility. 75% of the warehouse is refrigerated under the latest FDA guidelines and the building is set back to accommodate 40-foot trucks. The building is 100% occupied by Nickey Gregory, which is a well-established premium produce provider in the Southeast United States. The tenant is currently on a triple net lease with five years remaining. This asset is extremely easy to manage and is ideal for any investor given the location, convenience and overall condition of the property.

Allapattah in Miami, Florida is in high demand due to its high intensity/ high-density zoning, direct rail access, multiple public transportation options and proximity to the hippest areas undergoing massive transformations.  The subject property’s location is exceptionally positioned near Wynwood, the Design District, Health District and the Port of Miami.

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