Milam Warehouse Condos Investment Package

AVAILABLE FOR SALE7255-7309 NW 12TH STREET | MIAMI FL 33126

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INTRODUCTIONabout metro 1...................................................1

PROPERTY OVERVIEWthe building.......................................................2executive summary..........................................3market overview...............................................5map.....................................................................7floorplans...........................................................8financials............................................................11traffic map.........................................................15

table of contents

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confidentiality disclosure

THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your own limited use to determine whether you wish to express any further interest in the property.

This confidential memorandum contains brief, selected information pertaining to the business and affairs of the property and has been prepared by Metro 1 Commercial, LLC, primarily from information supplied by the owner. Although this confidential memorandum has been reviewed by representatives of the owner, it does not propose to be all-inclusive, nor does it contain all the information which a prospective purchaser may require or desire.

Neither the Owner, nor any of its officers, directors, employees or agents, nor Metro 1 Commercial, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents, and no legal liability is assumed or is to be implied by any of the aforementioned with respect thereto.

Prospective offerors are advised to verify the information independently. The owner reserves the right to change the price or any information in this memorandum, or to withdraw the property from the market at anytime, without notice.

This confidential memorandum shall not be deemed an indication of the state of affairs of the property or of the owner, nor shall it constitute an indication that there has been no change in the business or affairs of the property or the owner since the date of preparation of this memorandum.

By your receipt of this confidential memorandum, you agree that the information contained herein is of a confidential nature and you will not disclose this memorandum or any part of the contents to any other person, firm or entity without prior authorization from Metro 1 Commercial, LLC.

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metro1 commercialReal Estate Solutions For The Urban Lifestyle

Metro 1 Commercial, LLC a subsidiary of Metro 1, is South Florida’s only niche commercial real estate brokerage and advisory firm that specializes in serving the region’s urban core neighborhoods, including Miami’s Greater Downtown Area and Miami Beach. Metro 1 Commercial offers comprehensive brokerage and advisory services, as well as project marketing and development services for infill land, retail, office, hospitality and mixed-use projects situated in Miami’s urban core neighborhoods.

SERVICES• Land Sales and Development• Landlord and Tenant Representation Services• Office, Industrial, Retail and Hospitality Brokerage

• Investment Sales• Asset Management• Advisory & Consulting

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the building

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executive summary7255-7309 nw 12th street | miami fl 33126

7255-7309 NW 12th Street is located on a main East & West arterial road with ingress and egress to the Palmetto Expressway, Dolphin Expressway and Milam Diary Road. The property is located adjacent to the Miami Airport runway and in the geographic area known as the Airport West market.

The property consists of a cluster of small flex/warehouse spaces for businesses servicing the airport market, especially companies involved in international trade and construction industries. These flex/warehouses are ideal for electronics, medical, auto parts, construction and other small suppliers.

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executive summary7255-7309 nw 12th street | miami fl 33126

Address 7255-‐7309 NW 12th Street, Miami FL 33126Property Type Condominium – CommercialNumber of Units 21 Unit Sizes 938 SF – 1103 SFProperty Size 21,736 SFYear Built 1978Parking 42Construction Type CBSZoning I-‐U1 – Light IndustrialAsking Price $2,600,000 Current Occupancy 76%

Investment Overview

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market overview7255-7309 nw 12th street | miami fl 33126

MARKET OVERVIEW

Today, the current outlook for South Florida’s industrial market is positive despite stalling somewhat during the economic recession. Confidence is returning to the market. In general, prices for warehouses are on the rise and vacancies rates have decreased. New development projects have been announced, with over half a million square feet of new projects scheduled to break ground this year. The Port of Miami’s new infrastructure projects slated to be completed by 2014—in time for the Panama Canal Expansion— are expected to double Miami’s cargo business over the next decade.

Airport West has buildings that were built in the 70s and 80s, with ceiling heights of 18-22 feet high. Warehouses size range between 1,000 to 5,000 square feet, although some larger warehouses are found as you get closer to Florida East Coast Railway. Overhead doors on these buildings are mix of street level and dock high doors. The majority of the buildings in Airport West are B and C class. Many of the businesses in this area are small (10-15 employees) and are in involved in construction related distribution. Along 72nd Ave small flex spaces and retail stores are also common.

The main economic drivers of Airport West are growing cargo volumes from the Miami Airport, trucking, construction, as well the growth of small businesses.

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market overview7255-7309 nw 12th street | miami fl 33126

SR 836/SR 826 INTERCHANGE RECONSTRUCTIONTHE PROJECT BENEFITS INCLUDE:

• Construction of new connections between S.R. 826 and S.R. 836 in all directions allowing motorists direct access and reducing travel times

• Construction of a new direct connection from northbound S.R. 826 to westbound S.R. 836

• Construction of connector ramps and frontage roads for local traffic movements eliminating the need to use mainline S.R. 826 and S.R. 836

• New at-grade reconstruction of Milam Dairy Road, and construction of entrance/exit ramps, enhancing access to/from S.R. 836.

• Installation of Intelligent Transportation Systems (ITS) cameras and sensors allowing for real-time traffic updates, as well as assisting in the rapid deployment of first responders and Road Rangers to clear disabled and accident vehicles from travel lanes

• Reconstruction of NW 11 Street from NW 72 Avenue with a connection to Milam Dairy Road• Installation of new signalization, lighting and landscaping • Reconstruction of NW 12 Street beneath S.R. 8

The main economic drivers of Airport West are growing cargo volumes from the Miami Airport, trucking, construction, as well the growth of small businesses.

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map7255-7309 nw 12th street | miami fl 33126

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floorplan7255-7309 nw 12th street | miami fl 33126

Typical Unit

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Typical Unit

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Typical Unit

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rent roll7255-7309 nw 12th street | miami fl 33126

Address Size/SF Folio Tenant ExpirationCurrent Gross Monthly Rent

Asking Sale Price

Asking Monthly Rent (plus sales tax) Condo Fees

7255 NW 12th St, Miami, FL 33126. 1,103 3030350130030 Latin Bikers Corp. 12/31/12 $900 $132,374 $1,011 $1707257 NW 12th St, Miami, FL 33126. 1,047 3030350130040 Florencia Caiani 2/28/12 $800 $125,603 $959 $1707259 NW 12th St, Miami, FL 33126. 1,047 3030350130050 Cooper Communications 6/1/12 $1,000 $125,603 $959 $1707261 NW 12th St, Miami, FL 33126. 1,047 3030350130060 D&B Temp Staffing 2/28/12 $900 $125,603 $959 $1707263 NW 12th St, Miami, FL 33126. 1,047 3030350130070 Eathel Rodas 5/1/12 $850 $125,603 $959 $1707265 NW 12th St, Miami, FL 33126 1,047 3030350130080 VACANT $125,603 $959 $1707267 NW 12th St, Miami, FL 33126. 1,047 3030350130090 Elizabeth Flowers 8/31/12 $1,000 $125,603 $959 $1707269 NW 12th St, Miami, FL 33126 1,047 3030350130100 Pharmabrand $1,100 $125,603 $959 $1707271 NW 12th St, Miami, FL 33126 938 3030350130110 A&W Borders, LLC 2/1/12 $900 $112,609 $860 $1577273 NW 12th St, Miami, FL 33126. 938 3030350130120 VACANT $112,609 $860 $1577275 NW 12th St, Miami, FL 33126. 1,076 3030350130130 LHS Del Peru, Inc. 8/31/12 $800 $129,120 $986 $1707281 NW 12th St, Miami, FL 33126. 1,103 3030350130160 Ministerio Casa de 12/31/12 $900 $132,316 $1,011 $1707283 NW 12th St, Miami, FL 33126. 1,103 3030350130170 Ministerio Casa de 12/31/12 $900 $132,316 $1,011 $1707285 NW 12th St, Miami, FL 33126. 1,103 3030350130180 VACANT $132,316 $1,011 $1707289 NW 12th St, Miami, FL 33126. 1,103 3030350130200 Stone of Carribbean 12/15/12 $1,070 $132,316 $1,011 $1707293 NW 12th St, Miami, FL 33126. 1,034 3030350130220 Florida Crane 4/1/12 $900 $124,135 $948 $1707295 NW 12th St, Miami, FL 33126. 938 3030350130230 Erwin Chavez * William 8/31/12 $1,000 $112,609 $860 $1577303 NW 12th St, Miami, FL 33126. 938 3030350130270 Internation Food 9/30/12 $930 $112,609 $860 $1577305 NW 12th St, Miami, FL 33126. 1,047 3030350130280 Jose Acosta 6/30/13 $959 $125,603 $959 $1707307 NW 12th St, Miami, FL 33126. 938 3030350130290 VACANT $112,609 $860 $1577309 NW 12th St, Miami, FL 33126. 1,047 3030350130300 VACANT $125,603 $959 $170

21,736 $14,909 $2,608,363 $19,925 $3,505

Yearly Gross $178,908Taxes $45,685Condo fees $42,060NOI $91,163

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proforma7255-7309 nw 12th street | miami fl 33126

2012 2013 2014 2015 2016Latin Bikers $10,800 $11,124 $11,458 $11,801 $12,155Florencia Caiani $9,600 $9,888 $10,185 $10,490 $10,805Cooper Comm $12,000 $12,360 $12,731 $13,113 $13,506D&B Temp Staffing $10,800 $11,124 $11,458 $11,801 $12,155Eathel Rodas $10,200 $10,506 $10,821 $11,146 $11,480Elizabeth Flowers $12,000 $12,360 $12,731 $13,113 $13,506Pharmabrand $13,200 $13,596 $14,004 $14,424 $14,857A&W Borders, LLC $10,800 $11,124 $11,458 $11,801 $12,155LHS Del Peru $9,600 $9,888 $10,185 $10,490 $10,805Ministerio Casa de $10,800 $11,124 $11,458 $11,801 $12,155Ministerio Casa de $10,800 $11,124 $11,458 $11,801 $12,155Stone of Carribbean $12,840 $13,225 $13,622 $14,031 $14,452Florida Crane $10,800 $11,124 $11,458 $11,801 $12,155Erwin Chavez $12,000 $12,360 $12,731 $13,113 $13,506International Food $11,160 $11,495 $11,840 $12,195 $12,561Vacant $55,803 $57,477 $59,201 $60,977 $62,807Alfredo $11,517 $11,863 $12,218 $12,585 $12,962POTENTIAL RENTAL INCOME $234,720 $241,762 $249,014 $256,485 $264,179TOTAL POTENTIAL RENTAL INCOME $234,720 $241,762 $249,014 $256,485 $264,179General Vacancy @ 7% -$16,430 -$16,923 -$17,431 -$17,954 -$18,493EFFECTIVE RENTAL INCOME $218,290 $224,839 $231,583 $238,531 $245,686GROSS OPERATING INCOME $218,290 $224,839 $231,583 $238,531 $245,686Taxes -$45,685 -$46,599 -$47,531 -$48,481 -$49,451Condo/Insurance -$42,060 -$42,901 -$43,759 -$44,634 -$45,527Total Expenses -$87,745 -$89,500 -$91,290 -$93,116 -$94,978NET OPERATING INCOME $130,545 $135,339 $140,293 $145,415 $150,708

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demographic and income profile 7255-7309 nw 12th street | miami fl 33126

3 mile radius

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traffic map7255-7309 nw 12th street | miami fl 33126

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FRANK CALAUTTIbroker associate M1 industrial

[email protected]

TRISTAN L. ZARATEsales associate M1 industrial

[email protected]

contact us

120 ne 27th street, suite 200, miami, fl 33137 | o. 305.571.9991 | f. 305.571.9661 | e. [email protected]

© Copyright 2012 Metro 1 Commercial All rights reserved

Real Estate Solutions For The Urban Lifestyle

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Milam Warehouse Condos Investment Package