ICI Salco Back on Deed at $7M for Salt Warehouse Off NW 60th St

Salco Salt has shipped food-grade, water-conditioning and pool salt out of 3590 NW 60th St since before ICI Foods bought the company in February 2021. Now the building itself has traded again. A deed recorded September 28 shows NLF Miami FL LLC selling the property to ICI Salco Real Estate LLC for $7 million, the same buyer entity name that took title in 2021.

Why it matters

This is an operator and its real estate, not a speculative flip. The appraiser’s record ties ICI Salco Real Estate LLC to the 2021 purchase from Salco Enterprises Inc, and Salco Salt’s own site says ICI Foods acquired the company that February. The Property Appraiser’s sales list we pulled does not yet show how NLF Miami came to hold the site, so we cannot say whether this is a buy-back, a sale-leaseback unwind or a clean-up transfer. The record shows only the grantor, the grantee and the price.

It also adds to a pattern we flagged this morning in $145M of Doral and Medley industrial deeds in one day, owners unnamed: small-bay and older Miami-Dade industrial keeps trading to owner-users who want control of the building. See our South Florida coverage.

The numbers

The folio covers a 48,394 sf lot in the Seaboard Industrial Center, zoned industrial light manufacturing, with about 35,200 sf of buildings: two CBS warehouses (21,098 sf from 1960 and 13,459 sf from 1965) and a 630 sf office from 1976. At $7 million, that works out to about $145 per sf of land and roughly $199 per sf of building.

The 2021 deed to the same entity was $5 million, so the price is up $2 million, or 40 percent, across the two recorded transfers. The county’s 2026 market value for the folio is $5.3 million, which puts the sale about 32 percent above the appraiser’s number. The appraiser coded the 2021 deed as atypical motivation, a flag for related-party or non-market sales, so treat that $5 million as a reference point, not a comp.

What’s next

Watch for a mortgage recorded against the folio, which would show who financed the $7 million and on what terms. Any permit activity at 3590 NW 60th St would signal whether Salco plans to expand a 1960s plant or simply hold it.

A second deed from the same feed is still unexplained: Doral 5400 LLC took 5400 NW 84th Ave in Doral from PF Lue Holdings LLC for $8.9 million, recorded September 23 (CFN 2026 R 652727). Doral 5400 LLC also bought that site in 2014 for $2.575 million, so the chain needs a second record before we call it a gain.