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Sales Comparables: According to CoStar five industrial buildings were sold in the first quarter of 2020, at an average price/sf of $70.77.
Notably a 1,222 sf condo unit located at 13055 NW 42nd Avenue (photo above) sold for $180,000 or $147.30/sf. Additionally, today CoStar shows two properties currently under contract, 13801 NW 43rd Avenue (three adjacent condo units) as well as 13061 NW 43rd Avenue, a 10,601 sf multi tenant configured building.
Lease Comparables: According to CoStar two industrial spaces were leased in the first quarter of 2020.
10,000 sf was leased at 16542 NW 54th Avenue, for a reported $8.75/sf (photo above).
Additionally 23,486 sf was reported to have been leased at 2275 NW 150th Street, for $6.50/sf. (photo above)
Summary/Notes: Industrial properties are being discussed as potentially least affected by the current COVID-19 market conditions. Particularly well positioned buildings near major population centers, like most of those in Opa Locka, FL, could see increased activity in the coming months. "E-commerce is a driver that will continue to make positive contributions towards Miami’s industrial demand growth, offsetting some of the losses from the more traditional international trade flow." as reported in CoStar. Please contact me today if we can advise you on prospecting and procuring credit qualified tenants, or if we can offer you a detailed market analysis to prepare your building for sale!
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