The ComReal Industrial Team, led by Pat McBride and Edison Vasquez, completed an off-market sale of an industrial property located in the City of Opa-Locka within Miami-Dade County. Specifically, the building is located at 2358 NW 151st Opa Locka, FL 33054 and featured +/- 32,700 SF on a +/- 2.75 acre site. The building is currently being used as a commercial laundry facility for healthcare providers. It offers heavy power, dock, and street level loading. The additional land is one of the main selling points as low FAR properties are harder and harder to find, especially in last mile locations. The Seller was Nova Health Services Florida, LLC. The Buyer is 2358 NW 151, LLC. The sale price was $3,600,000 or $110/SF.
This size and features of this building suit many industrial users that are often overlooked in the market. Almost all of the new industrial product that is being built are big box, distribution centers that cater to a certain class of tenants. The subject property caters to users who have outdoor storage needs, large parking requirements, or heavy power specifications. Additionally, the building offers an excellent in-fill location with easy access to major highways, including SR 826 (Palmetto Expressway), Gratigny Expressway, and I-95. The facility is located within minutes of the large population centers running along I-95. It’s also located within miles from two major amazon distribution facilities.
This off-market sale is an example of the short supply of industrial buildings for sale in Miami, especially properties with low lot coverage. Our team was able to source this deal by providing the buyer with an opportunity to purchase with exclusivity and without competition. We were also able to provide the seller a hassle-free process and the certainty of closing, including a short-term leaseback,” said Pat McBride with ComReal.
The industrial real estate market in South Florida continues its strong growth outpacing the national industrial average. The limited inventory of buildings continues to push sale prices and corresponding rents to record numbers. In the third quarter of 2021, the average sale price Miami Dade was $182 Sq. Ft. The market vacancy rate was 3.1%
For more information on the transaction or for other similar buildings in our inventory, contact the Industrial Team at ComReal at 786-433-2380 or pmcbride@comreal.com
About the ComReal Miami Industrial Team: The ComReal Miami Industrial Team has been assisting companies with their South Florida real estate needs for over 30 years. The industrial team specializes in the sales and leasing of industrial properties. Visit Warehouses Market and/or call 786-433-2380 for more information.
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