SOLD! 31,000 SF Building in Sunshine State Industrial Park
The Industrial Team at ComReal in pleased to announce the sale of the building located at 1585 NW 163rd St Miami, FL 33169, located inside Sunshine State Industrial Park. The building is +/- 31,000 Sq. Ft. on a +/- 2.4 Acres lot, fully fenced. Sale price was $2,800,000 or $90/Sq. ft. The seller was Q-Alpha Realty Corp; the buyer for the building is Calico Investments. This was an off-market transaction the team facilitated. The building was fully leased and the owner plans to keep it as an investment.
This is a very unique building with excess land; hard to find in the Miami Industrial Market. The ownership originally was a manufacturing company and then leased it multiple tenants. Currently occupied by two tenants. Location is ideal as it provides easy access to Golden Glades interchange to reach the Tri-County area. Additionally, located inside Sunshine State Industrial Park where not many buildings come on the market. Business owners love this industrial park. The Industrial Team has closed multiple transactions in the area and were able to put bring Buyer and Seller successfully.
Due to the limited and not so efficient inventory of properties for sale, our team was proactive; reaching out to owners and were able negotiate a successful transaction. It’s a competitive market so being ahead and very persistent makes the deal. Mentioned Edison Vasquez from ComReal.
The Miami Industrial Market continues its strong growth, despite the Corona Virus Pandemic. The inventory of properties for sale remains limited. In the second quarter of 2020, the average sale price was $155 Sq. Ft. The market vacancy rate was 5.3%
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 email us!