Industrial Warehouse 21' Ceiling Height

1025 Southeast 5th Street, Hialeah, FL

$2,200,000

Price

17,200 sqft

Building Size

0.44 sqft

Lot Area

Overview
Building Size
17,200 sqft
Lot Area
0.44 sqft
Year Built
1957
Price Per Sqft
$127.94
Zoning
M-1
Tenancy
Single
Floors
2
Gross Leaseable Area
17200
Warehouse %
91.3%
CeilingHeight
21
Description

Marcus & Millichap is pleased to present a Single-Tenant Industrial Warehouse for an Owner/User located in the City of Hialeah, Florida. The property is 17,200 SF on 0.44 acre(s) of land with a mixture of 15,700 SF (91.3%) Industrial and 1,500 SF (8.7%) of newly expanded renovated office. The property is built with reinforced concrete construction, three drive-in bay doors, 21' ceilings and 3 phase heavy power. Demand for industrial space has grown, as both the local and the national economies continue to perform well. Miami's significant infrastructure, including Miami International Airport and Port of Miami, has continued to increase trade flow. While trade arrives in Miami, a lot of it leaves the area shortly after and gets distributed across the Southeastern U.S. The rise of e-commerce has created more demand for space, as delivery logistics gain momentum. Miami is a global gateway with strong trade links to Asia, Europe, and Latin America. Many U.S. distributors, including Amazon, use Miami as a base to reach Latin American consumers. Miami rent growth has been robust this cycle. Though it dipped below the national average for 2017 and 2018, rent growth has surpassed 6% year over year in 2019. This led to Miami rent growth once again surpassing national rent growth. Restrictions in supply will keep Miami industrial rent growth at healthy levels and have kept the market in the top 15 metros nationally. As a result, vacancy rates in the Miami industrial market are expected to remain below the national average. Miami is well positioned to maintain healthy industrial fundamentals given he market’s global connections, strong population growth, and the Panama Canal expansion.

Documents

Location
Gallery