The sales to list price ratio as reported by the Miami MLS for improved commercial real estate (MLS classification: commercial/industrial) within Miami-Dade county in Florida priced from $1 million to $10 million in January hit 95.1%, the highest level in 16 months. The last time this ratio was higher was September 2019 when the ratio […]
The chart herein shows the number of closed sales of Miami-Dade commercial properties, including improved commercial property and vacant commercial land, recorded in the Miami MLS, for the two years ending January 2021. One can see that this is the slowest month since the initial onslaught of COVID-19 in April and May of 2021. Looking […]
Yields on 5-year U.S. Treasury Notes continue to remain at lows reached as COVID slowed economic activity, driving rates lower. As can be seen in the chart above, these rates, most closely tracked for commercial real estate financing cost, remained near zero percent, closing at 0.36%, barely in excess of a third of a percent […]
The sales to list price ratio as reported by the Miami MLS for improved commercial real estate within Miami-Dade County from $1 million to $10 million in December was 91.50%, just above the 10 year average of 91.04%. Coincidentally December’s 91.40% ratio is exactly, to the fourth decimal point (2nd of a percentage, thus the […]
The chart above displays the trailing two years ending December 2020 of closed sales of Miami-Dade commercial properties, including improved commercial property and vacant commercial land, recorded in the Miami MLS. After a bit of a pullback in November, sales rebounded to closed out the year fairly strong, registering the sixth strongest month of the […]
Hawkins Commercial Realty successfully brokered the sale of this property. Related Destinations: Zoning Map Zoning Code Excerpt: Increased density of up to 100 units per acre is permitted for affordable housing developments as defined by Section 420.0004, Florida Statutes. 2030 Comprehensive Master Plan Excerpt: Maximum 150 units per acre. Areas in the Corridor Mixed […]
As has been reported extensively in the press, a number of Metronomic properties are being auctioned. Stalking horse bids are now due by February 24, 2021. The properties being auctioned are available for purchase individually or in any combination, or one can bid on the entire package of properties. As can be seen, these are […]
The metropolitan statistical area (MSA) of Miami is among the 10 largest MSAs in the United States, with a population that is today estimated at in excess of 6 million. 100 years ago, however, Miami was a much smaller city, and its skyline was but a few low buildings on or near Flagler Street. Today, […]
As readers can see in the chart above of the trailing two years of closed sales of Miami-Dade commercial property, both improved commercial property (with buildings) and vacant commercial land, recorded in the Miami MLS. November 2020 pulled back a bit from prior strong months to around an average for the year. The Miami Multiple […]
This Wednesday, December 9th, at 6:30 PM the Miami-Dade County Department of Transportation and Public Works (DTPW) will soon be hosting a virtual public meeting seeking input on the preliminary design of the second phase of The Underline, a 10-mile linear park and urban trail under construction that will transform the land below Miami’s Metrorail. […]
The sales to list price ratio as reported by the Miami MLS for improved commercial real estate within Miami-Dade County from $1 million to $10 million edged up in November to 93%, the highest level since the 94.5% ration in March of the same year. after a dip in September. This puts this ratio in […]
Downtown America is Becoming an Open Sewer as Dog Populations Multiply in Multifamily Towers As Americans have been moving back to the central business districts of its cities, a situation has been developing that has gone largely unnoticed except by those affected; downtown America is becoming an open sewer. In downtown areas it has become […]
As can be seen in the chart above of the unemployment rate in Miami-Dade for the year ending September 1, 2020, the unemployment rate as of September 1 went back up to 13.0%, not so far from its peak of 14.5% reached two months prior. This followed a welcome decline in the month between to […]
The sales to list price ratio as reported by the Miami MLS for improved commercial real estate within Miami-Dade County from $1 million to $10 million firmed back up in October to just over 90% after a dip in September. This put the ratio within but in the lower end of a 5% band it […]
As can be seen in the chart above of the trailing two years of closed sales of Miami-Dade commercial property, both improved commercial property (with buildings) and vacant commercial land, recorded in the Miami MLS. October 2020 was again a strong month in line with recent, also strong, months. The Miami Multiple Listing Service (MLS) […]
I regularly am in situations where a buyer is interested in some commercial property that is already under contract. It is the exception where I don’t recommend submitting a backup offer. There are two principal advantages to a buyer of submitting a backup offer in an effort to put a backup contract in place. Both […]
