In the above chart one can see that the number of commercial property sales in Miami-Dade county, aka the Miami, Florida metro area, for both improved and vacant land that were recorded in the Miami Realtors MLS, rebounded in the month of June to the lower end of a band that sales fluctuated within pre-pandemic. […]
The effects of coronavirus on employment in the Miami area continue and are clearly evident in the May 1 unemployment rate of 11.3%. This is a drop, however, from the prior month’s level of 11.95%, and remains below the unemployment rate of 12.4% reached in August 2009. I think most people would have anticipated the […]
NOTE: The sale of this property closed in September, 2022. Contact the broker for information on the sale of the prospect of buying or selling similar properties. Related Resources Opportunity Zone Info This Miami Census Tract 14.02 Low Income OZ Opportunity Zone Basics IRS Opportunity Zone FAQs Miami-Dade County Property Appraiser Information Miami 21 Miami […]
NOTE: This property is under contract with a non-refundable deposit in place. Contact me to discuss other similar properties to purchase. Information & Related Resources Offering Memorandum Executive Summary Property Details Floor Plans Location Information Area Parking Financial Analysis Comps Demographics MLS Commercial Listing Loopnet Listing Architectural Drawings Coral Gables Zoning Districts (this property is […]
Certainly these could be characterized as the “duh charts” in this environment. Business is obviously down, and uncertainty is up. That is not news. It is nonetheless interesting to see this all graphically represented. It also serves to remind one that that uncertainty means only what it means, not certain. Put differently, it simply means […]
The chart above shows the number of commercial property sales in Miami-Dade county, frequently considered as the general Miami, Florida metro area, for both improved and vacant land that were recorded in the Miami Realtors MLS from January 2018 to May 2020. Though MLS only picks up a portion of commercial property sales, and thus […]
Last month we noted that though one month does not say much it was worth noting that commercial properties traded at a somewhat normal price in relation to listing price in the COVID-19 affected month of April. Now we have, as can be seen in the chart above, another month with this ratio holding fairly […]
The effects of coronavirus are clearly evident in the April unemployment rate spike in Miami-Dade as of April 1, 2020. At 11.95, the level of unemployment has yet to reach the 12.4% level reached in August 2009. Given the effects of coronavirus on commerce, however, the May 1 numbers, once released, will surely exceed that […]
Almost to the minute I posted about how commercial property inquiries had gone over a cliff, noting it as worthy of duh-chuckle categorization, inquiries began to rebound. This one could go in the category of “Whuuut?” As I mentioned in that prior post, if you know me, you know I’m a data hound. I collect […]
Granted, one month does not a recession make. However it is worth noting that commercial properties traded at a somewhat normal price in relation to listing price in the COVID-19 troubled month of April, as can be seen in the chart above. Sure, this ratio is lower that the prior month, but only a bit, […]
Miami Association of Realtor’s MLS commercial sales, charted above, may not be representative of all commercial sales, but they are representative of a level of sales such that one period can be compared to another. In the accompanying chart, one can see that closed transactions declined by 2/3 in April 2020, to 40, from a […]
At the end of April of 2019, intermediate yields remain at lows reached in recent weeks. This has, of course, been driven by reduced economic activity due to the COVID-19 pandemic. As can be seen in the accompanying chart, five year rates, which are most closely tracked for commercial property borrowing cost, found themselves under […]
This video is a recording of theApril 30th Brickell Alliance’s virtual town hall conversation with Miami City Commissioner Ken Russell on the City of Miami’s Recovery Roadmap. Reviewed are various phases of recovery and the orders to be issued within them, the expected timelines for such, and criteria for deciding when milestones are met. This […]
I considered setting up a new topic category for this called “duh.” Chuckle. If you know me, you know I’m a bit of a data hound. I collect and manipulate data as a tool. One set of data I maintain is various types of selling activity, which I log throughout each day. It isn’t perfect, […]
As can be seen in the accompanying chart, after years of steady decline, the unemployment rate spiked notably in March of 2020. This surely is caused by the earlier stages of the COVID-19 Pandemics, and thus will likely be even higher in April. Higher unemployment is bad for the economy, and in turn for commercial […]
In my practice I’ve noticed a dearth of moderate sized, 7,000 to 10,000 square feet, light industrial properties. There are numbers of older properties, many of which predate the widespread use of the container ship and the consequent dominance of the modern semi-trailer truck. Older buildings frequently have lower ceilings, lack dock height loading, and […]
