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7499 NW 31st Street, Miami, FL
Located within Airport West, one of the most active markets and sought after
areas in the nation by institutional investors. Because of its logistical location,
lack of development land and close proximity to Miami International Airport.
The Airport West submarket is close to 97% in occupancy. Almost no new
properties are going to be built in the Airport West area in the near future,
increasing the upwards pressure on rents.
The SR-826 (Palmetto Expressway), itself a major South Florida roadway,
provides access to all other major thoroughfares within 5-7 miles, including
I-95,
I-75, and the Florida Turnpike.
The buildings in this immediate area close to MIA are undergoing substantial
renovations. Case in point, the property immediately adjacent to the USPS
Building being renovated by Cargo Ventures, Miami Cargo Park - 421,000 SF.
Rents quoted are in the $8’s NNN. These improved properties will boost values
for surrounding properties and add value to the district as a whole.
Rental rates continue to rise due to the lack of product in the market. As
vacancy continues to drop, the potential to take advantage of future high rent
increase is excellent.
• Built -1980
• Class “B” Property
• 1-Story Building
• 103,250 Rentable SF
• Located on 6.31 Acres
• Steel, Concrete
• Ample Parking
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