With the economy in an upward swing and with interest rates low, it seems that brokers are overwhelmed trying to meet the demands of buyers seeking to purchase commercial property in the Doral area. Property owners can't understand why brokers are knocking at their doors to what seems to be 'just another listing'. But the reality of this frenzy is simply that Doral's commercial real estate market has become one of the most highly demanded areas for companies to operate from.
Recently more new companies have moved into the Doral area than ever before, such as distribution and import/export businesses that find Doral's location ideal. Doral is situated right between the Palmetto and Dolphin Expressways, within close proximity to both the seaport and Miami International Airport.
Property foot values in Doral have dramatically increased. Warehouse space per square foot currently ranges from $80-$100, depending on location and condo vs. free-standing buildings. Developers are unable to keep up with the demands of the market and prices are quick to reflect the scarcity of land. New condo-warehouse developments are currently being offered from $110-$125 per square foot.
Viktoria Telek sees this as an opportunity for owners to sell and obtain top value. One of her most recent transactions includes a 7,700 SF warehouse off the Palmetto in which she represented the seller. Viktoria was able to bring a full price offer from a buyer she procured within two weeks! This is a great example of why now is the time for owners to consider selling their property and take advantage of the opportunity to obtain the highest value for their property.
For a free market analysis on your property contact Viktoria Telek.
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