A vacant land owner, where the property that has seemingly topped out its HABU (highest and best use) potential, is forgoing potential income from reinvestment of potential sales proceeds (of the vacant land) for no apparent benefit. In other words, if HABU is topped out, there is not a higher value HABU to come, […]
I find buyers commonly debating total monthly cash outlay to own versus that of renting in year one. Though I admire the cash-is-king disciple of this, I would submit that the projected net cost to own compared to that of renting is so attractive that it offsets the typically small differences in cash outlay at […]
After dipping a touch, just enough to make some market players wonder what it might mean, the sales to list price ratio as reported by the Miami MLS, rebounded right back to around 92%, very much in line with where is has generally been for the past few years. This ratio has held up well […]
Looking at the chart of two year trailing closed sales of Miami-Dade commercial properties, both improved and vacant land, thus for the period from September 2018 to August 2020, sales reached the highest level of this year. Given that COVID really began to impact markets in February, these numbers thus could be said to exceed […]
In this month’s chart of two year trailing sales of Miami-Dade commercial properties tracking, for the period from August 2018 to July 2020, sales of both improved and vacant land, it is evident that the level is holding within a normal range. This “holding pattern” follows a brief dip in April and May as the […]
The sales to list price ratio as reported by the Miami MLS, after having held up well as coronavirus hit, reached its lowest level in a number of years for properties classified as commercial/industrial with prices from $1 million to $10 million. That this ratio held up so well as-if-nothing to this point is at […]
The continuing effects of COVID-19 on employment, and thus the economy, in the Miami area continue can bee seen in the June 1 unemployment rate of 11.5% for Miami-Dade county, down slightly from the prior month’s 12.0% level. This is little changed from levels reached in April as unemployment levels made an initial jump due […]
Yields on 5-year U.S. Treasury Notes remain at lows quickly reached as we entered the era of the COVID-19 pandemic. As can be seen in the chart embedded herein, these rates, most closely tracked for commercial real estate financing cost, plummeted from what were already considered low levels to under 50 basis points (0.5%), barely […]
In my commercial real estate brokerage business, I’ve noticed a trend of some buyers expecting lower prices on properties, sometimes even clearly taking offense at a seller not budging on price. There seems to be, with them a sense that they know better to such a degree that they are disgusted by the gall and […]
The sales to list price ratio strengthened in June to nearly 96.5%, not a bad number even pre-pandemic, but a great one within it. A statistically minded person might note that list prices might have come down, thus making this ratio less insightful, less positive. If so, then the closing price to original price should […]
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 […]
