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Hialeah Industrial Site Could Be Rezoned For Multifamily

A warehouse in Hialeah could be rezoned to spur multifamily development near a public transit station.

The 8.27-acre site at 1101 East 33rd St. has a 159,000-square-foot warehouse constructed in 1956. It’s seven blocks north of the Tri-Rail/Metrorail transfer station, where the regional rail transit connects with Miami-Dade County’s primary public rail system. It’s also near an Amtrak station.

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Average Sale Prices Of Local Industrial Spaces Have Dropped, But Experts Aren’t Worried

Warehouses in South Florida sold for less this year than in 2018, according to a recent study. But the price per square foot in Miami-Dade was up, indicating a healthy market, say experts.

The average sale price for industrial spaces in Miami-Dade, Broward and Palm Beach dipped from $1.9 million in 2018 to $1.6 million in 2019, according to Reonomy. The commercial real estate data company studied nine metro areas from 2014 to 2019 in its “State of the Industrial Real Estate Market: MSAs on the Rise” study published in November.

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