Updated Apr 28, 2026
Existing Tenant Acquires 11,240-Square-Foot Warehouse In Miami For $2.115M With Adam P. Von Romer As The Broker
18331 Northeast 1st Avenue
$2,115,000
$188/SF
Building Size
11,240 SF
Asset Type
Industrial
Closing
Apr 26, 2026
About this deal
AI
The property asset involved in this transaction is an 11,240-square-foot warehouse located at 18331 Northeast 1st Avenue in Miami. This industrial asset was sold for $2,115,000, translating to a price per square foot of $188. Built in 1968, the five-bay warehouse reflects its characteristics as a value-add deal, facing deferred maintenance and one vacancy while having below-market leases in place.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,115,000
- Square Footage: 11,240
- Address: 18331 Northeast 1st Avenue
- Market: Miami
- Price per Square Foot: $188
Adam P. Von Romer of Axis Realty Advisors represented the seller during this transaction. The sale was notable as it was acquired by one of the property's existing tenants, indicating ongoing demand for small-bay industrial properties in Miami-Dade County.
Players
Miami Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.50%
Cash-on-Cash
-2.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93