Axis Realty Advisors Closes $2.115 Million Sale Of Miami Warehouse Property

Adam P. Von Romer, CCIM, President of Axis Realty Advisors, Inc., has closed the sale of a warehouse property located at 18331 NE 1st Avenue in Miami for $2,115,000.

The property totals 11,240 square feet and includes five bays with grade-level loading. Originally built in 1968, the asset traded with a value-add profile, as the sale was completed subject to below-market leases, deferred maintenance, and one vacant unit.

The buyer was one of the property’s existing tenants, reflecting a strategic acquisition by an in-place occupant seeking long-term control of the asset.

The property had previously been marketed as an older small-bay industrial building in a well-connected North Miami Beach location near major regional transportation corridors, including I-95 and the Golden Glades Interchange. The offering materials also described the asset as a concrete block and stucco structure on a corner lot.

“This transaction underscores continued demand for functional small-bay industrial product in Miami-Dade County, particularly opportunities where owner-users and existing tenants can create value through improved control of their real estate,” said Von Romer.

With limited supply of smaller industrial spaces across South Florida, properties with repositioning potential continue to attract interest from buyers willing to address leasing and physical plant challenges in exchange for long-term upside.