A 7,143 square feet light industrial property at 7961 NW 14th Street has sold for $1,455,000, $203.70 per square foot. Situated on a 21,593 square feet / half acre lot backing up to a scenic lake, the building offers a class B+ office environment with a water view aside its workhorse warehouse area. The office area features a lesser square footage second floor overlooking the lake, nicely maximizing water views for its users. These features are typical of this area, with a set of buildings in its immediate vicinity with highly similar features, including one just to its west at 7963 NW 14th Street which sold a year prior for $1,452,500. The seller of 7961 NW 14th Street, Delasur Enterprises Inc., had purchased the property in 2005 for $750,000, $104.99 per square foot. Property taxes in 2019 were $16,721 on an assessed value of $936,000.
Located within the city limits of Doral, Florida, the folio is zoned Industrial District (I). The city of Doral established this district to allow for industrial uses in the city so as to increase the economic activity with the area’s close proximity to Miami International Airport (MIA) and to retain and continue allowing industrial uses in the city. In a similarl vein, the land use shown by the Miami-Dade Property Appraiser is “4837 warehouse terminal or storage ; warehouse or storage,” while that noted as for other government agencies, presumably in this case the City of Doral, is “320 – industrial, intensive, heavy-light manufacturing, and warehousing-storage type of use.”
The buyer is Miami based Viaper Enterprises LLC. The commercial buyer’s brokers on the transaction was James Hawkins, Principal Broker of Hawkins Commercial Realty.