Hialeah Office Building Trades For $7 Million

Marcus & Millichap Real Estate Investment Services has announced the sale of Celis Building, a 63,634-square foot office property located in Hialeah.
The asset sold for $7,150,000.
Alex D. Zylberglait, a Vice President Investments in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor from Hialeah.  Douglas K. Mandel, a First Vice President Investments, and Benjamin H. Silver, a Senior Associate, in the firm’s Fort Lauderdale office and Jonathan Gerszberg, a Senior Associate in Marcus & Millichap’s Miami office, represented the buyer, a limited liability company from North Miami.
“We received a tremendous amount of interest from the investor community due to the property’s location off Palm Mile in Hialeah, and its stellar condition.  The property is well known due to its iconic appearance, a colorful paint work of artist Perez-Celis, after whom the building was named,” says Zylberglait.
The Celis Building offers approximately 60,000 square feet of new office space and 3,600 square feet of mini-storage facilities.   The building recently underwent a gut renovation and all of the tenant spaces have wood flooring and are immaculate.  There is ample onsite parking- much of it covered- and the building also has two passenger and one cargo elevators that have been fully renovated.
The property is located on 47th Place and West 12th Avenue, next door to Gus Machado Ford and half a block from 49th Street, the main east-west corridor in Hialeah. Celis Building is located at 1275 West 47th Place in Hialeah, FL.