Miami-Dade Predefined Commercial Types

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"With 3D Tours, properties sell up to 31% faster and at a higher price"

Thinking about selling? Contact Best of Luxury Realty Advisor today for a FREE, No-Obligation Comparative Market Analysis (CMA) and information regarding Video -or- 3D Virtual Tour presentation of your property. 

*We are offering our Buyer Clients real-time virtual property video tours and showings by Zoom, WhatsApp, Facetime, Skype, and via FB Messenger! A virtual office for electronic signatures, paperwork and closings. Contact our advisors for further details.

 

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Palmetto Bay

Palmetto Bay, a Miami suburban incorporated village, is located in Miami Dade County of Florida. This village includes two census designated places Cutler and East Perrine. This is a technologically advanced village in the sense that the council meetings used to be streamed online prior to 2012.
Spread over an area of 8.45 square miles, this area is a hurricane prone area. In 1992, Hurricane Andrew literally flattened the village. All the houses and commercial establishments were damaged beyond repair. In the earlier days, they used to build houses of wood. They converted the houses to concrete walls.


This village used to be the headquarters of Burger King at one point in time. Subsequently, in 2002, they moved to Miami Dade County. The notable places in the city include Charles Deering Estate and Thalatta Estate Park. Today, the building accounts for the offices of many small companies.
The population of the village is estimated at around 25,000 in 2016. The White Caucasian and Hispanic communities account for around 85% of the total population. English and Spanish account for the major languages in the region. The per capita income of the village is $ 39,271. Hence, you can call this village as an upper middle class village. One of the few villages to have its own newspaper, Palmetto Bay News is a bi-weekly newspaper. 


You have many elementary and middle schools in the village. The students have to go to Miami Dade County for their higher education. There is ample scope for construction activity in this town. This explains why the major builders are making a beeline for this village.
One thing they have to contend with is the constant fear of hurricanes. Strategically located, this town somehow bears the brunt of all the major hurricanes that hit the area. However, the buildings are stronger todays as compared to the olden days.


Palmetto Bay Sold In Last 12 Months

  • Closed Sales: 280
  • Homes: 250
  • Condos: 25
  • Rentals: 152
  • Commercial: 2
  • Multifamily: 1
  • Lots and Land / Boat Docks: 4

Palmetto Bay Currently Pending

  • Pending Sales: 19
  • Homes: 16
  • Condos: 3
  • Pending Rentals: 0
  • Commercial: 1
  • Multifamily: 0
  • Lots and Land / Boat Docks: 0

Palmetto Bay Available Property

  • Homes For Sale: 132
  • Condos For Sale: 18
  • For Rent: 58

Average $/SqFt:

  • Available Sales $548/SqFt
  • Available Rentals $3/SqFt
  • Closed Sales $492/SqFt
  • Closed Rentals $3/SqFt

Average Price:

  • Homes Average Price $1,672,282
  • Condos Average Price $525,994
  • Average Price Sold $459,930
  • Rental Average Price $5,472
  • Average Price Rented $5,572