As one of the strongest markets in American commercial property markets, the Miami industrial market began the year strong through 2026. While most big cities were burdened with large amounts of excess inventory at the beginning of 2026, South Florida’s continuing role as “The Gateway To The Americas” has enabled this area to continue to prosper.
In recent years, the growth of the industrial market has been largely through growth and expansion. Now, the industry is maturing to a much healthier level of balance. Knowing where to buy in each of the sub markets now takes on even greater significance for both institutional and owner/user types of purchases. Therefore, this document serves as your ultimate source for information regarding the best sub markets to purchase industrial real estate in Miami today.
Is industrial property a good investment in Miami in 2026?
Absolutely. In February 2026, Miami remains a global safe haven for capital. Unlike many U.S. markets that are seeing double-digit vacancy increases, Miami-Dade’s vacancy rate has stabilized at a healthy 6.1% to 6.9%.
Demand is not only a function of e-commerce anymore; recently, it has also been driven by businesses nearshoring (“companies relocating their manufacturing processes closer to the U.S. from Asia”) and the massive influx of Latin American capital into North America. Florida’s tax structure and Miami’s infrastructure are now post-COVID more efficient, making industrial facilities in these areas exceptional investments with both current yield and future value growth potential.
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1. Doral (Airport West): The logistics powerhouse
Doral continues to be the most sought-after industrial submarket in Miami-Dade. Its proximity to Miami International Airport (MIA) makes it the ground zero for freight forwarders, pharmaceutical companies, and perishable goods distributors.
- Why buy here: High liquidity and institutional demand.
- Pricing trend: Rents in Doral are leading the market, often exceeding $18.00 per square foot (NNN).
- The 2026 edge: New Class-A developments are incorporating multi-story designs to maximize land value. If you can secure an asset here, the tenant retention rates are historically the highest in the county.
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2. Medley: The heavy industrial hub
For investors looking for larger footprints and heavy industrial zoning, Medley is the premier choice. In early 2026, Medley has seen significant sales volume as traditional logistics companies seek more “yard space”—a rare commodity in Miami.
- Market insight: Medley’s connectivity to the Florida Turnpike and Palmetto Expressway makes it a favorite for Third-Party Logistics (3PL) providers.
- Investment profile: Cap rates here are slightly more attractive than in Doral, typically ranging from 5.3% to 5.8%, providing a balanced return for value-add investors.
3. Hialeah: The last-mile connectivity king
Hialeah is undergoing a significant revival of its manufacturing base. Same-day delivery will reach its highest demand level in 2026, with Hialeah’s central location and population density being ideal as the “last mile” delivery location.
Hialeah Gardens and Hialeah Acres are two of Miami’s newest industrial neighborhoods, offering more affordable price points than Doral and comparable to Doral in terms of high-speed highway access to the downtown area.
- Vacancy watch: Hialeah maintains some of the tightest vacancy rates in South Florida, often staying below 3% for small-bay warehouses.
You might be interested in: Miami industrial real estate market trends 2026
4. Allapattah & Little Haiti: The adaptive reuse frontier
If you are looking for appreciation over immediate cash flow, these “infill” markets are where the growth is. We are seeing a trend in 2026 where older industrial buildings are being converted into creative offices, showrooms, or high-end flex spaces.
- Strategy: Buy older Class-B or C warehouses and reposition them for creative tenants.
- Catalyst: The proximity to Wynwood and the Design District is pushing values upward, with annualized returns in these submarkets hitting over 8% in recent years.
Where is the best place to buy a warehouse in Miami for investment?
Airport West (Doral) and Medley continue to be the benchmarks for investor portfolios. On the other hand, South Dade (Homestead/Cutler Bay) has become a potential dark horse for 2025 when it comes to higher yield investments.
With the population moving south, demand for service-based businesses ( HVAC, Construction, local distribution) is now explosive in previously underestimating locations.
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Key 2026 market metrics to remember
- Average asking rent: $17.56 PSF (NNN)
- Core cap rates: 5.1% – 5.8%
- Inventory growth: 1.6 million SF delivered in the last year, mostly in North Dade and Medley.
Closing thoughts
Miami’s industrial market is no longer in a “bubble”; it is in a state of sustained maturity. Success in 2026 requires local expertise to navigate rising insurance costs and property tax reassessments. At Agora Real Estate Group, we specialize in identifying these submarket nuances to ensure your investment stands the test of time.
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