For Sale
$1,400,000

401 Palm DrHomestead, FL 33034

Homestead, FL retail investment

Overview

Added:
Dec 11, 2024
Days on market:
114
This Homestead, Florida retail center offers a compelling investment opportunity. The 2,569 square foot property, situated on a 26,250 square foot lot, comprises six fully occupied units in a single-story building. Built in 1949 and renovated in 2015, the property boasts a 3.75% cap rate and a strong net operating income (NOI) of $52,540. The C-1 zoning allows for diverse uses, including daycare, shopping center, and storefront options. With 16 parking spaces and 100% occupancy, this stabilized investment presents a solid return. The property's strategic location across from Florida City Hall on Palm Drive in Miami-Dade County, Florida (zip code 33034) adds significant value. The $1,400,000 asking price translates to $544.96 per square foot and $53 per square foot for the land. This presents a chance to capitalize on current income while exploring future redevelopment potential. The gross lease structure simplifies management, and the multi-tenant setup provides diversification.

Highlights

  • 2,569 SF retail center on a 26,250 SF lot in Homestead, FL.
  • Six fully occupied units in a single-story building, built in 1949, renovated in 2015.
  • 3.75% cap rate and $52,540 NOI.
  • C-1 zoning allows for diverse uses, including daycare and retail.
  • $1,400,000 asking price ($544.96/SF building, $53/SF land).

Property Details for 401 Palm Dr

Property type
Day care centers & nurseries, Lifestyle centers
Square Feet
2,569 SF
Class
C
Year Built/Renovated
1949/2015
Buildings
1
Stories
1
Units
6

Location Insight

City
Homestead
County
Miami-Dade
State
Florida
Latitude
25.447731979012
Longitude
-80.482138216003
401 Palm Dr, Homestead, Florida

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401 Palm Dr
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