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8821 Dixie HwyMiami, FL 33156

Miami Shopping Center, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
Dadeland Point, a 10,725 square foot shopping center in Miami, Florida, presents a compelling value-add investment opportunity. Located at the hard corner of US-1 and Kendall Drive in the affluent Pinecrest neighborhood, this property boasts exceptional visibility and accessibility, with over 55,000 vehicles passing daily. The single-building center, constructed in 1990 and extensively renovated in 2023/2024, sits on a 0.92-acre lot and is currently 100% occupied by three national credit tenants under triple-net (NNN) leases. Current rents are below market value, particularly for Mattress Firm, offering significant potential for increased revenue through rent adjustments. The property benefits from a recent major capital expenditure program encompassing all major building systems. Its prime location in a high-income residential area, close to Downtown Dadeland and two Metrorail stations, provides not only strong current income but also substantial future redevelopment potential. The large lot size and strategic location make it suitable for various redevelopment options, including mixed-use developments, leveraging South Florida's evolving land-use policies and high demand for residential projects. This property offers a unique blend of stable current income and significant long-term upside.

Highlights

  • Hard-corner location at the signalized intersection of Kendall Drive and US-1, with over 55,000 vehicles daily.
  • Triple-net leased to credit tenants including AT&T and Mattress Firm, ensuring reliable income.
  • Below-market rents, offering significant upside potential.
  • Recently completed major capital improvements to building systems.
  • High visibility on US-1, a major arterial road.
  • Located in Pinecrest, a high-income Miami suburb near Downtown Dadeland.

Property Details for 8821 Dixie Hwy

Property type
Lifestyle centers, Power centers
Square Feet
10,725 SF
Year Built/Renovated
1990/2023
Buildings
1
Lot Size (sq. ft)
40,075 SF

Location Insight

City
Miami
County
Miami-Dade
State
Florida
Latitude
25.6882149
Longitude
-80.3085862
8821 Dixie Hwy, Miami, Florida

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8821 Dixie Hwy
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