2601 9Th CtHomestead, FL 33033

Property Details for 2601 9Th Ct

Year built

2020

Construction

CONCRETE

Lot size

2.61 AC

Property size (Sq ft)

82,858 SF

Zone code

6500:COMMERCIAL,CLASSIF

Property type

Hospitality properties

Property subtype

Hotels

APN

10-7909-040-0010

APU

1079090400010

Description

This exceptional investment opportunity presents a 6,000 square foot, freestanding retail storefront in Homestead, Florida, currently leased to Pediatric Associates under a 10.1-year Net Lease agreement commencing May 9, 2024, and expiring May 31, 2034. The property boasts a strong 5.50% cap rate and a substantial Net Operating Income (NOI) of $270,000. The lease includes a corporate guarantee from Pediatric Associates Holding Company, LLC, providing significant financial security. Built in 2024, this newly constructed building sits on a 0.98-acre lot and benefits from a strategic location as a Target outparcel, adjacent to the Homestead Pavilion, a 395,000+ square foot power center anchored by Sprouts Farmers Market and featuring other national retailers like Kohl's, TJ Maxx, Planet Fitness, Ross Dress for Less, and Petco. This creates a synergistic environment with high foot traffic and strong consumer demographics. The lease features attractive 3% annual rent bumps throughout the initial term and two 5-year renewal options, ensuring consistent income growth. This is a rare opportunity to acquire a high-performing, net-leased property with a long-term tenant and significant upside potential in a thriving retail corridor. The property address is 2601 NE 9th Ct, Homestead, FL 33033, in Miami-Dade County. The asking price is $4,910,000.

• CAP approach

  CAP return

  Valuation

  6%

  $68,549,888

  6.5%

  $63,276,820

  7%

  $58,757,048

• Comparable approach

  Method

  Valuation

  Relative Method

  $64,102,828

  Geo Method

  $64,102,828

• Alternative Use

  Use

  Valuation

  Residential

  $69,079,904

  Hospitality

  $63,276,820

  Educational

  $52,645,572

  Medical

  $54,456,132

  Retail

  $81,893,112

Location Insight

City

Homestead

County

Miami-dade

State

Florida

Latitude

25.4808

Longitude

-80.4372

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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