33590 Dixie HwyFlorida City, FL 33034

Property Details for 33590 Dixie Hwy

Year built

2008

Construction

CONCRETE

Lot size

3.29 AC

Property size (Sq ft)

30,596 SF

Zone code

6000:COMMERCIAL,GENERAL

Property type

Retail properties

Property subtype

Outlet malls

APN

16-7919-000-0010

APU

1679190000010

Description

This exceptional investment opportunity presents a 30,000-square-foot Best Buy storefront on a 3.29-acre lot in Florida City, Florida. The property boasts a strong 6.45% cap rate and a substantial net operating income (NOI) of $645,000. The current lease, a triple-net (NNN) agreement with a corporate guarantee from Best Buy (S&P: BBB+), has a remaining term of approximately 4.4 years, with two 5-year renewal options. The building, constructed in 2008, sits on a highly visible, signalized corner of US-1, experiencing over 40,500 vehicles daily, and benefits from proximity to the Florida Turnpike (over 50,300 vehicles daily). The location enjoys excellent synergy with neighboring retailers including Walmart, Aldi, Starbucks, Home Depot, BJ's Wholesale, and a Nike Outlet Mall. Ample parking is provided with 180 spaces. The property's location within a densely populated area (87,982 residents within a three-mile radius) and the planned addition of over 4,000 residential units further enhance its long-term value. The asking price is $9,999,999, translating to $333.33 per square foot and $71.97 per square foot for the land. The property's APN is 16-7919-000-0010 and is zoned 16-7919-000-0010. This is a rare opportunity to acquire a high-performing, corporate-guaranteed retail asset with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $32,774,582

  6.5%

  $30,253,460

  7%

  $28,092,498

• Comparable approach

  Method

  Valuation

  Relative Method

  $25,393,120

  Geo Method

  $25,393,120

• Alternative Use

  Use

  Valuation

  Residential

  $25,519,926

  Hospitality

  $23,376,114

  Educational

  $19,448,652

  Medical

  $20,117,522

  Retail

  $30,253,460

Location Insight

City

Florida City

County

Miami-dade

State

Florida

Latitude

25.4557

Longitude

-80.4762

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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