Cutler Bay Retail Investment
For Sale
$3,500,000
20462-20500 S Dixie Hwy, Cutler Bay, FL 33189
Fully leased retail and restaurant property with high traffic location.
Property Size10,776 SF
Lot Size0.60 Acres
Days on Market260
Property Features for 20462-20500 S Dixie Hwy
General Information
Standard status
Active
Size
10,776 SF
Lot size
0.60 Acres
Property subtype
Commercial
Building Details
Building Size
10,776 SF
Year Built
1964
Listing Agency:
Apex Capital Realty Miami
(305) 308-9411
Listed By:
Adriano Salucci · License #SL3470836
(305) 308-9411
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 11
Last Checked: Aug 14 at 9:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Apex Capital Realty Miami
Investment Insights
Based on property information with market context.
This fully-leased property is located at 20462-20500 S Dixie Hwy in Cutler Bay. The property consists of two buildings: an 8,584 sq. ft. retail strip and a 2,192 sq. ft. freestanding restaurant, situated on a 26,004 sq. ft. lot. The property is located on the high-traffic US-1, directly across from Southland Mall. The property generates an NOI of $210,000 annually and presents excellent value-add and redevelopment potential. This property is suitable for investors looking to enhance income streams or explore future development opportunities in a thriving commercial corridor.
Key Highlights
- High‑traffic location on US‑1, directly across from Southland Mall.
- Generates an NOI of $210,000 annually.
- Fully‑leased property with two buildings: retail strip (8,584 sq. ft.) and freestanding restaurant (2,192 sq. ft.).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$207,449
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,148,980
$4.1M
Cap Rate 7%
$2,963,557
$3.0M
Cap Rate 9%
$2,304,989
$2.3M
Market Conditions
NOI Build-Up for 10,776 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$297.4K $27.60/SF
− Vacancy
−$20.8K −$1.93/SF
EGI
$276.6K $25.67/SF
− OpEx
−$69.1K −$6.42/SF
NOI
$207.4K $19.25/SF
Area
Miami-Dade County, FL
Vacancy
7.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,148,980
Cap Rate 7%
$2,963,557
Cap Rate 9%
$2,304,989
Alternative Uses
Best Use
Specialty Retail
$2.96M
$2.59M – $3.46M
NOI $207,449 @ 7.0% cap · market cap 5.93%
Second Best
Retail
$2.60M
$2.28M – $3.04M
NOI $182,214 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$5.47M
$4.78M – $6.38M
NOI $382,698 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 33189, FL
25,598
Population
8,901
Households
2.9
Avg Household Size
41
Median Age
27%
College-Educated
83%
High-School Grad
5.1 sq mi
ZIP Area
5,019
Density / Sq Mi
$66,487
Median Household Income
$41,039
Median Earnings
$1,539
Median Rent
$409,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased retail and restaurant property with high traffic location.
Where is this strip mall located?
The property is located at 20462-20500 S Dixie Hwy Cutler Bay, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: High‑traffic location on US‑1, directly across from Southland Mall.; Generates an NOI of $210,000 annually.; Fully‑leased property with two buildings: retail strip (8,584 sq. ft.) and freestanding restaurant (2,192 sq. ft.).
