Retail Showroom on Dixie
For Sale
$6,500,000
33493 S Dixie Hwy, Homestead, FL 33034
18,612 SF retail/showroom on 1.6 acres.
Property Size18,612 SF
Lot Size1.60 Acres
Price / SF$349.24
Days on Market158
Property Features for 33493 S Dixie Hwy
General Information
Standard status
Active
Size
18,612 SF
Lot size
1.60 Acres
Property subtype
Vacant-User
Amenities
Situated Directly Between a Super Walmart & Home Depot
Signalized High Traffic Signalized Corner
High Barrier of Entry Marketplace and is available with up to a 2-year sale/leaseback or vacant upon sale..
Building Details
Building Size
18,612 SF
Year Built
2004
Listing Agency:
Fort Lauderdale Office
Listed By:
Howard Bregman · License #License(s): FL: SL3233326
(954) 245-3417
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 10
Last Checked: Sep 6 at 4:21AM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
The property is an 18,612 square foot retail and showroom building situated on 1.60 acres. Located at 33493 South Dixie Highway in Homestead, Florida, the property benefits from its position on a signalized corner of heavily trafficked South Dixie Highway, just west of the Florida Turnpike. The site is located between a Home Depot and Walmart Supercenter. The property features a large parking field with 50 parking spaces and over 240 feet of direct frontage on South Dixie Highway. The building has been home to Badcock Home Furniture and More since 2004 and will be delivered vacant upon sale. The surrounding area includes major national retailers such as Walmart, Home Depot, Best Buy, Target, BJ’s, Chase Bank, Aldi, AutoZone, McDonald’s, Napa Auto Parts, Krispy Kreme, Publix, AT&T, and Walgreens.
Key Highlights
- Premier location on 1.60 acres at a signalized corner on heavily trafficked South Dixie Highway.
- Located directly between Home Depot and Walmart Supercenter.
- Surrounded by major national retailers (Walmart, Home Depot, Best Buy, Target, etc.).
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
$314,714
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
4.84%
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%
$6,294,280
$6.3M
Cap Rate 7%
$4,495,914
$4.5M
Cap Rate 9%
$3,496,822
$3.5M
Market Conditions
NOI Build-Up for 18,612 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
$491.4K $26.40/SF
− Vacancy
−$41.8K −$2.24/SF
EGI
$449.6K $24.16/SF
− OpEx
−$134.9K −$7.25/SF
NOI
$314.7K $16.91/SF
Area
Miami-Dade County, FL
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
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%
$6,294,280
Cap Rate 7%
$4,495,914
Cap Rate 9%
$3,496,822
Alternative Uses
Best Use
Retail
$4.50M
$3.93M – $5.25M
NOI $314,714 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.44M
$8.26M – $11.02M
NOI $660,986 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
848
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33034, FL
22,850
Population
6,631
Households
3.4
Avg Household Size
34
Median Age
9%
College-Educated
65%
High-School Grad
1,173.1 sq mi
ZIP Area
19
Density / Sq Mi
$46,404
Median Household Income
$31,712
Median Earnings
$1,283
Median Rent
$310,700
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?
Showroom - 18,612 SF retail/showroom on 1.6 acres.
Where is this showroom located?
The property is located at 33493 S Dixie Hwy Homestead, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Premier location on 1.60 acres at a signalized corner on heavily trafficked South Dixie Highway.; Located directly between Home Depot and Walmart Supercenter.; Surrounded by major national retailers (Walmart, Home Depot, Best Buy, Target, etc.).
