Multi-Tenant Retail Strip
For Sale
Contact for pricing
29319-29363 SW 152nd Ave, Homestead, FL 33033
6.6% cap rate with 25 standard parking spaces plus overnight truck parking at a multi-tenant retail strip center.
Property Size18,691 SF
Lot Size1.61 Acres
Price / SF$299.61
Days on Market438
Property Features for 29319-29363 SW 152nd Ave
General Information
Standard status
Active
Size
18,691 SF
Total Parking Spaces
25
Lot size
1.61 Acres
Property subtype
RETAIL
Additional Details
Cap Rate
6.6%
Building Details
Tenancy
Multi
Listing Agency:
Lee & Associates | Miami
(305) 235-1500
Listed By:
Matthew Rotolante · License #3088290
(305) 490-6526
Source:
Moodyscre
Added: Jul 3, 2025
Changed: Aug 15
Last Checked: Sep 13 at 7:58AM
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 Lee & Associates | Miami
Investment Insights
Based on property information with market context.
Multi-tenant retail strip center totaling 18,691 SF featuring a diverse tenant mix. The offering is underpinned by a stated 6.6% cap rate supported by stable, in-place income from current tenants. Tenants called out include Boost Mobile and La Michoacana.
The property is positioned on ±1.61 acres with high visibility along SW 152nd Avenue. Parking includes 25 standard spaces plus overnight truck parking, supporting both day-to-day customer access and additional vehicle use.
Located at 29319–29363 SW 152nd Ave in Homestead, FL, the center is described as the only retail center in Leisure City, offering a single-center option within that area.
The property is positioned on ±1.61 acres with high visibility along SW 152nd Avenue. Parking includes 25 standard spaces plus overnight truck parking, supporting both day-to-day customer access and additional vehicle use.
Located at 29319–29363 SW 152nd Ave in Homestead, FL, the center is described as the only retail center in Leisure City, offering a single-center option within that area.
Key Highlights
- 18,691 SF multi‑tenant retail strip center
- ±1.61 acres site
- High visibility along SW 152nd Avenue
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
$316,050
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
5.64%
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%
$6,321,000
$6.3M
Cap Rate 7%
$4,515,000
$4.5M
Cap Rate 9%
$3,511,667
$3.5M
Market Conditions
NOI Build-Up for 18,691 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
$493.4K $26.40/SF
− Vacancy
−$41.9K −$2.24/SF
EGI
$451.5K $24.16/SF
− OpEx
−$135.4K −$7.25/SF
NOI
$316.0K $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%
$6,321,000
Cap Rate 7%
$4,515,000
Cap Rate 9%
$3,511,667
Alternative Uses
Best Use
Retail
$4.52M
$3.95M – $5.27M
NOI $316,050 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.48M
$8.30M – $11.06M
NOI $663,791 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 33033, FL
66,871
Population
21,426
Households
3.1
Avg Household Size
34
Median Age
23%
College-Educated
79%
High-School Grad
22.3 sq mi
ZIP Area
2,999
Density / Sq Mi
$66,662
Median Household Income
$37,018
Median Earnings
$1,648
Median Rent
$364,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Strip mall - 6.6% cap rate with 25 standard parking spaces plus overnight truck parking at a multi-tenant retail strip center.
Where is this strip mall located?
The property is located at 29319-29363 SW 152nd Ave Homestead, FL.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: 18,691 SF multi‑tenant retail strip center; ±1.61 acres site; High visibility along SW 152nd Avenue
