Best Buy-Anchored Retail
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33590 S DIXIE HWY, Florida City, FL 33034
A Best Buy store anchors Florida City Center on the South Dixie Highway commercial corridor.
Property Size30,000 SF
Price / SF$343.33
Days on Market5
Property Features for 33590 S DIXIE HWY
General Information
Standard status
Active
Size
30,000 SF
Property subtype
Retail
Site & Location
Anchor Co-Tenants
Mattress Firm, AutoZone, Bank of America, Aldi, Panda Express, Supercuts, Jimmy John's
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
SURMOUNT
Listed By:
Gabriel Britti · License #FL SL3211804
(786) 522-7017
Source:
Crexi
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 2:23PM
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 SURMOUNT
Investment Insights
Based on property information with market context.
A 30,000-square-foot Best Buy occupies space in Florida City Center, a power center in Florida City, Florida. The store is part of a tenant mix that includes Mattress Firm, AutoZone, Bank of America, Aldi, Panda Express, Supercuts and Jimmy John's. Walmart, BJ's Wholesale Club and The Home Depot are also identified in the nearby trade area.
The property is at 33590 South Dixie Highway (US-1), near the Florida Turnpike and a signalized intersection. The Turnpike interchange carries more than 52,600 vehicles per day, while South Dixie Highway records over 31,000 vehicles per day. The corridor also serves travelers heading toward the Florida Keys and Everglades National Park.
Within one mile, population was 12,654 in 2020, projected at 15,177 in 2024, and forecast to reach 16,684 by 2029. Average household income within five miles is $82,865. Nearby residential communities and hotels contribute to the surrounding trade area.
The property is at 33590 South Dixie Highway (US-1), near the Florida Turnpike and a signalized intersection. The Turnpike interchange carries more than 52,600 vehicles per day, while South Dixie Highway records over 31,000 vehicles per day. The corridor also serves travelers heading toward the Florida Keys and Everglades National Park.
Within one mile, population was 12,654 in 2020, projected at 15,177 in 2024, and forecast to reach 16,684 by 2029. Average household income within five miles is $82,865. Nearby residential communities and hotels contribute to the surrounding trade area.
Key Highlights
- 30,000‑square‑foot Best Buy store
- Located in Florida City Center with Mattress Firm, AutoZone, Bank of America, Aldi, Panda Express, Supercuts and Jimmy John's
- Turnpike interchange traffic exceeds 52,600 vehicles per day; South Dixie Highway carries over 31,000 vehicles per day
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
$507,276
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
4.93%
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%
$10,145,520
$10.1M
Cap Rate 7%
$7,246,800
$7.2M
Cap Rate 9%
$5,636,400
$5.6M
Market Conditions
NOI Build-Up for 30,000 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
$792.0K $26.40/SF
− Vacancy
−$67.3K −$2.24/SF
EGI
$724.7K $24.16/SF
− OpEx
−$217.4K −$7.25/SF
NOI
$507.3K $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%
$10,145,520
Cap Rate 7%
$7,246,800
Cap Rate 9%
$5,636,400
Alternative Uses
Best Use
Retail
$7.25M
$6.34M – $8.45M
NOI $507,276 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.22M
$13.32M – $17.76M
NOI $1,065,419 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
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?
Retail space - A Best Buy store anchors Florida City Center on the South Dixie Highway commercial corridor.
Where is this retail space located?
The property is located at 33590 S DIXIE HWY Florida City, FL.
What is the asking price?
The asking price for this property is $10,300,000.
What are key features of this property?
This property features: 30,000‑square‑foot Best Buy store; Located in Florida City Center with Mattress Firm, AutoZone, Bank of America, Aldi, Panda Express, Supercuts and Jimmy John's; Turnpike interchange traffic exceeds 52,600 vehicles per day; South Dixie Highway carries over 31,000 vehicles per day
