Best Buy NNN Leased
33590 S Dixie Hwy Homestead, FL 33034
33590 S Dixie Hwy, Homestead, FL, 33034
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For Sale
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NNN leased Best Buy with corporate guarantee and rental increases.
Property Size30,000 SF
Lot Size3.29 Acres
Price / SF$333.33
Days on Market711
Property Features for 33590 S Dixie Hwy
General Information
- Standard status
- Active
- Size
- 30,000 SF
- Lot size
- 3.29 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2008
Listing Agency
Marcus & Millichap
(786) 306-7259
Listed by
Jonathan De La Rosa · License #SL3639184
Source
Crexi
Added: Aug 6, 2024 Checked: Jul 16 at 9:35 am
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This commercial property features a NNN leased, investment-grade Best Buy, guaranteed by a corporate entity with an S&P rating of BBB+. The property is located at 33590 S Dixie Hwy, Florida City, FL 33034. The asset has a lease with over 4 years remaining, along with two five-year options. The building encompasses 30,000 square feet and is situated on a 3.29-acre lot zoned C-2. The property is strategically located at a signalized corner off US-1, which sees 40,500 vehicles daily. Its location near the Florida Turnpike, with over 50,300 vehicles daily, enhances accessibility. The property is surrounded by a mix of retailers, including Walmart, Aldi, Starbucks, Home Depot, BJ's Wholesale, and Nike Outlet Mall. The NNN lease structure offers a secure investment opportunity, with 15% rental increases every five years. Located in a densely populated area of Florida City, the site has an infill population of 87,982 residents within a three-mile radius. There are nearly 4,000 residential units proposed in the area, which may provide a steady customer base.
Key Highlights
- NNN leased Best Buy with corporate guarantee (S&P: BBB+).
- Located on a signalized corner off US‑1 with high traffic volume.
- Remaining lease term of 4+ years with options and rental increases.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $792.0k | $26.40 |
| − Vacancy | −$67.3k | −$2.24 |
| EGI | $724.7k | $24.16 |
| − OpEx | −$217.4k | −$7.25 |
| NOI | $507.3k | $16.91 |
30,000 SF · lease $26.40/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$7.25M
$6.34M – $8.45M
NOI $507,276 @ 7.0% cap · market cap 5.07%
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 10.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Geek Squad
Tech Support Center
Best Buy
Electronics & Wireless Store
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FAQs
What type of property is this?
Retail space - NNN leased Best Buy with corporate guarantee and rental increases.
Where is this retail space located?
The property is located at 33590 S Dixie Hwy Homestead, FL.
What is the asking price?
The asking price for this property is $9,999,999.
What are key features of this property?
This property features: NNN leased Best Buy with corporate guarantee (S&P: BBB+).; Located on a signalized corner off US‑1 with high traffic volume.; Remaining lease term of 4+ years with options and rental increases.
