2800 8th St Homestead, FL 33033-5695

Property Details for 2800 8th St

Year built

2007

Construction

CONCRETE

Lot size

1.82 lot acres

Property size

16,534 SF

Zone code

PLANNED UNIT DEVELOPMENT

Property type

Outlet malls

APN

10-7916-001-0096

APU

1079160010096

Description

This exceptional investment opportunity presents a fee-simple, 14,820 square-foot Walgreens, situated on a 1.81-acre lot in Homestead, Florida. The property boasts a newly executed 13-year absolute NNN lease (expiring August 31, 2035), providing a strong, long-term income stream. The lease includes a corporate guarantee from Walgreens (NYSE: WBA) and features 5% rent bumps every five years, ensuring consistent growth. Located at a hard-signalized intersection with over 43,400 vehicles daily, and strategically positioned along the Ronald Reagan Turnpike's entrance/exit ramps (75,600 vehicles daily), this property benefits from exceptional visibility and high traffic counts. The building, constructed in 2007, is an outparcel to a Publix-anchored center, further enhancing its desirability. Its proximity to a 147+ bed Baptist Health Homestead Hospital and a planned 20-acre mixed-use development with 350+ apartments and retail space adds significant value. The property's drive-thru pharmacy caters to high consumer demand. With a current NOI of $429,780 and a 6.50% cap rate, this is a compelling investment opportunity in a rapidly growing area, just 20 miles from Downtown Miami, in a state with no income tax. The lease includes twelve five-year options to extend, providing long-term security and potential for future appreciation. This single-tenant, 100% occupied property offers a rare combination of stability, growth potential, and a prime location.

Location Insight

City

Homestead

County

Miami-dade

State

Florida

Longitude

-80.4357

Latitude

25.4767

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments