2800 8th St Homestead, FL 33033-5695
Property profile & analytics
2800 8th St, Homestead, FL 33033-5695
- Outlet malls
- 16,534 SF
- 1.82 lot acres
Property ID
US18-0422853
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Walgreens Pharmacy / Pharmacy
- Walgreens / Pharmacy
- TD Bank ATM / Atm
- FedEx OnSite / Postal Service / Courier Service
Property Details for 2800 8th St
- Year built
- 2007
- Construction
- CONCRETE
- Lot size
- 1.82 lot acres
- Zone code
- PLANNED UNIT DEVELOPMENT
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- 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.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,660,000
- 6.5%
- $4,300,000
- 7%
- $3,995,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $5,739,000
Market price range: $2.75M - $5.74M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $4,190,000 Current use
- MEDICAL BUILDING
- $7,260,000 Change: +73% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $5,530,000 Change: +32% Conversion: Easy
- OFFICE BUILDING
- $5,075,000 Change: +21% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $4,745,000 Change: +13% Conversion: Moderate
- WAREHOUSE, STORAGE
- $3,535,000 Change: -16% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- 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
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$91,686
$1,344,275
$3,727,725
$5,072,000
-
$1,344,275
$3,727,725
$5,072,000
