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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    28830 S Dixie Hwy Homestead, FL 33033

    • Community centers
    • 22,745 SF
    • 1.81 lot acres
    For Sale
    View listing
    $479,000
    Last Sale
    Feb 18, 2021
    $4,900,000
    Value Estimations
    Cap Rate Potential
    7.8%
    Community centers
    Location Intelligence
    Property ID
    US18-1617715
    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.

    Current Use by Public Records

    • Maderia Plaza / Shopping Mall

    Property Details for 28830 S Dixie Hwy

    Year built
    2007
    Construction
    CONCRETE
    Lot size
    1.81 lot acres
    Property size
    22,745 SF
    Zone code
    6061
    Property type
    Community centers
    APN
    30-7905-035-0010
    APU
    3079050350010

    Description

    Madeira Plaza offers exceptional retail space in the thriving Homestead, Florida market. This 22,745 square foot commercial building, constructed in 2007, presents a fantastic opportunity for businesses seeking a high-visibility location. Currently, there are 3,462 square feet of vacant space available, divisible into units ranging from a minimum of 750 square feet to a maximum contiguous space of 1,533 square feet. The property is situated at 28830 S Dixie Hwy, Homestead, FL 33033, in Miami-Dade County, offering convenient access and high traffic visibility. The building's inline commercial structure is ideal for a variety of retail businesses. This is a multi-tenant property, providing a vibrant and collaborative environment. The available space is perfect for businesses seeking a flexible and adaptable layout to suit their specific needs. The location in Homestead provides access to a strong local customer base and offers significant growth potential. This is an excellent opportunity to establish or expand your retail presence in a dynamic and rapidly developing area. The property's modern design and convenient location make it an attractive option for businesses seeking a high-impact retail space. Serious inquiries are encouraged to explore this exceptional opportunity further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,645,000
      ML approach
      $5,710,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,300,000
      6.5%
      $6,735,000
      7%
      $6,255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,127,000
      Market price range: $3.67M - $10.6M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $6,530,000
      Current use
      COMMERCIAL (GENERAL)
      $7,605,000
      Change: +16% Conversion: Easy
      OFFICE BUILDING
      $6,980,000
      Change: +7% Conversion: Moderate
      RETAIL STORES
      $5,765,000
      Change: -12% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Homestead
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.4485
    Latitude
    25.4979
    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
    $75,387
    $2,249,733
    $2,350,267
    $4,600,000
    -
    $2,249,733
    $2,350,267
    $4,600,000

    Comparable in this City

    • Value Estimation
      $1,515,000
      11,960 SF

      2925 8th St

      MINI-MALL • 11,960 SF
      2925 8th St, Homestead, FL 33033-5960
      View Details
    • Value Estimation
      $5,250,000
      34,626 SF

      28945 Dixie Hwy

      MINI-MALL • 34,626 SF
      28945 Dixie Hwy, Homestead, FL 33033-2407
      View Details
    • Value Estimation
      $3,330,000
      26,489 SF

      14118 288th St

      MINI-MALL • 26,489 SF
      14118 288th St, Homestead, FL 33033-1864
      View Details
    • Value Estimation by Request
      11,000 SF

      137Th Ave

      Lifestyle centers • 11,000 SF
      0 137Th Ave, Homestead, FL 33033
      View Details
    • Value Estimation by Request
      25,850 SF

      1400-1440 8Th St

      Lifestyle centers • 25,850 SF
      1400-1440 8Th St, Homestead, FL 33033
      View Details
    • Value Estimation
      $955,000
      114,525 SF

      30318 Old Dixie Hwy

      MINI-MALL • 114,525 SF
      30318 Old Dixie Hwy, Homestead, FL 33033-3215
      View Details

    Similar Nearby for Sale

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      Retail Strip Center For Sale

      Multi-tenant retail strip center with strong income potential.
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      Established Restaurant Business For Sale

      Thriving Caribbean restaurant with loyal customer base and growth potential.
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    • $170,000

      Homestead Retail Business for Sale

      High-Profit Retail Space, Owner Retiring
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Campbell Drive

      Retail space with high visibility and ample parking available for rent.
      1850 Campbell Dr, Homestead, FL 33033
      View Details
    • $24 SF/Yr
      8,400 SF

      Retail Space Near Supermarket Entrance

      8,400 SF retail space in busy shopping plaza.
      28925 S Dixie Hwy, Homestead, FL 33033
      View Details
    • $30 SF/Yr
      18,691 SF

      Leisure City End-Cap Retail Space

      End-cap retail space in Leisure City's only retail center.
      29345 SW 152Nd Ave, Homestead, FL 33033
      View Details
    • Contact for pricing
      114,525 SF

      Homestead Retail Space - 3 Acres

      Prime Homestead location, large retail space available.
      30318 Old Dixie Hwy, Homestead, FL 33033
      View Details
    • $45 SF/Yr
      41,495 SF

      Campbell Shoppes Retail Space Available

      Homestead, FL Retail Space for Lease
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      View Details
    • $34 SF/Yr
      1,431 SF

      Homestead Retail/Office Space Available

      Customizable retail/office spaces in Homestead, FL, for lease.
      600-650 Ne 22Nd Ter, Homestead, FL 33033
      View Details
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    28830 S Dixie Hwy
    Homestead, FL 33033
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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