Cap Rate
5.7%
Price Per SF
$414
Gross SQFT
25,819
Year Built
1999
Occupancy
100%
NOI
$613,491
Property Type
Shopping Centers
ADDITIONAL LISTING AGENT
INVESTMENT HIGHLIGHTS
- PRIME LOCATION NEAR HARD ROCK STADIUM – Located just one mile from Hard Rock Stadium, Honey Hill Plaza benefits from year-round traffic generated by NFL games, concerts, and major events. This consistent influx of visitors drives steady foot traffic and boosts tenant performance.
- VALUE ADD OPPORTUNITY WITH 89% RENT UPSIDE – There is significant potential for increased income if Family Dollar vacates. The space can be subdivided and re-leased at current market rates, with an estimated 89 percent increase in base rent.
- DENSE AND GROWING TRADE AREA – The property is situated in a densely populated area with over 455,000 residents and an average household income of $73,000 within a 5-mile radius. Strong demographics support long-term tenant stability and high consumer demand.
- STRONG LOCAL ECONOMY WITH STRATEGIC GROWTH INITIATIVES – Miami Gardens is undergoing major economic growth, including a 35-acre mixed-use development with residential, hospitality, and entertainment components. These initiatives are fueling job creation and increasing retail demand in the area.
- HIGH-TRAFFIC RETAIL CORRIDOR – Honey Hill Plaza sits along NW 37th Avenue with over 25,000 vehicles per day passing the site. Its prominent positioning provides strong visibility and access in one of South Florida’s most active retail corridors.
- NO STATE INCOME TAX I BUSINESS-FRIENDLY ENVIRONMENT – Located in Florida, one of only nine U.S. states with no state income tax, investors benefit from a favorable tax environment. The state’s pro-business policies continue to attract both residents and corporations seeking long-term economic advantages.
Broker of Record
- Kyle Matthews
- License No. CQ1066435 (FL)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203