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Caribbean Shoppes 19501-19577 NW 2nd Ave 27,872 SF 99% Leased Retail Building Miami, FL 33169 $9,125,000 ($327.39/SF) 7.86% Cap Rate
Investment Highlights
- Caribbean Shoppes is the Highway 441 commercial corridor’s iconic retail shopping center, with sizable units to accommodate various tenant needs.
- Surrounded by Miami Gardens’ diverse working- and middle-class community near the Golden Glades interchange, Hard Rock Stadium, and the Calder Casino.
- Fully leased with a 22-tenant roster, this prime shopping center offers a stable investment structure and showcases the area's key positioning.
- Strategically located 15 minutes from the Aventura Mall, five minutes away from Hallandale Boulevard and 10 minutes away from Hollywood Boulevard.
Executive Summary
Caribbean Shoppes at 19501 NW 2nd Avenue is a well-maintained retail center in Miami, encompassing approximately 27,872 square feet of building space on 1.68 acres. Positioned along the 3-mile US Highway 441 commercial corridor, the plaza represents a progressively modern retail development featuring a brand-new façade of ACM aluminum and granite, along with a recently repaved parking lot.
The property offers an attractive 7.2% CAP rate, with a projected increase to 7.8% by 2026, signaling a strong initial return and clear near-term upside. Its modern construction minimizes deferred maintenance while creating opportunities to enhance value through strategic lease adjustments or replacing existing tenants with higher-performing businesses, ultimately driving increased rental income and property value.
Maintaining such longevity and consistency in business is a testament to the resilience, hard work, and dedication of both the tenants and Caribbean Shoppes' management. The diverse tenant mix complements itself well, creating a vibrant and appealing retail destination that continues to attract steady consumer traffic.
Located just north of the Golden Glades interchange, Caribbean Shoppes provides direct access to Interstate 95, Florida's Turnpike, and State Routes 441 and 826, ensuring excellent connectivity throughout South Florida. Situated in Miami Gardens, the property is surrounded by a diverse working- and middle-class population of nearly 701,500 residents within a 15-minute drive. Nearby points of interest include Aventura Mall, Hard Rock Stadium, St. Thomas University, Florida Memorial University, and numerous businesses, services, and restaurants along the US Highway 441 corridor.
The property offers an attractive 7.2% CAP rate, with a projected increase to 7.8% by 2026, signaling a strong initial return and clear near-term upside. Its modern construction minimizes deferred maintenance while creating opportunities to enhance value through strategic lease adjustments or replacing existing tenants with higher-performing businesses, ultimately driving increased rental income and property value.
Maintaining such longevity and consistency in business is a testament to the resilience, hard work, and dedication of both the tenants and Caribbean Shoppes' management. The diverse tenant mix complements itself well, creating a vibrant and appealing retail destination that continues to attract steady consumer traffic.
Located just north of the Golden Glades interchange, Caribbean Shoppes provides direct access to Interstate 95, Florida's Turnpike, and State Routes 441 and 826, ensuring excellent connectivity throughout South Florida. Situated in Miami Gardens, the property is surrounded by a diverse working- and middle-class population of nearly 701,500 residents within a 15-minute drive. Nearby points of interest include Aventura Mall, Hard Rock Stadium, St. Thomas University, Florida Memorial University, and numerous businesses, services, and restaurants along the US Highway 441 corridor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
27,872 SF
Building Class
B
Year Built/Renovated
1956/2019
Price
$9,125,000
Price Per SF
$327.39
Cap Rate
7.86%
NOI
$717,225
Percent Leased
99%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.38
Lot Size
1.68 AC
Zoning
BU-1A, Miami - Limited business use
Parking
80 Spaces (2.87 Spaces per 1,000 SF Leased)
Frontage
91’ on 195th St
Amenities
- Bus Line
- Pylon Sign
- Restaurant
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Busy Shopping Center with different Tenants offering variety of services and products which create an attractive consumer center.
| Space | Size | Space Use | Position | Available |
| 218 | 230 SF | Office/Medical | - | Now |
218
| Size |
| 230 SF |
| Space Use |
| Office/Medical |
| Position |
| - |
| Available |
| Now |
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Map
218
| Size | 230 SF |
| Space Use | Office/Medical |
| Position | - |
| Available | Now |
Busy Shopping Center with different Tenants offering variety of services and products which create an attractive consumer center.
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Demographics
Demographics
1 mile
3 mile
5 mile
15 min drive
2025 Population
24,443
203,193
573,150
1,144,382
2030 Population
26,206
217,425
613,878
1,232,910
2025-2030 Projected Population Growth
7.2%
7.0%
7.1%
7.7%
Median Age
41.9
39.1
40.5
41.6
College Degree + Higher
24%
21%
22%
17%
Daytime Employees
9,842
61,885
210,779
434,602
Total Businesses
1,668
9,362
31,458
69,701
Average Household Income
$79,941
$82,282
$85,456
$90,042
Median Household Income
$61,893
$64,326
$64,522
$66,938
Total Consumer Spending
$224.4M
$1.9B
$5.5B
$11.7B
2025 Households
8,444
66,964
199,938
414,947
Average Home Value
$385,445
$429,111
$457,330
$500,404
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Wendy's | - | - | 3 min walk |
| La Granja | Latin American | - | 2 min walk |
| Subway | - | - | 4 min walk |
| Donna's Caribbean | Caribbean | $$$ | 5 min walk |
| Tony's Pizza | Pizza | $ | 5 min walk |
| Stadium Diner | Diner | $$ | 6 min walk |
Retail |
||
|---|---|---|
| MetroPCS | Wireless Communications | In Building |
| The UPS Store | Business/Copy/Postal Services | 4 min walk |
| GameStop | Game Store | 4 min walk |
| Foot Locker | Shoes | 4 min walk |
| Bank of America | Bank | 5 min walk |
| CVS | Drug Store | 5 min walk |
Hotels |
|
|---|---|
| aloft Hotel |
207 rooms
9 min drive
|
| AC Hotels by Marriott |
233 rooms
10 min drive
|
| Hilton |
208 rooms
11 min drive
|
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $7,555,291 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$7,555,291
Sale Advisor
Sale Advisor
Jaime Esquenazi, Sales Associate
Working for The Keyes Company , Jaime Esquenazi has helped find the right tenants for his clients for the past 15. years. Mostly working with office, retail, and land real estate, Jaime tends to handle the sale and lease deals for the landlords. He is a hard-working Realtor who focuses on client demands and does everything he can to reach his objective and satisfy his clients. He truly represents The Keyes Company slogan: Keyes is about more than just real estate – it’s about taking care of people.
1 of 20
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Caribbean Shoppes | 19501-19577 NW 2nd Ave
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