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Caribbean Shoppes 19501-19577 NW 2nd Ave 27,872 SF 100% Leased Retail Building Miami, FL 33169 $8,975,000 ($322.01/SF) 6.85% 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. Spanning 27,872 square feet of building space and 1.68 acres of land, this plaza is a progressively modern retail development along the 3-mile US Highway 441 commercial corridor. The property boasts a brand-new and stunning modern facade of ACM aluminium and granite, and a recently repaved parking lot.
Exceptional Return & Short-Term Upside:
6.85% CAP Rate:Caribbean Shoppes offers an attractive 6.85% CAP rate, signaling a robust initial return for investors.
Brand-New & Modern:This 26,069 sq ft retail center (on 73,260 sq ft of land) is a progressively modern development, "Icon Plaza," along the high-traffic 3-mile Highway 441 corridor. Its recent construction provides immediate upside and minimizes deferred maintenance.
Significant Lease Upside Potential:Critical for short-term growth, the property presents opportunities toadjust short-term leases to market ratesor strategicallyreplace existing tenants with new, higher-performing businessesto significantly enhance rental income and property value in the near future.
Strategic Location for Sustained Growth & Stable Income:
Unrivaled Accessibility:Situated just north of the Golden Glades interchange, it connects directly to I-95, Florida's Turnpike, and State Routes 441 & 826, ensuring excellent accessibility and ease of travel throughout South Florida.
.
Maintaining such longevity and consistency in business is no small feat, and it's a testament to the resilience, hard work, and dedication of both the tenants and the management of Caribbean Shoppes. The tenants' diverse offerings complement each other, creating a vibrant and attractive destination for shoppers.
Caribbean Shoppes lies north of the Golden Glades interchange, connecting Interstate 95, Florida's Turnpike, and State Routes 441 and 826. This property offers visitors excellent accessibility and ease of travel throughout South Florida. Situated in Miami Gardens, Caribbean Shoppes is surrounded by a diverse working and middle-class community of nearly 701,500 residents within a 15-minute drive radius. Neighboring points of interest include Aventura Mall, Hard Rock Stadium, St. Thomas University, Florida Memorial University, Interstate 95, the 836 Expressway, and surrounding businesses, services, and restaurants along US Highway 441.
Exceptional Return & Short-Term Upside:
6.85% CAP Rate:Caribbean Shoppes offers an attractive 6.85% CAP rate, signaling a robust initial return for investors.
Brand-New & Modern:This 26,069 sq ft retail center (on 73,260 sq ft of land) is a progressively modern development, "Icon Plaza," along the high-traffic 3-mile Highway 441 corridor. Its recent construction provides immediate upside and minimizes deferred maintenance.
Significant Lease Upside Potential:Critical for short-term growth, the property presents opportunities toadjust short-term leases to market ratesor strategicallyreplace existing tenants with new, higher-performing businessesto significantly enhance rental income and property value in the near future.
Strategic Location for Sustained Growth & Stable Income:
Unrivaled Accessibility:Situated just north of the Golden Glades interchange, it connects directly to I-95, Florida's Turnpike, and State Routes 441 & 826, ensuring excellent accessibility and ease of travel throughout South Florida.
.
Maintaining such longevity and consistency in business is no small feat, and it's a testament to the resilience, hard work, and dedication of both the tenants and the management of Caribbean Shoppes. The tenants' diverse offerings complement each other, creating a vibrant and attractive destination for shoppers.
Caribbean Shoppes lies north of the Golden Glades interchange, connecting Interstate 95, Florida's Turnpike, and State Routes 441 and 826. This property offers visitors excellent accessibility and ease of travel throughout South Florida. Situated in Miami Gardens, Caribbean Shoppes is surrounded by a diverse working and middle-class community of nearly 701,500 residents within a 15-minute drive radius. Neighboring points of interest include Aventura Mall, Hard Rock Stadium, St. Thomas University, Florida Memorial University, Interstate 95, the 836 Expressway, and surrounding businesses, services, and restaurants along US Highway 441.
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
$8,975,000
Price Per SF
$322.01
Cap Rate
6.85%
NOI
$614,743
Percent Leased
100%
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
Walk Score®
Very Walkable (74)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
22,004
188,657
531,965
1,069,219
2029 Population
21,426
185,616
525,085
1,082,406
2024-2029 Projected Population Growth
-2.6%
-1.6%
-1.3%
1.2%
Median Age
41.6
38.7
40.1
41.5
College Degree + Higher
24%
21%
22%
17%
Daytime Employees
9,937
64,739
216,596
445,873
Total Businesses
1,647
9,574
32,111
70,886
Average Household Income
$63,810
$68,635
$72,016
$77,796
Median Household Income
$49,847
$52,528
$52,454
$56,079
Total Consumer Spending
$190.8M
$1.6B
$4.9B
$10.6B
2024 Households
7,607
62,245
185,426
387,117
Average Home Value
$265,788
$322,131
$346,729
$396,076
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.
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Caribbean Shoppes | 19501-19577 NW 2nd Ave
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