19501-19577 NW 2nd Ave - Storefront FOR SALE


Miami, FL 33169
$9,125,000 USD
786-321-2764
19501-19577 NW 2nd Ave, Miami, FL for Sale
$9,125,000 USD
Storefront - FOR SALE
1/19
null | 7.86% Cap Rate

19501-19577 NW 2nd Ave
Miami, FL 33169


HIGHLIGHTS

  • Caribbean Shoppes is the Highway 441 commercial corridor’s iconic retail shopping center, with sizable units to accommodate various tenant needs.
  • Fully leased with a 22-tenant roster, this prime shopping center offers a stable investment structure and showcases the area's key positioning.
  • Surrounded by Miami Gardens’ diverse working- and middle-class community near the Golden Glades interchange, Hard Rock Stadium, and the Calder Casino.
  • Strategically located 15 minutes from the Aventura Mall, five minutes away from Hallandale Boulevard and 10 minutes away from Hollywood Boulevard.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$9,125,000 USD

PRICE/SF

$354 USD /SF

CAP RATE

7.86%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Caribbean Shoppes

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

80

LAND DETAILS

LAND ACRES

1.68 AC

LAND SF

73,181 SF

ZONING

BU-1A, Miami

APN/PARCEL ID

34-2101-012-1330,34-2101-013-2622,34-2101-013-2630

ASK ABOUT THIS PROPERTY

Jaime EsquenaziKeyes CompanyMore Info
786-321-2764

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Jaime EsquenaziKeyes CompanyMore Info
786-321-2764

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.