28830-28876 S Dixie Hwy
Homestead, FL 33033

Marcus & Millichap is pleased to present Madeira Center, a 20,780-square foot shopping center located on South Dixie Highway (US-1) in Miami-Dade County. The property is less than one block south of SW 288th Street (Biscayne Drive), which connects to South Dade Senior High to the west and the Florida Turnpike ramp to the east. The area has experienced population growth of 14% over the past six years, and this growth trend in population and trafc is projected to continue. The property is surrounded by many recently developed and under-construction multifamily properties, which will further add to the population and trafc, further the need for neighborhood retailers, and provide upward pressure on retail rental rates within this already low-vacancy submarket. Built in 2007, Madeira Center is comprised of 17 small bays, many of which are just 750 square feet each, which allows for a wide variety of retailers based on store layout and size requirements. The property is currently 94% occupied, allowing for steady NOI growth through the aggressive annual rent increases built into the existing leases and renting of the remaining vacant spaces. The existing tenant base consists primarily of service providers which are not affected by today’s trend towards online sales. Various tenant uses include restaurants, health care, legal and professional ofces, a preschool, hair / beauty and pet services, amongst others. Madeira Center is an excellent opportunity to acquire a stable, cash owing shopping center in a high-growth retail corridor within Miami-Dade County.