Rafael Diaz Purchases Retail Center In Homestead Florida For $5.95 Million
29645 Dixie Highway
$5,950,000
$283/SF
Building Size
20,970 SF
Asset Type
Retail
Closing
Mar 15, 2026
About this deal
AI
This retail asset, located at 29645 Dixie Highway in the market of Homestead, has been sold for $5,950,000. The property comprises 20,970 square feet and is situated on a 95,241 square foot lot, offering considerable redevelopment potential due to its proximity to US-1 and the updated busway station.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,950,000
- Square Footage: 20,970 sqft
- Address: 29645 Dixie Highway
- Market: Homestead
- Buyer: Rafael Diaz
- Seller: Robert Gallaher
- Buyer’s Representative: Michael Fernandez & Mario Fernandez - Florida Realty of Miami
- Seller’s Representative: Juan Moscoso - The Hype Real Estate Group
- Price Per Square Foot: $283
This transaction marks another successful deal in Homestead, Florida, facilitated by the involved representatives, highlighting the effectiveness of their roles in connecting the buyer and seller in this off-market sale.
Players
Homestead Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.67%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93