Cap rates are the first thing most investors ask me about. Here's what I'm seeing in Miami-Dade and Broward plazas as we head into Q1 2027.
Where plaza cap rates sit
As of Q2, the average retail cap rate was 5.8% in Miami-Dade and 6.2% in Broward. For plazas specifically, Cushman & Wakefield puts neighborhood and strip centers at roughly 6.0% and 5.8% in Miami-Dade, and roughly 6.4% and 6.0% in Broward.
Buyers are still paying up. The average retail sale was $385/SF in Miami-Dade and $337/SF in Broward, and the two counties traded about $928M combined in the first half.
Vacancy and rents
Space is still tight too. Neighborhood centers are 3.7% vacant in Miami-Dade and 5.1% in Broward. Strip centers are 3.9% and 5.2%.
On rents, Miami-Dade neighborhood centers are asking about $45 full service and Broward about $35 NNN. Those are different bases, so don't line them up one to one.
The honest part
Neighborhood centers gave back space in the first half in both counties, and Broward had its slowest first half of leasing in 10 years. Not every center is winning.
My take on Broward vs. Miami-Dade
Broward gets you more yield and Miami-Dade gets you tighter occupancy. Either way, I'd stick with well located, grocery anchored centers with a good tenant mix, and underwrite each property on its own, not on the county average.
Q: Which county has higher plaza cap rates, Broward or Miami-Dade?
Broward. Neighborhood and strip centers run roughly 6.4% and 6.0% there, versus roughly 6.0% and 5.8% in Miami-Dade, where occupancy is tighter.
If you're looking for your next deal, I have on and off-market retail and industrial opportunities from $4M to $58M. Call 312-405-5400 or email sales@igorpresman.com.
Sources: Cushman & Wakefield and Lee & Associates Q2 2026, U.S. Census, Greater Miami CVB, Visit Lauderdale.
Igor Presman
Commercial Broker · Trybal Group
