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1400 NE 8th StHomestead, FL 33033
Sunnylea Plaza
Asset ClassRetail
Retail SF22,350
Year Built: 2020Retail Occupancy: 88%Land: 3 AcresAccess Data Room
The Sunnylea Plaza offering presents investors the opportunity to acquire a very well-situated retail center in one of Miami’s most rapidly growing areas that offers immediate upside through outparcel and inline space lease-up.
overview of deal

Overview

TSCG, as the exclusive agent for the Owner, is pleased to present Sunnylea Plaza for sale in Homestead, Florida. Strategically located on Campbell Drive, at a signalized intersection 1.1 miles west of the Florida Turnpike, Sunnylea Plaza is very well-positioned to serve a wide and rapidly growing trade area. The Property totals 22,350 square feet (“SF”) comprised of a street-front building that totals 8,000 square feet leased entirely to VivaMas Medical Center and a separate building with Iron Fitness, Cold Stone Creamery and other complementary tenants. The property offers investors significant upside potential through the ground-lease or development of an outparcel fronting Campbell Drive that can accommodate a building of up to 3,500 SF with a drive-thru, as well as the lease-up of two inline vacancies.

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Investment Highlights

Deal Size
$12.32 M
Cap Rate
5%
  • Ideal location on Campbell Drive, between Florida Turnpike and US Highway 1
  • Signalized intersection with 32,500 AADT
  • Class A retail center developed in 2020
  • Substantial upside opportunity through outparcel development or ground-lease
  • 13.67% 3-Year CAGR
  • Sewage Pump Moratorium was recently lifted, paving the way for new leasing opportunities.
  • Inline space lease-up presents additional upside
  • Very dense population of 137,573 residents within a 10-minute drive and AHHI of $85,704
  • One of Miami’s fastest-growing areas
  • Excellent visibility from Campbell Drive
  • Offered free and clear of financing

 

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1400 NE 8th StHomestead, FL 33033

Sales Team

300 Galleria Pkwy SE, Atlanta, GA 30339

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Listing provided by Revere CRE