Overview
Franklin Street, as exclusive broker, is pleased to present the opportunity to acquire Paraiso Plaza II, a 34,013 SF strip center 100% leased to a diverse mix of essential service retail tenants like Subway and medical tenants in Hialeah, FL. The property is ideally located adjacent to a Publix owned and anchored Shopping Center and McDonald’s outparcel, with access to Hialeah Gardens Blvd which has exits/entrances to I-75 that sees over 155,000 VPD.
Paraiso Plaza II offers investors stabilized cash flow from both local and national tenants, with healthy rent increases throughout their term. There is tremendous upside in bringing rents to market throughout the hold period, in a market with a 1% Vacancy Rate. This is a unique opportunity to acquire a Class A Strip Center in the Miami MSA, with 40% below market rents and tremendous location.
Investment Highlights
Miami MSA, Retail Strip Center
- 100% Occupied Strip Center, seconds from I-75 in Hialeah, FL.
Below Market Rents
- Average rent at the center - $25.07 PSF
- Average Market rent - $35 PSF
- Percentage Difference – 40%
Zero Capital Expenditures Needed
- Roof replaced & under warranty with a full remodel in 2024
Internet Resistant Tenant Mix
- Great mix of Retail Tenants like Subway and Medical Tenants like Pasteur Medical
Outparcel Included
- Pasteur occupies 100% of the 7,200 SF Outparcel Building, which has an existing drive-thru window
Great Access and Location
- Lighted intersection into 84th St off Hialeah Gardens Blvd, which sees 30k+ VPD and seconds from I-75, which sees 155k+ VPD
Strong Neighboring Retail Mix
- Located adjacent to a Publix Anchored/Owned center which does $57M in Sales
- Located adjacent to McDonald’s, which is top 94% in FL for visits and #3 within a 15 mile radius
Beneficial Parking Layout
- The center offers 173 Parking Spaces, which is a 5 / 1,000 SF Ratio
Sales Team
