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    Palmetto Plaza
    $33,600,000
    Plus Miami Gardens, FL
    Offering Memorandum
    Lease Type
    Varied
    Cap Rate
    8.51%
    Property Type

    Retail

    Building Size
    175,045 SF
    NOI
    $2,858,516
    Land Area
    11.92 AC
    Status
    Sold
    Michael Zimmerman
    Michael Zimmerman
    Founder
    Property Highlights
    Prime Retail Location

    Palmetto Plaza is a grocery-anchored retail shopping center located in one of the densest, high-traffic retail corridors in all of Miami-Dade County. The property sits on a total of 11.92 acres of land just south of Palmetto Expressway, one of the busiest traffic corridors in South Florida. (More than 143,500 cars travel on Palmetto Expressway daily.) Additionally, Palmetto Plaza is surrounded by many strong retailers, including a Home Depot-anchored shopping center to the north and an Office Depot-anchored shopping center across the street.

    Quality Investment Opportunity

    Palmetto Plaza currently houses 38 businesses and boasts a healthy mix of national, franchised and local tenants. The 175,045-square-foot property is anchored by ALDI and includes many investment-grade tenants like Dunkin’ Donuts, Sherwin-Williams, Dollar Tree, Hertz and Regions Bank. The current owner invested over $6.2 million in capital and leasehold improvements to the center, including repainting, roof replacement and recovery, new facades, new HVAC units, four new LED signs, new landscaping and new security cameras.

    Major Metropolitan Market

    The shopping center is just 15 miles from the heart of downtown Miami, which is known as the cultural, economic and financial center of South Florida. Visitors to the site have easy access to Interstate 95 and Florida’s Turnpike, along with Miami International Airport, the third-busiest airport in the country. More than 510,000 people live within five miles of Palmetto Plaza, and the Greater Miami area is home to more than 6.1 million.

    Palmetto Plaza
    Miami Gardens, FL
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