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Shopping Strip

Red Road Plaza

400 W 29th St, Hialeah, FL 33012

Listing Price: $4,900,000

Cap Rate
5.16%
Gross SF
18,038
Rentable SF
18,038
Price/Gross SF
$271.65
Lot Size
0.92 acres
Year Built
1966

Investment Overview

Marcus & Millichap is proud to exclusively market the Red Road Plaza, a 18,038 square foot neighborhood retail strip center located on the south west corner of busy W 29th street and Red Road (NW 57th Avenue) in the heart of Hialeah, one of Miami-Dade counties most dense and rapidly growing submarkets. The property has excellent visibility and frontage, and benefits from a daily traffic count of over 42,000 cars. Anchored by Aamco Transmissions, a tenant that has occupied the space for almost 20 years, the center is 100% occupied, with multiple short term below market rents. Red Road Plaza has eleven total tenants, with almost half of them having occupied the center for over 10 years. The property sits directly across from a Presidenté Supermarket anchored shopping center and is also surrounded by very dense residential. This portion of Hialeah, just minutes north of Busy Okeechobee Boulevard is incredibly dense, with over 207,000 people living within a three mile radius of the subject property. Hialeah continues to be one of the most densely populated municipalities in the entire state of Florida, with a growing amount of Cuban American and Latin American residents living in the immediate area. This population growth continues to drive the demand for retail and the increase in rental rates within the submarket. This is an incredible opportunity to own a larger neighborhood strip in one of the top municipalities in Miami Dade County. with upside through the ability to turn over short term leases immediately.

Investment Highlights

  • 100% Occupied Hialeah, FL (Miami) Retail Strip Center
  • Anchor Tenant Aamco Transmission Has Occupied the Center For Almost 20 Years
  • Multiple Below Market Short Term Leases Allow For Immediate Upside

Exclusively Listed By

Financing By

Shopping Strip

Red Road Plaza

Listing Price: $4,900,000

Cap Rate
5.16%
Gross SF
18,038
Rentable SF
18,038
Price/Gross SF
$271.65
Lot Size
0.92 acres
Year Built
1966

Investment Highlights

  • 100% Occupied Hialeah, FL (Miami) Retail Strip Center
  • Anchor Tenant Aamco Transmission Has Occupied the Center For Almost 20 Years
  • Multiple Below Market Short Term Leases Allow For Immediate Upside

Investment Overview

Marcus & Millichap is proud to exclusively market the Red Road Plaza, a 18,038 square foot neighborhood retail strip center located on the south west corner of busy W 29th street and Red Road (NW 57th Avenue) in the heart of Hialeah, one of Miami-Dade counties most dense and rapidly growing submarkets. The property has excellent visibility and frontage, and benefits from a daily traffic count of over 42,000 cars. Anchored by Aamco Transmissions, a tenant that has occupied the space for almost 20 years, the center is 100% occupied, with multiple short term below market rents. Red Road Plaza has eleven total tenants, with almost half of them having occupied the center for over 10 years. The property sits directly across from a Presidenté Supermarket anchored shopping center and is also surrounded by very dense residential. This portion of Hialeah, just minutes north of Busy Okeechobee Boulevard is incredibly dense, with over 207,000 people living within a three mile radius of the subject property. Hialeah continues to be one of the most densely populated municipalities in the entire state of Florida, with a growing amount of Cuban American and Latin American residents living in the immediate area. This population growth continues to drive the demand for retail and the increase in rental rates within the submarket. This is an incredible opportunity to own a larger neighborhood strip in one of the top municipalities in Miami Dade County. with upside through the ability to turn over short term leases immediately.

Exclusively Listed By

Financing By

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