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Shopping Strip

Miami Gardens Shopping Plaza

4500 NW 183rd St, Miami Gardens, FL 33055

Listing Price: Request For Offer

Gross SF
114,342
Rentable SF
114,342
Lot Size
11.36 acres
Year Built
1960

Investment Overview

Marcus & Millichap is proud to exclusively market the Miami Gardens Shopping Plaza, a 114,342 square foot grocery anchored neighborhood retail/ service center at the heart of densely populated and booming Miami Gardens, Florida. The center sits on over 11 acres of land, north of Hialeah and Miami Lakes, and south of Miramar. The anchor tenant, Price Choice Supermarket, is a regional favorite which has occupied the center since 1997 and recently extended their lease for an additional 10-year base term. Price Choice has outstanding sales and commands a loyal and diverse clientele and is the only grocer for nearly two miles in any direction. The center has multiple outparcels including a brand new Pollo Campero ground leased restaurant property on the northwest corner and a fully remodeled and improved McDonalds (not a part). The center is 92 percent occupied with multiple below market short term leases allowing an investor the potential for significant upside. The center is now completing a major remodeling project involving a complete parking lot renovation – curbing, restriping, sealcoat resurfacing-ADA revisions, new exterior LED lighting and landscaping improvements, removal of building sections allowing additional parking and other elements improving visibility and traffic flow. Additionally, The F.D.O.T. is simultaneously completing a major multi-year road widening project of both busy NW 183rd Street and NW 47th Avenue. and projecting a dramatic increase in traffic flow going forward. Despite the challenges of Covid and more impressively through years of road closings, driveway blockages, and construction disturbances endured during the F.D.O.T. road widening project, the center has maintained high occupancy and thrived. This fine neighborhood retail/service center, anchored by Price Choice Supermarket, Family Dollar and other notable credit and regional tenants including Octa Pharma, RAC Rent-A-Center, Chen Medical, Accelerated Learning Solutions, Pro Dental Services and numerous neighborhood centered health, beauty, learning, service-oriented tenants makes Miami Gardens Shopping Plaza an internet safe and indispensable hub of this densely populated, diverse and growing area (60 percent Hispanic/170,000 population within 3 miles).

Investment Highlights

  • Anchor tenant Price Choice has strong reported sales and limited competition
  • Price Choice has occupied center since 1997 and recently extended lease for an additional 10 years
  • Two additional outparcels included - Pollo Campero Ground Lease (to be completed in 2022) & existing drive-thru convenience store
  • Vast majority of center is occupied by Internet-proof, service-oriented tenants or in-person businesses
  • Seller soon to complete several upgrades to the property, including curb work, paving and restriping of the parking lot, new landscaping and new LED lighting
  • FDOT soon to complete major road expansion, including additional "left-turn" access point off of NW 47th Avenue
  • Price Choice is only grocer within a 2-mile radius in every direction
  • Signalized corner location with multiple ingress and egress points

Exclusively Listed By

Financing By

Shopping Strip

Miami Gardens Shopping Plaza

Listing Price: Request For Offer

Gross SF
114,342
Rentable SF
114,342
Lot Size
11.36 acres
Year Built
1960

Investment Highlights

  • Anchor tenant Price Choice has strong reported sales and limited competition
  • Price Choice has occupied center since 1997 and recently extended lease for an additional 10 years
  • Two additional outparcels included - Pollo Campero Ground Lease (to be completed in 2022) & existing drive-thru convenience store
  • Vast majority of center is occupied by Internet-proof, service-oriented tenants or in-person businesses
  • Seller soon to complete several upgrades to the property, including curb work, paving and restriping of the parking lot, new landscaping and new LED lighting
  • FDOT soon to complete major road expansion, including additional "left-turn" access point off of NW 47th Avenue
  • Price Choice is only grocer within a 2-mile radius in every direction
  • Signalized corner location with multiple ingress and egress points

Investment Overview

Marcus & Millichap is proud to exclusively market the Miami Gardens Shopping Plaza, a 114,342 square foot grocery anchored neighborhood retail/ service center at the heart of densely populated and booming Miami Gardens, Florida. The center sits on over 11 acres of land, north of Hialeah and Miami Lakes, and south of Miramar. The anchor tenant, Price Choice Supermarket, is a regional favorite which has occupied the center since 1997 and recently extended their lease for an additional 10-year base term. Price Choice has outstanding sales and commands a loyal and diverse clientele and is the only grocer for nearly two miles in any direction. The center has multiple outparcels including a brand new Pollo Campero ground leased restaurant property on the northwest corner and a fully remodeled and improved McDonalds (not a part). The center is 92 percent occupied with multiple below market short term leases allowing an investor the potential for significant upside. The center is now completing a major remodeling project involving a complete parking lot renovation – curbing, restriping, sealcoat resurfacing-ADA revisions, new exterior LED lighting and landscaping improvements, removal of building sections allowing additional parking and other elements improving visibility and traffic flow. Additionally, The F.D.O.T. is simultaneously completing a major multi-year road widening project of both busy NW 183rd Street and NW 47th Avenue. and projecting a dramatic increase in traffic flow going forward. Despite the challenges of Covid and more impressively through years of road closings, driveway blockages, and construction disturbances endured during the F.D.O.T. road widening project, the center has maintained high occupancy and thrived. This fine neighborhood retail/service center, anchored by Price Choice Supermarket, Family Dollar and other notable credit and regional tenants including Octa Pharma, RAC Rent-A-Center, Chen Medical, Accelerated Learning Solutions, Pro Dental Services and numerous neighborhood centered health, beauty, learning, service-oriented tenants makes Miami Gardens Shopping Plaza an internet safe and indispensable hub of this densely populated, diverse and growing area (60 percent Hispanic/170,000 population within 3 miles).

Exclusively Listed By

Financing By

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