3316-3338 NE 7th St
Homestead, FL 33033
Crystal Lake Shopping Center · Retail Property For Sale

Institutional Property Advisors is pleased to present the sale of Crystal Lake Shopping Center, an 85,873 SF, new construction retail plaza located just east of the Florida Turnpike on Campbell Drive in southern Miami-Dade County (Homestead, FL). The property is anchored by Presidente Supermarket, one of the region’s most successful grocery chains, and a corporate-guaranteed 24 Hour Fitness. Additional national tenants are Goodwill, Pizza Hut, Wells Fargo, and Cricket Wireless with local service tenants including a dry cleaner, barber shop, nail salon and Chinese restaurant. Crystal Lake Shopping Center offers very stable cash flow into the future, as 92% of the property has 13 years or more of primary lease term remaining. The property’s desirable location and newly-signed leases with maximum term remaining provide for various attractive financing options. Crystal Lake Shopping Center provides much needed retail shops for the area’s growing population and is located across the street from the Baptist Homestead Hospital. The property will also benefit from additional traffic generated by three outparcels which are not included in the offering, featuring a brand-new construction RaceTrac gas station, a recently constructed DQ Grill & Chill, and a third outparcel with plans to construct a three-tenant, 7,300 SF retail strip center. There are over 1,500 new homes and multifamily units either recently completed or under construction within a 1-mile radius of the subject property. The area’s projected population growth of 25% over the next five years will fuel the demand for necessity-based shopping needs for the community and should lead to continued low vacancy rates and future rental rate growth.