27525 S. DIXIE HWY.

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Sale Overview

Quick Summary

Address	27525 S Dixie Hwy, Homestead, FL
Price	$4,500,000
Year Built	1988
Zoning	MC - Mixed Use Corridor
Land Area	104,993 SF

Property Description

Otto Travieso with Real Capital Partners is pleased to announce the exclusive listing of Edal Plaza in Homestead, Florida. The property is located in the Naranja submarket along US-1/South Dixie Highway at 27525 S. Dixie Highway. The property is a retail center consisting of 3 buildings with a total of approximately 22,839 sf and sits on 2.41 acres. Rents are below market with long term tenants in place. Most tenants are month to month with just a few under lease through 2023-2024. Tenants include Keg South restaurant, medical uses, barbershop, insurance company and other service-oriented tenants. Center was recently cleaned up and painted.

This property presents an opportunity for a covered land play and redevelopment. The US-1/S. Dixie corridor has seen extensive multifamily development with no slowdown in sight. The parcel is located in the Core Sub-District of the Leisure City Community Urban Center and is designated as “MC-Mixed Use Corridor.” Under the MC designation, the property may be developed with up to ninety (90) units per acre. Height would be limited to a minimum of 2 stories and a maximum of 6 stories by right. Enclosed the massing study prepared calls for 6 floors with 2 decks of parking. This design allows for 186 units with a very efficient and cost-effective layout.