Naranja Lakes
A 90,445 SF Neighborhood Grocery Anchored Center Located in Homestead, FL
Marketing description
CBRE National Retail Partners is pleased to offer for sale Naranja Lakes Shopping Center (the “Property”), a 90,445 SF neighborhood grocery anchored center located in Homestead, FL (South Florida MSA), a densely populated, high growth, moderate income suburban community in southern Miami-Dade County.
The property is 100% leased and anchored by a high-volume Fresco y Más store - a Hispanic oriented grocery chain recently spun out of Southeastern Grocers. Winn-Dixie operated at the property since 1986 and was converted to Fresco y Más in 2017. Additional national and regional tenants include Family Dollar, T Mobile, and La Colonia Medical Center (recently exercised option).
The property is located along high-traffic US-1, 1.5 miles west of the Florida Turnpike/Moody Drive interchange. Naranja Lakes Shopping Center serves a dense, Hispanic, in-fill, trade area with a 3-mile population of 107,364 and projected growth of 14.6% through 2030. The 3-mile average household income is growing rapidly and reached $95,281 in 2025. Naranja Lakes Shopping Center is being offered free and clear of existing debt.
Investment highlights
- Stabilized high volume grocery anchored shopping center in Miami Dade County with 2.91% 11-year NOI CAGR.
- Recently exercised anchor tenant renewals and options | Fresco y Más (5-Year option), La Colonia (10-Year option).
- 89% of GLA has operated at the Property for 8+ years.
- #8 of 22 shopping centers within a 5-mile radius (Placer.Ai).
- Booming area growth with an 870% increase in multi-family inventory since 2023 in 3 miles and 1,646 more units now under construction.
- The 3-Mile trade area is 72% Hispanic and has average household size of 3.18, 26% higher than the national average and $95,281 average household income projected to increase 15% by 2030.
- The Homestead retail submarket has experienced 18% NNN market rent growth and average occupancy of 98% over the last 3 years.
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