Miami, FL – 06/27/2023 – Otto Travieso announced the sale and purchase of EDAL Plaza, a retail shopping center in Naranja/Homestead, FL along South Dixie Highway. The property consists of 3 buildings totaling approximately 22,800 SF and sits on 2.41 acres with ample parking. The property has about 19 tenants which include a barber, insurance, medical and restaurant to name a few. Rents are well below market and allow the buyer to add value. The Buyer will increase rents and utilize the property as a covered land play while design and planning are done for a future multifamily project. This South Dixie Highway/US-1 corridor is booming with multifamily developments. This property had a significant amount of demand with several offers within the first few weeks. The accepted contract closed at $4.5M. This property was marketed and sold from start to finish in less than 5 months. Otto Travieso of Real Capital Partners LLC represented both the Seller and Buyer as a transaction broker.

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