SOLDRetail
Publix Acquires Homestead Plaza Shopping Center In Lehigh Acres For $22 Million
1324 Homestead Road North
$22,000,000
Building Size
—
Asset Type
Retail
Closing
Jul 14, 2026
AI
The property involved in the transaction is a retail asset located at 1324 Homestead Road North, Lehigh Acres, FL. It was sold for a transaction amount of $22,000,000 and features a sub-6% capitalization rate. The shopping center is anchored by Publix and known as Homestead Plaza.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $22,000,000
- Address: 1324 Homestead Road North
- Market: Lehigh Acres, FL
- Asset Type: Retail
- Broker Representatives: Evan Whelan & Josh Symonette - NX3 Commercial Group
This off-market deal involved a significant Right of First Refusal triggered by Publix, enabling the grocer to acquire the property and expand its portfolio in Florida. The transaction was managed by NX3 Commercial Group, with Evan Whelan and Josh Symonette representing the interests in the deal.
Players
Lehigh Acres Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93