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Pinar Del Río Retail is a state-owned shopping centre located in Pinar del Río, Cuba, with a gross leasable area of 10,000 square meters across two levels, constructed in 2000. It serves as a local retail hub in a region known for tobacco production and tourism related to natural landscapes like Viñales Valley. The tenant mix includes anchor tenants such as local supermarkets and state stores, alongside medium diversity in categories like tobacco shops, with approximately 20 stores in the competitive area contributing to low density.
Market position is modest, catering primarily to the local population of 150,000 within a 5 km radius, characterized by an average age of 42 years, household size of 3.2 persons, and annual income of 3,600 USD, amid negative population growth of -0.19% annually. Annual footfall stands at 500,000 visitors, with an average dwell time of 30 minutes and a 20% capture rate, generating about 1,000 USD in sales per visitor yearly.
Accessibility is supported by public transport and medium traffic conditions, with 200 parking spaces available. Leasing opportunities include 1,000 sqm of available space at 5 USD per square meter per month, with a 10% vacancy rate indicating moderate demand. Advantages encompass stable state ownership ensuring consistent operations and proximity to residential areas for reliable local traffic, potentially benefiting essential goods retailers.
Drawbacks involve limited flexibility in lease terms, low adoption of digital trends, and competition from 20 nearby stores, alongside economic challenges like low consumer spending of 500 USD per capita annually and inflation at 2%.
Operational quality is basic, with low security measures and few events, which may hinder broader appeal. In the Cuban retail context, where state control dominates, this property offers practical entry for tenants targeting everyday needs but requires caution regarding market saturation in weak categories and aging infrastructure.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Population Trends
The primary catchment area within 5 km encompasses 150,000 residents with an average age of 42 years and household size of 3.2 persons, reflecting an aging population with negative growth of -0.19% annually. Average annual income is 3,600 USD, supporting consumer spending of 500 USD per capita, focused on essentials amid a cost of living index of 120 relative to the US at 100. This demographic profile suits retailers in groceries and tobacco products but poses risks for luxury or high-end fashion due to limited disposable income and economic constraints in Cuba's state-controlled market.
Accessibility and Footfall Metrics
The property benefits from high proximity to residential zones and public access via local transport, though medium traffic conditions and 200 parking spaces may constrain peak-hour influx. Annual footfall of 500,000 equates to about 8,333 monthly visitors with a 30-minute average dwell time and 20% capture rate, indicating steady but not exceptional traffic driven by local shopping needs. Operational challenges include basic infrastructure from 2000 construction, potentially leading to access issues during high tourism seasons near Viñales, and competition from 20 nearby stores diluting footfall concentration.
Leasing Terms and Market Risks
Available leasing space totals 1,000 sqm at 5 USD per square meter monthly, with a 10% vacancy rate suggesting balanced occupancy under state ownership. Low flexibility in terms and few tenants highlight risks of prolonged negotiations in Cuba's regulated environment. Additional challenges encompass low marketing penetration, minimal events, and high competition in digital channels despite low e-commerce adoption, compounded by market saturation in tobacco and basic retail categories. Potential drawbacks include aging facilities requiring maintenance and weak performance in non-essential sectors due to economic factors like 2% inflation and subdued growth potential of 1% annually.
Building Details
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City Snapshot
Pinar Del Río
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Popular in Cuba
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Interested in this property?
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City Snapshot
Pinar Del Río
Comprehensive market intelligence for retail expansion in this city