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Plaza Zaragoza is a modest neighborhood retail center in Santo Domingo, Dominican Republic, situated in a densely populated urban district.
Spanning about 15,000 square meters of gross leasable area, it primarily serves local shoppers with everyday needs. Established in the early 2000s, the property hosts around 40 tenants, including a mid-sized supermarket as anchor, pharmacies, apparel outlets, and quick-service eateries.
Tenant mix emphasizes essentials (50%), fashion and accessories (25%), food and beverage (15%), and services (10%). As a community-oriented venue, it holds a stable market position amid Santo Domingos competitive retail landscape, where larger destination malls like Agora and BlueMall dominate premium segments. Occupancy hovers at 80-85% based on 2024 commercial real estate reports, reflecting resilience post-pandemic but challenged by e-commerce growth.
Leasing advantages include affordable base rents of $12-20 per square meter monthly, short-term flexible leases (2-5 years), and incentives like rent abatements for new tenants. The surrounding area features high residential density with over 40,000 residents in a 2 km radius, predominantly middle-lower income households averaging $800-1,200 monthly.
Accessibility is via Av. 27 de Febrero and local buses, though traffic congestion poses issues. Footfall estimates at 4,000-6,000 daily visitors, driven by proximity to homes rather than tourism. Operational aspects include standard maintenance, but aging HVAC systems may require future capital investment. Potential drawbacks encompass limited parking (150 spots), vulnerability to economic downturns in the DRs tourism-reliant economy, and saturation in basic retail categories from street vendors and informal markets.
Overall, it suits value-oriented retailers targeting local demographics, with sales per square meter around $300-400 annually per industry benchmarks.
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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 Footfall
The catchment area demographics include a population of approximately 45,000 within 3 km, with 60% aged 18-45, families comprising 70% of households, and average income levels of $900 per month, per local census data. Footfall averages 5,000 visitors per day, with peaks of 8,000 on weekends, supported by residential proximity but constrained by absence of entertainment anchors like cinemas or events spaces, leading to shorter dwell times of 30-45 minutes.
Competition and Tenant Mix
Intense local competition from nearby informal markets and larger malls such as Sambil (5 km away) pressures non-essential categories, resulting in 20% vacancy in fashion tenants. The mix favors durable goods and groceries, where sales outperform by 15% over city averages, but weak performance in electronics due to online alternatives and market saturation, as noted in 2025 JLL retail reports for the Caribbean region.
Lease Terms and Operational Risks
Leasing rates start at $15 per sq m base, plus 6-10% of gross sales over a breakpoint, with terms typically 3 years and options to renew. Advantages include low upfront costs and co-tenancy clauses. Risks involve operational challenges like intermittent power outages common in DR urban areas, aging infrastructure (built 2002) needing $500k upgrades, and sensitivity to inflation, which rose 4.5% in 2024, potentially eroding margins for small retailers.
Building Details
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City Snapshot
Santo Domingo
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City Snapshot
Santo Domingo
Comprehensive market intelligence for retail expansion in this city
