I am stopping there for sure on my way back to Playa from Mahahual.
It is right across the 307 just a bit to the North, but I cannot remember if there is an overpass or not as the raised highway had me smiling and the Super Chedrauli sign had me almost driving off the road with excitement.
Walking up from PAV you would be able to find a bit of shade, but once you depart PAV and then try to cross and go under and cross some more of the 307 you may be a lot happier you took a taxi.....
then to find the correct street to get around and into the parking lot Chedrauli you would be hotter than heck. A cab would be easy and then you can walk around PAV later in the day for exercise while looking for Happy Hour.