I think so, I asked a few cab drivers and despite the language barrier they seemed to have at least an idea where it is. Its on Boulevard Kukulkan, and its a couple blocks south of La Isla shopping plaza. Look for a large dark brown sign that says CIGARS, next to La Distileria.
Just to give you an idea on price range, that Cohiba Rubusto in my pic was $30, the PSD Rubusto was $19, and the MC's were $22 apiece.