Fort Lauderdale Strip Center
Building For Sale in Fort Lauderdale (ref ID: victory2)
| Ref ID |
Bedrooms |
Bathrooms |
Size |
Price |
| victory2 |
Studio |
|
12700 Sq. Foot |
$1,550,000 |
3901 SW 16th St
Fort Lauderdale, FL
County: Broward
Property Type: Shopping Center
Strip Center
GLA: 12,700 SF
Occupancy: 95%
Price: $1,550,000
Price/SF $122.05
Cap Rate: 8.42%
Priced to sell @ below replacement cost
Possible additonal income from billboard signs
Across from MacDonalds & Gunther VW
Possible redevelopement site
Always rented
Delivered free and clear of debt
Property Description
100% Leased! Great opportunity to own in one of Broward's best locations.Located off 441 in a prime section of Broward's future
development area. 11,940 Sq ft Rentable Square Feet- with over 1/2 acre (26,136 sq ft) of retail land! All new leases are @ $15/p/s/f
NNN- The center currently is 100% leased will a long history of full occupancy.Current rents in the center are between $11-17 NNN in a
market commanding $18-20NNN. All leases have annual increases of CPI with a floor of 3% and a ceiling of 5%. Currently two leases
have a few months till expiration, thereby allowing an immediate increase in the net operating income once renewed. In addition, all
expenses are pass-through to the tenants.Projected Income @ $15p/s/f: $ 175,500 Cap Rate: 8.42% ROI 11.76%-Shoppes are located
in the dynamic and highly sought after retail market of Davie, arguably one of the best location in Broward County if not the Tri-County
area. Neighborhood surrounding Victory Shoppes is dominated by single family homes, other retail plazas, and commercial properties
on 441. The property has excellent frontage on 16 street and the 441 corner, next to MacDonalds & Gunther VW.
Location Description
Two other shopping centers available, see agent . Take 595 West to 441 head North on 441 past the Macdonalds on the right turn
on 16th Street.property is in the within one of the target areas for community redevelopment and revitalization in the Town of Davie, a
diverse community that retains its hometown feeling, offers customer friendly services to its residents and is a unique jewel in central
Broward County, that treasures its environment, rural and equestrian lifestyle, while attracting, encouraging and retaining viable
economic and educational opportunities. The Town of Davie is also the nexus of higher education in South Florida where several
nationally known colleges, technical institutes, and universities make up the South Florida Educational Center. Also, Davie's business
climate includes the headquarters some Fortune 500 firms. Davie is ideally located among major thoroughfares such as the Turnpike,
I-595, I-75, and is within a few minutes travel to the Ft. Lauderdale/Hollywood International Airport and Florida's deepest port, Port
Everglades. |
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| Sale Costs |
| Price: |
$1,550,000 |
| Down: |
0 |
| Maint: |
0 |
| Taxes: |
0 |
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