Overview

Description

SVN Commercial Partners is pleased to present for sale Powerline Shopping Center, a multi-tenant retail plaza located at 4010-4054 NW 9th Avenue in Oakland Park, Florida (Fort Lauderdale MSA). This strategically positioned plaza offers an exceptional investment opportunity in the heart of Broward County.

Powerline Shopping Center is 48% occupied. The vacancy consists of two small 800 square-foot vacancies and a stand-alone 6,000 square-foot vacant building that includes a monument/billboard with frontage along Interstate-95 providing further potential income for the Property. All tenants are on NNN leases, shouldering their fair share of expenses. Currently, the average rent stands at $14.36 per square foot, whereas comparable plazas in the vicinity command $20 per square foot. This presents a substantial 30% upside in rental income. Notably, the current landlord is not charging tenants for signage along the prominent high-rising portion of the building, offering significant leasing potential for advertising due to its exceptional visibility along Interstate-95.

Spanning an expansive 14,600 rentable square feet, Powerline Shopping Center comprises nine units spread across three buildings, all situated on a sprawling 1.5-acre lot. Powerline Shopping Center enjoys an unbeatable location at the NE corner of NW 40th St and Powerline Rd. Its strategic placement situates it midway between Commercial Blvd and Oakland Park Blvd.

Access to Powerline Shopping Center is incredibly convenient, featuring three points of ingress and egress. This configuration ensures easy entry from all directions. The Property capitalizes on its 615 feet of frontage along Powerline Rd and Interstate I-95, commanding a combined daily traffic count of 277,000 vehicles, uniquely positioning it as an ideal location for businesses seeking premier visibility.

Within a 3-mile radius, approximately 135,000 individuals reside in this vibrant community. The property offers an impressive parking ratio of 5.20 spaces per 1,000 rentable square feet, accommodating a wide spectrum of tenant needs.

4010 NW 9th Ave is strategically situated in Oakland Park, Florida, a dynamic and thriving community known for its diverse economic landscape. The property's excellent visibility from and accessibility, and is centered between Oakland Park Blvd and Commercial Blvd, make it a convenient destination for businesses, customers, and employees.

It benefits from the proximity to shopping centers, restaurants, residential neighborhoods, and robust public transportation options. Oakland Park's ongoing development and economic growth further enhance the property's appeal, positioning it as an ideal location for investment or business establishment.

Highlights

• Prime Location: Strategically situated at the NE corner of NW 40th St and Powerline Rd in Oakland Park, FL, offering exceptional visibility and exposure to over 277,000 daily vehicle traffic along Interstate I-95.
• Ample Frontage: Boasting an impressive 615 feet of frontage along Powerline Rd (NW 9th Ave), a major north-south thoroughfare in Broward County, enhancing accessibility and attracting potential customers.
• Owner-User Opportunity: The Property is currently 48% occupied, Providing an Opportunity for an Owner-User to Occupy More than Half of the Building, Making it Eligible for 90% LTV SBA Financing
• Upside Potential: Current rental rates average $14.36 per square foot, providing a significant 30% upside potential in rental income by adjusting rents to market rates. Additionally, potential income from high-visibility signage along I-95.
• Strong Demographics: Approximately 135,000 residents live within a 3-mile radius, ensuring a steady flow of potential clientele and a thriving consumer base for businesses in the plaza.
• Competitive Market: Market comparisons demonstrate the property's potential for competitive leasing rates and strong returns on investment in the flourishing retail sector.

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