Sunrise Plaza | Strip Mall | 7 Cap

$1,600,000

4620 Northwest 9th Court, Plantation, FL 33317

For Sale

Retail Strip Center

Active

Last Updated: 10/08/2021

Details:

Cap Rate: 7%

NOI: $112,102

Building Size: 10,130 sqft

Lot Area: 0.76 acres

Year Built: 1968

Offered by Broker

Jorge Llorens

Broker-associate

Coldwell Banker Commercial

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Highlights:

Strip Mall Shopping Center located in Plantation, Florida with 6 tenants.
The CAP rate is 7.0% at the asking price of $1,600,000 even while assuming a 5% vacancy.
Four of the 6 tenants pay CAM fees or some additional fee in addition to their base rent (see rent roll).
Most of the tenants are long term with long histories at the property.
All tenants have renewed their leases recently.
Expenses are below average according to the landlord.
Excellent tenant mix servicing a vibrant residential area within walking distance of the center.

Description:

Strip Center (shopping plaza) with 6 retail bays located on a +/-32,984 SF lot. Building size is +/-10,130 SF. Income producing property which is 100% occupied. Large parking lot. Surrounded by residential areas within walking distance of the center.

LOCATION OVERVIEW
Located just off Sunrise Blvd less than one-half mile east of the Florida Turnpike and one-half mile west of State Rd 7 (US 441). Only 2.5 miles from I-95.