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12113 Sheridan St

Hollywood, FL 33026

$9,800,000

Storefront For Sale  •  35,129 Sq Ft

Property Details

  • Property Type Storefront
  • Total Building Size 35,129 Sq Ft
  • Lot Size 5.69 ac
  • Year Built 1988
  • Cap Rate 6.96 %
  • Tenancy Multiple
  • Zoning B-2
24 Transit Score
58 Walk Score

Description

Lee & Associates, as exclusive advisor, is pleased to present for sale the Shoppes of Cooper City, ("the Property"), a nearly 5 acre site, 35,129 - rentable square foot, 3 building property consisting of in-line retail. 

This 21 unit plaza is offered for sale at $9,800,000 and is currently 89% occupied
Shoppes of Cooper City is currently 89 percent occupied by 19 tenants and has 2 vacant spaces. Tenants within the center operate under triple-net leases with an average rental rate of $22.24 per square foot. 

The retail bays within the center range from 820 square feet to 3,864 square feet. The three largest tenants are New Castle Realty, Dunkin
Donuts and Northwestern Management, which occupy 3,864 square feet, 2,250 square feet, and 2,180 square feet, respectively.


National retailers in surrounding area include Wells Fargo, Starbucks, CVS, LA Fitness, and Dollar Tree among others. Additionally, an investor can significantly raise the Property's current NOI by leasing the vacant space and raising the current tenant's rent to market upon lease expiration.

The Property's premier location offers an investor a rare opportunity in a rapidly growing market with excellent demographics, strong local and regional fundamentals, and a steady increase in jobs and development that will continue to enhance and maintain the stabilization of the property.

Highlights

Value Add Opportunity - Below Market Rents
Newly renovated retail center
National Retailers in surrounding area include Wells Fargo, Starbucks, CVS, LA FItness and Dollar Tree among others

Financial Summary

Cap Rate: 6.96 %

Major Tenants

Tenant SF Occupied Lease End Date
Dunkin Donuts

Amenities

  • Drive Thru

Public Transportation

Commuter RailDriveWalkDistance
Sheridan Street Commuter Rail (Tri-County Commuter) 19 min - 9.4 mi
AirportDriveWalkDistance
Fort Lauderdale–Hollywood International Airport 24 min - 12.0 mi
Miami International Airport 36 min - 22.9 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 219
Type: Surface
Included in Rent: Yes
Victor Pastor 305-235-1500 Lee & Associates
Victor Pastor 305-235-1500 Lee & Associates