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Property Overview
Price/Rent PSF $ 10,300,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 35,129
Date Available 10/16/2018
Additional URL Link
Parking 219
Floors 1
Additional parameters Show
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Description

Location
The Shoppes of Cooper City is a newly renovated center located in Cooper City, one of Broward's fastest growing communities. Cooper City boasts strong demographics with a high density of family households and a population in excess of 293,000 within a five mile radius, and an average household income exceeding $94,000 within a one-mile radius. National retailers in surrounding area include Wells Fargo, Starbucks, CVS, LA Fitness, and Dollar Tree among others.

The center has excellent visibility from Flamingo Road and Sheridan Street located on the northeast corner of Flamingo Road and Sheridan Street and is within minutes of I-595 and the Florida Turnpike.

Sale
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 24 unit plaza is offered for sale at $10,300,000 and is currently 84% occupied. The center is located directly along Sheridan Street, which experiences traffic counts in excess of 31,930 cars per day.

Shoppes of Cooper City is currently 84 percent occupied by 18 tenants and has 3 vacant spaces. Tenants within the center operate under triple-net leases with an average rental rate of $23.36 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.

Shoppes of Cooper City is located in a densely populated area in Broward County with a population in excess of 293,000 within a five mile radius, and an average household income exceeding $94,000 within a one-mile radius. 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 expirations.

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.

Location

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