Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale Lakes Medical Center (the “Property”), a 52,136-square-foot, neighborhood retail center spanning over nearly five acres along State Road 7 (US-441) in Lauderdale Lakes, Florida. The Property is currently 94-percent occupied with a diverse mix of local and national businesses from a variety of industries. The Lakes Medical Center is situated in the Commercial Boulevard submarket, one of the most densely populated markets in all of South Florida. The Property, located in the heart of Broward County, is conveniently located on the west side of State Road 7, about a half-mile south of Commercial Boulevard, with robust frontage and visibility at the center of the many residential neighborhoods that surround it. Approximately 200,000 residents live within a 3-mile radius, and 530,000 residents are within a 15-minute drive, making this strategic location one of the primary retail centers in Lauderdale Lakes. The Property offers multiple ingress/ egress points, an expansive parking field with approximately 215 surface spaces (4.12/1,000 SF), and ease of access for commuters, being only a mile away from the Florida Turnpike and about four miles from Interstate 95. The Property sits within an Opportunity Zone, supplying tax incentives and deferrals, and is also eligible for the Lauderdale Lakes Community Redevelopment Agency (CRA) Commercial Façade Improvement Program, which provides up to 100-percent compensation for facade renovations. Lakes Medical Center attracts a substantial volume of customers through its diverse tenancy, and both local and national businesses have had great success at this location over the years. The Property affords tremendous upside potential for investors to acquire a value-add retail center within a high-barrier-to-entry South Florida market.