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Shopping Strip

Fort Lauderdale Shoppes

1026-1030 NW 9th Ave, Fort Lauderdale, FL 33311

Listing Price: $880,000

Cap Rate
6.17%
Gross SF
2,700
Rentable SF
2,700
Price/Gross SF
$325.93
Lot Size
0.15 acres
Year Built
1962

Investment Overview

Fort Lauderdale Shoppes is a 2,700 square foot, three tenant retail strip center located in the heart of Fort Lauderdale just north of Sunrise Boulevard on heavily travelled NW 9th Avenue (Powerline Road). The one-story retail property sits on 6,571 square feet of land and includes 11 parking spaces in front of the property.

This owner has recently re-tenanted and renovated two of the bays with newly signed leases. The first new lease is a Caribbean restaurant, and the second lease is with a real estate office. Both leases are at market rate with a NNN leased structure where the tenants are reimbursing their pro-rata share of all expenses. The owner has also renovated both bathrooms in those units and installed new HVAC units as well for those spaces. The third tenant, Beauty Supply, has been in the center for 15 years and is a month-to-month tenant paying a below market rent with a gross lease structure. An investor has the opportunity to replace or renegotiate the lease to increase the income significantly.

The owner has made several renovations to the property recently, including a new roof with a 10 year warranty, new exterior lighting and replaced electrical breakers in the rear along with re-asphalting and striping the parking lot. Additionally the property features impact storefronts. The property is an ideal below one-million dollar investment for a Buyer looking for a small easy to manage property in Broward County. NW 9th Avenue has a strong traffic count of over 31,000 vehicles per day, while just to the South, Sunrise Boulevard boasts an additional 31,500 vehicles per day. This section of Fort Lauderdale, just a minute east of I-95, is an incredibly dense commercial and residential area.

Investment Highlights

  • Rare Retail Investment Below $1,000,000 in Price in Southeast Florida
  • Three Tenant Small Bay Property is Easy to Self-Manage
  • Month to Month Lease Allows for Upside in Re-Leasing or Converting to NNN Lease Structure
  • Located Directly Across Street From Presidente Anchored Shopping Center
  • Located in Dense Fort Lauderdale Submarket with Over 175,000 People Living Within 3 Miles of Subject Property
  • Property is Located on NW 9th Avenue (Powerline Road) Just North of Busy Sunrise Boulevard with Daily Traffic Count of Over 31,500
  • Landlord Recently Replaced Roof (10 Year Warranty Included), New A/C Units and New Bathrooms for Two of Three Spaces, and New Asphalt/Striping in Parking Areas

Exclusively Listed By

Financing By

Shopping Strip

Fort Lauderdale Shoppes

Listing Price: $880,000

Cap Rate
6.17%
Gross SF
2,700
Rentable SF
2,700
Price/Gross SF
$325.93
Lot Size
0.15 acres
Year Built
1962

Investment Highlights

  • Rare Retail Investment Below $1,000,000 in Price in Southeast Florida
  • Three Tenant Small Bay Property is Easy to Self-Manage
  • Month to Month Lease Allows for Upside in Re-Leasing or Converting to NNN Lease Structure
  • Located Directly Across Street From Presidente Anchored Shopping Center
  • Located in Dense Fort Lauderdale Submarket with Over 175,000 People Living Within 3 Miles of Subject Property
  • Property is Located on NW 9th Avenue (Powerline Road) Just North of Busy Sunrise Boulevard with Daily Traffic Count of Over 31,500
  • Landlord Recently Replaced Roof (10 Year Warranty Included), New A/C Units and New Bathrooms for Two of Three Spaces, and New Asphalt/Striping in Parking Areas

Investment Overview

Fort Lauderdale Shoppes is a 2,700 square foot, three tenant retail strip center located in the heart of Fort Lauderdale just north of Sunrise Boulevard on heavily travelled NW 9th Avenue (Powerline Road). The one-story retail property sits on 6,571 square feet of land and includes 11 parking spaces in front of the property. This owner has recently re-tenanted and renovated two of the bays with newly signed leases. The first new lease is a Caribbean restaurant, and the second lease is with a real estate office. Both leases are at market rate with a NNN leased structure where the tenants are reimbursing their pro-rata share of all expenses. The owner has also renovated both bathrooms in those units and installed new HVAC units as well for those spaces. The third tenant, Beauty Supply, has been in the center for 15 years and is a month-to-month tenant paying a below market rent with a gross lease structure. An investor has the opportunity to replace or renegotiate the lease to increase the income significantly. The owner has made several renovations to the property recently, including a new roof with a 10 year warranty, new exterior lighting and replaced electrical breakers in the rear along with re-asphalting and striping the parking lot. Additionally the property features impact storefronts. The property is an ideal below one-million dollar investment for a Buyer looking for a small easy to manage property in Broward County. NW 9th Avenue has a strong traffic count of over 31,000 vehicles per day, while just to the South, Sunrise Boulevard boasts an additional 31,500 vehicles per day. This section of Fort Lauderdale, just a minute east of I-95, is an incredibly dense commercial and residential area.

Exclusively Listed By

Financing By

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