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.