Office

12350 NW 39th Street

12350 NW 39th St, Coral Springs, FL 33065

Listing Price: $4,500,000

Cap Rate
7.66%
Gross SF
30,134
Rentable SF
30,134
Price/Gross SF
$149.33
Lot Size
1.91 acres
Year Built
1987

Investment Overview

Marcus & Millichap is proud to present 12350 NW 39th Street, a two-story freestanding office building located within the Corporate Park of Coral Springs, Florida. 12350 NW 39th Street was built in 1987, and completely renovated in 2015 under current ownership. This office building is situated on a 1.9-acre parcel (or 83,113 square feet), offering approximately 30,134 square feet of rentable space.

The Subject property is currently 94 percent occupied with a variety of professional tenants including Wholesale Carrier Services, Inc, Activa Home Health, and Therapia Staffing.

12350 NW 39th Street has been exceptionally maintained and provides professional curb appeal, high signage opportunities, and ample parking. The subject property has approximately 97 surface parking spaces with four ADA compliant spaces, equating to a healthy parking ratio of 3.22 per 1000 square feet of rentable space. During the seven-year holding period current ownership spent in excess of $1,000,000 in capital improvements providing little-to-no deferred maintenance.

The stable tenant mix provides a healthy year one Cash on Cash return in excess of 11 percent providing an outstanding investment opportunity for an investor or end user.

The property is located just off the Sawgrass Expressway (SR 869), which has high traffic counts of over 71,800 vehicles per day. The Subject property is also just 0.5 miles from Coral Ridge Drive which has traffic counts of over 31,000 vehicles per day and is 0.5 miles from West Sample Road (SR 834) which has traffic counts of over 23,500 vehicles per day. Corporate Park of Coral Springs is home to more than 350 businesses occupying more than 4.1 million square feet of building space. The nearly one-square-mile business park fronts the Sawgrass Expressway (SR 869) and includes commercial, office, warehouse, and manufacturing space. Businesses include companies such as Lupin, a publicly traded pharmaceutical company and First Data (NYSE: FDC), a financial services company that provides debit acceptance for nearly a third of all U.S. debit cards.

Investment Highlights

  • Exceptionally Maintained Building with Quality Tenants
  • Located within the Corporate Park of Coral Springs
  • Ample Parking
  • Located Just Off the Sawgrass Expressway

Exclusively Listed By

Listing Price: $4,500,000

Cap Rate
7.66%
Gross SF
30,134
Rentable SF
30,134
Price/Gross SF
$149.33
Lot Size
1.91 acres
Year Built
1987

Investment Highlights

  • Exceptionally Maintained Building with Quality Tenants
  • Located within the Corporate Park of Coral Springs
  • Ample Parking
  • Located Just Off the Sawgrass Expressway

Investment Overview

Marcus & Millichap is proud to present 12350 NW 39th Street, a two-story freestanding office building located within the Corporate Park of Coral Springs, Florida. 12350 NW 39th Street was built in 1987, and completely renovated in 2015 under current ownership. This office building is situated on a 1.9-acre parcel (or 83,113 square feet), offering approximately 30,134 square feet of rentable space.

The Subject property is currently 94 percent occupied with a variety of professional tenants including Wholesale Carrier Services, Inc, Activa Home Health, and Therapia Staffing.

12350 NW 39th Street has been exceptionally maintained and provides professional curb appeal, high signage opportunities, and ample parking. The subject property has approximately 97 surface parking spaces with four ADA compliant spaces, equating to a healthy parking ratio of 3.22 per 1000 square feet of rentable space. During the seven-year holding period current ownership spent in excess of $1,000,000 in capital improvements providing little-to-no deferred maintenance.

The stable tenant mix provides a healthy year one Cash on Cash return in excess of 11 percent providing an outstanding investment opportunity for an investor or end user.

The property is located just off the Sawgrass Expressway (SR 869), which has high traffic counts of over 71,800 vehicles per day. The Subject property is also just 0.5 miles from Coral Ridge Drive which has traffic counts of over 31,000 vehicles per day and is 0.5 miles from West Sample Road (SR 834) which has traffic counts of over 23,500 vehicles per day. Corporate Park of Coral Springs is home to more than 350 businesses occupying more than 4.1 million square feet of building space. The nearly one-square-mile business park fronts the Sawgrass Expressway (SR 869) and includes commercial, office, warehouse, and manufacturing space. Businesses include companies such as Lupin, a publicly traded pharmaceutical company and First Data (NYSE: FDC), a financial services company that provides debit acceptance for nearly a third of all U.S. debit cards.

Exclusively Listed By

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