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Office

Coconut Creek Professional Plaza

5060 Coconut Creek Pkwy, Margate, FL 33063

Listing Price: $5,160,000

Cap Rate
7.00%
Gross SF
37,010
Rentable SF
37,010
Price/Gross SF
$139.42
Lot Size
4.20 acres
Year Built
1987

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale Coconut Creek Professional Plaza (the “Property”), a +/-37,000-rentable-square-foot, single-story professional plaza located in the heart of Margate, Florida. The 87-percent-occupied Property is anchored by the Department of Business and Professional Regulation (DBPR) and the Florida Department of Juvenile Justice, and features a diverse mix of service-oriented tenants primarily providing government, medical and professional services. The Property also boasts an above-market parking ratio of nearly six parking spaces per 1,000 square feet, and includes an undeveloped pad site at the northwest corner of the parcel that can developed as a new outparcel. Coconut Creek Professional Plaza is ideally situated on Coconut Creek Parkway, with approximately 440 feet of frontage and a traffic count of over 27,000 vehicles per day. The Property is located just east of State Road 7 (US-441) and less than two miles west of the Florida Turnpike, providing convenient access from all of the surrounding area. Coconut Creek Professional Plaza is located in a densely residential area with approximately 165,000 residents within a three- mile radius, and several residential communities in close proximity; in addition to a proposed 220-unit apartment development that is expected to break ground across the street in the next few months. The Property is also less than a half-mile from the City of Margate’s new suburban downtown development site, a 36-acre proposed city center comprised of residential, hospitality, restaurants and retail.

Investment Highlights

  • Diverse, Service-Oriented, Tenant Mix Consisting Primarily of Government, Medical and Professional Entities
  • 440 Feet of Frontage Along Coconut Creek Parkway with Daily Traffic Counts of Over 27,000 Vehicles
  • Direct Access to Tenant Spaces, Dedicated HVAC Units and Minimal Shared Common Space Provide a Safer Work Environment than Traditional Office Properties
  • Above-Market Parking Ratio with Nearly Six Parking Spaces per 1,000 Square Feet
  • Includes Pad Site on Hard Corner that Can Be Developed as a New Outparcel

Exclusively Listed By

Office

Coconut Creek Professional Plaza

Listing Price: $5,160,000

Cap Rate
7.00%
Gross SF
37,010
Rentable SF
37,010
Price/Gross SF
$139.42
Lot Size
4.20 acres
Year Built
1987

Investment Highlights

  • Diverse, Service-Oriented, Tenant Mix Consisting Primarily of Government, Medical and Professional Entities
  • 440 Feet of Frontage Along Coconut Creek Parkway with Daily Traffic Counts of Over 27,000 Vehicles
  • Direct Access to Tenant Spaces, Dedicated HVAC Units and Minimal Shared Common Space Provide a Safer Work Environment than Traditional Office Properties
  • Above-Market Parking Ratio with Nearly Six Parking Spaces per 1,000 Square Feet
  • Includes Pad Site on Hard Corner that Can Be Developed as a New Outparcel

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale Coconut Creek Professional Plaza (the “Property”), a +/-37,000-rentable-square-foot, single-story professional plaza located in the heart of Margate, Florida. The 87-percent-occupied Property is anchored by the Department of Business and Professional Regulation (DBPR) and the Florida Department of Juvenile Justice, and features a diverse mix of service-oriented tenants primarily providing government, medical and professional services. The Property also boasts an above-market parking ratio of nearly six parking spaces per 1,000 square feet, and includes an undeveloped pad site at the northwest corner of the parcel that can developed as a new outparcel. Coconut Creek Professional Plaza is ideally situated on Coconut Creek Parkway, with approximately 440 feet of frontage and a traffic count of over 27,000 vehicles per day. The Property is located just east of State Road 7 (US-441) and less than two miles west of the Florida Turnpike, providing convenient access from all of the surrounding area. Coconut Creek Professional Plaza is located in a densely residential area with approximately 165,000 residents within a three- mile radius, and several residential communities in close proximity; in addition to a proposed 220-unit apartment development that is expected to break ground across the street in the next few months. The Property is also less than a half-mile from the City of Margate’s new suburban downtown development site, a 36-acre proposed city center comprised of residential, hospitality, restaurants and retail.

Exclusively Listed By

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