ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Lakeside Town Shops – Davie, FL – NN Lease

5796 S. University Drive
Sold

SALE PRICE: $6,131,900
CAP RATE: 5.0%

PROPERTY HIGHLIGHTS:

  • STRATEGICALLY POSITIONED — Outparcel to Super Target, and located across from Home Depot along busy University Drive near other notable retailers
  • QUALITY INVESTMENT — Brand new, 2016 construction with minimal landlord responsibilities and large traffic counts (47,500 ADT University Drive; 34,500 ADT Stirling Road); Florida has no state income tax
  • IDEAL LOCATION — Davie is the most populous municipality labelled as a “town” in Florida, and the 3rd most populous such community in the U.S. Davie is only 9 miles southwest of Fort Lauderdale and about 25 miles north of Miami and is ideally located among major thoroughfares such as the Ronald Reagan Turnpike, I-595 and I-75
  • STRONG CREDIT TENANTS — 100% occupied including national and global credit tenants all with new 10 year leases
  • RENTAL INCREASES — All tenants have fixed rental increases throughout their base terms and renewal options
  • EXPANSIVE TRADE AREA — Over 125,800 households and 350,000 people, with an average household income of $72K+, within five miles of the property. Davie is part of the Miami–Fort Lauderdale–Pompano Beach MSA, which was home to 5,564,635 people at the 2010 census. It is also a significant college town where several nationally known colleges, technical institutes, and universities make up the South Florida Educational Center.
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$6,131,900

6,831 sf

Price:

$6,131,900

Cap Rate:

5.0%

Building Size:

6,831 sf

SF Land Area:

1.18 acres

Current NOI:

$306,595

Lease Type:

NN

Remaining Term:

Ten (10) Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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