ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

PDQ – Pembroke Pines, FL – Ground Lease

11211 Pines Boulevard
Sold

SALE PRICE: $3,773,000
CAP RATE: 5.30%

PROPERTY HIGHLIGHTS:

  • PRIME RETAIL — Corner location at signalized intersection of busy Pines Blvd. & Hiatus Rd. with combined 75K cars ADT. Outparcel to Target, HomeGoods & Pembroke Lakes Mall (1M+ SF GLA; super-regional mall with 125 national retailers & restaurants); adjacent to Home Depot-anchored Pembroke Lakes Square. Less than 1 mile from upcoming Pembroke Pines City Center development (350K SF lifestyle center), and less than 3 miles from I-75.
  • LARGE, AFFLUENT TRADE AREA — Over 131,000 households & 390,000 people, with an average household income of $77K+, within 5 miles of the property. As the 10th most populous city in Florida, the Pembroke Pines trade area benefits from nearly 1M people with significant disposable income.
  • ESTABLISHED, RECOGNIZED TENANTRestaurant Business Magazine recently named PDQ as the number 1 fastest growing small chain in America. PDQ now has 50+ locations in AL, FL, GA, NJ, NV, NC, SC & TX.
  • QUALITY INVESTMENT — Corporate ground lease with zero landlord responsibilities and rental increases throughout the base lease term and options. Florida has no state income tax, providing a low tax burden for the investor.
  • EXCELLENT MARKET LOCATION — Pembroke Pines, located between Ft. Lauderdale & Miami, is a principal city of the Miami Metropolitan Area (6M+ people as of 2015; FL’s largest MSA). Its convenient location offers easy accessibility to primary highways and interstates, key employment centers, retail/commercial destinations & more.
  • There are no features available

$3,773,000

4,295 SF

Price:

$3,773,000

Cap Rate:

5.30%

Building Size:

4,295 SF

SF Land Area:

1.16 acres

Current NOI:

$175,000

Lease Type:

Ground

Remaining Term:

Twenty (20) Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Brett Sheldon

(919) 391-9903

Download Offering Memorandum
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