Atlantic Plaza Margate,Florida

$3,900,000
Property type:Multi-Tenant / Shopping Center

The space

  • Price: $3,900,000
  • Cap Rate: 4.11%
  • Pro Forma Cap Rate: 7.43%
  • Rentable Square Feet: 32,518
  • Net Operating Income: $160,391
  • Price PSF: $119.93
  • Year Built/Renovated: 2.4 Acres
  • Occupancy: 1977 / 1998

Description

6896 W Atlantic Blvd.
Margate, Florida 33063

Investment Highlights

  • Over 32,500 Square Feet of Multi-Tenant Medical and Retail Space
  • Value Add Opportunity, Well Below Market Rent
  • 2.4-Acre Lot with 115 Parking Spaces
  • Located on Atlantic Boulevard with a Daily Traffic Count of Approx. 53,500 Vehicles
  • Conveniently Located Between State Road 7 (54,000 Vehicles Daily) and South Rock Island Road (42,000 Vehicles)
  • Surrounding National Retailers Include Walmart Supercenter, Sam’s Club, Home Depot, Best Buy, TJ Maxx, Marshall’s, Publix, Rent-A-Center, Party City, Rack Room Shoes, McDonald’s, Burger King, Taco Bell, Applebee’s TGI Friday’s, Dunkin Donuts, Starbucks, Wells Fargo and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Atlantic Plaza in Margate, Florida. Atlantic Plaza is more than 32,500 square feet of multi-tenant medical and retail space. This is a value-add opportunity with rents well below market. This property is 92 percent occupied with several long-term tenants and offers two vacancies at 2,330 square feet. The property sits on a 2.4-acre lot with 115 parking spaces.

The surrounding area has exceptional demographics and traffic counts. Atlantic Plaza is located on Atlantic Boulevard with a daily traffic count of approximately 53,500 vehicles. Also conveniently located between State Road 7 (54,000 VPD) and South Rock Island Road (42,000 VPD), and two miles from the entrance ramp to Florida’s Turnpike (123,000 VPD). The population in the area is over 413,000 within a five-mile radius of the Subject Property.

Atlantic Plaza is two miles from Coral Square Mall which is anchored by Macy’s, JC Penney, Old Navy and Kohl’s. Other surrounding national retailers include Walmart Supercenter, Sam’s Club, Home Depot, Best Buy, TJ Maxx, Marshall’s, Publix, Rent-A-Center, Party City, Rack Room Shoes, McDonald’s, Burger King, Taco Bell, Applebee’s TGI Friday’s, Dunkin Donuts, Starbucks, Wells Fargo and many more. The property is less than three miles from Broward College – North Campus which has a total enrollment of 67,000 students with 2,000 administrative staff.

Margate, Florida is part of the Broward County metro area and contains a population of 1.9 million people. Margate is 13 miles from Fort Lauderdale, 37 miles north of Miami, and 40 miles south of West Palm Beach.

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