Sea Fan Plaza Lauderdale by the Sea, Florida

$2,195,000
Cap Rate: 6.00%
Property type: Multi-Tenant / Shopping Center

Property Details

Cap Rate: 6.00%
Price: $2,195,000
GLA: 9,385
Pro Forma NOI: $131,168
Price PSF: $233.88
Land Area: 0.18 Acres
Year Built: 1973

253-257 Commercial Blvd
Lauderdale by the Sea, FL 33308

Investment Highlights

• 9,385-Square-Foot Center, 100 Percent Occupied
• Well Below Market Rents for the Immediate Area
• First Floor Retail; Second Floor Office Space
• Located on Commercial Boulevard with a Daily Traffic Count of 43,000 Vehicles
• Subject Property is Within Walking Distance to Fort Lauderdale Beach and Intracoastal Waterway
• More Than 30 Restaurants and Bars in the Lauderdale-By-The-Sea Area – All Within Walking Distance of the Subject Property
• Lauderdale-By-The-Sea is Home to Restaurants, Shopping, Hotels, Vacation Rentals, and Other Accommodations
• Population of Over 200,000 Within A Five Mile Radius
• Part of the Broward County MSA With a Population of 1.9 Million

 

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Sea Fan Plaza, a 9,385-square-foot center located in Lauderdale-By-The-Sea, Florida. The subject property is 100 percent leased with a mix of office and retail tenants. The tenants which occupy Sea Fan Plaza are all paying below market rents for the immediate area. The entire first floor of the subject property is retail, and the second floor is office space.

Sea Fan Plaza is located off Commercial Boulevard with a daily traffic count of 43,000 vehicles. The subject property is conveniently situated between Fort Lauderdale Beach and the Intracoastal Waterway – both within walking distance. The town of Lauderdale-By-The-Sea is a major tourist area in Fort Lauderdale, and is home to restaurants, shopping, hotels, vacation rentals, and other accommodations. There are more than 30 restaurants and bars in the area – all within walking distance of the subject property. There is population of over 200,000 within a five-mile radius. Lauderdale-By-The-Sea is part of the Broward County MSA, which has a population of 1.9 million.

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