Sienna Shops at Miramar Miramar,Florida

$7,180,000
Property type:Multi-Tenant / Shopping Center

The space

  • Price: $7,180,000
  • Cap Rate: 5.70%
  • Rentable Square Feet: 22,400
  • Net Operating Income: $409,560
  • Price PSF: $320.53
  • Land Area: 6.57 Acres
  • Year Built: 2015
  • Parking Spaces: 95 Parking Spaces
  • Parking Ratio: 4.24 Spaces per 1,000 RSF

Description

2600 S. University Drive
Miramar, FL 33025

Investment Highlights

  • Multi-Tenant Center, 96% Occupied and Offers 95 Parking Spaces
  • Building was Constructed in 2015
  • Located on University Drive with a Daily Traffic Count of Approx. 53,000 Vehicles
  • One and a Half Miles from the Entrance Ramp to Florida’s Turnpike Which has a Daily Traffic Count of More Than 138,000 Vehicles
  • Population in the Area is Over 480,000 Within a Five-Mile Radius of the Subject Property
  • Surrounding National Retailers Include Walmart Supercenter, Sam’s Club, Lowe’s, Publix, Marshalls, Party City, Big Lots, Red Lobster, Taco Bell, Bank of America, Bath & Body Works, LA Fitness, CVS and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Sienna Shops at Miramar, located in Miramar, Florida. Sienna Shops at Miramar is more than 22,000 square feet of multi-tenant retail space. The property is 96 percent occupied and offers 95 parking spaces. Sienna Shops was constructed in 2015. This plaza has accessibility on University Drive with a daily traffic count of approximately 53,000 vehicles.

The surrounding area has exceptional demographics and traffic counts. The property 1.5 miles from the entrance ramp to Florida’s Turnpike which has a daily traffic count of more than 138,000 vehicles. Surrounding national retailers include Walmart Supercenter, Sam’s Club, Lowe’s, Publix, Marshalls, Party City, Big Lots, Red Lobster, Taco Bell, Bank of America, Bath & Body Works, LA Fitness, CVS and many more. Sienna Shops is 2.5 miles from Broward College-South Campus with a total enrollment of 44,000 students. The property is also three miles from North Perry Airport, and Memorial Hospital Pembroke in Pembroke Pines.

The area’s other attractions include Seminole Hard Rock Hotel & Casino, Florida’s largest casino which recently underwent a major expansion; Hard Rock Stadium, home to the NFL’s Miami Dolphins; and Nova Southeastern University with a total enrollment of 25,000 students.

Miramar is 16 miles from Fort Lauderdale, and 19 miles North of Miami. Located in the Broward County metro area, the population in the area is over 480,000 within a five-mile radius of the Subject Property. Broward County contains a total population of 1.9 million people. Since 2000, the county’s population has increased by roughly 268,400 residents. Companies are attracted to the Metro for its tax structure, proximity to Latin American markets, large-educated workforce, and desirable climate.

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