Commercial/Industrial,Retail Space,Shopping Center - Plantation, FL
Freedom Building shopping plaza is located in desirable Plantation Florida, and well positioned on 441 with over 80,000 cars per day. This shopping center is surrounded by several new multi-family projects, new credit tenants, and new office parks. This plaza consists of 9 bays totaling 9800 sf of leasable space, and is 100% occupied. All tenants are on NN double net leases with annual increases. This property is currently grossing $154,375 per year, netting $117,574 per year. Legacy tenants are under market value paying on average $11.60 a foot net. The average leasing rate in this area is $16 a foot net. A new investor can easily re-tenant this property raising rents to $16-$18 p/sf NN. This increase would provide an investor with $164,343 per year or a 7.83% pro- forma cap rate.
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Please call (954) 361-0000.
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