11249 Pines Blvd Pembroke Pines, FL 33026
- Retail properties
- 58,659 SF
- 5.43 lot acres
Current Use by Public Records
- Retail properties
Property Details for 11249 Pines Blvd
- Year built
- 1994
- Lot size
- 5.43 lot acres
- Property size
- 58,659 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple interest in a 58,659-square-foot, single-tenant storefront occupied by CITY Furniture, a leading furniture retailer, located at 11249 Pines Blvd, Pembroke Pines, FL 33026. The property sits on a 5.43-acre lot and boasts a 15-year absolute NNN lease with a 2.0% annual rent increase and four 5-year renewal options, ensuring a stable, long-term income stream. The asking price is $13,350,000, representing a price per square foot of $227.59 and a 7.25% cap rate. The property features 4 parking spaces per 1,000 square feet and benefits from its prime location on Pines Blvd, a high-traffic retail corridor with significant visibility and proximity to other major retailers. Built in 1994 and renovated in 2016, this top-performing CITY Furniture location (within their top 5) is situated in a high-income demographic area with average household incomes exceeding $143,100 within a 5-mile radius. The property generates a Net Operating Income (NOI) of $967,870. This sale-leaseback transaction offers a passive, growing income stream backed by a strong, established tenant with a significant market presence in Florida. The current occupancy is 100%. This presents a compelling investment opportunity in a thriving South Florida market experiencing significant population growth.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pembroke Pines
- County
- Broward
- State
- Florida
- Longitude
- -80.297
- Latitude
- 26.0095
