Current Use by Public Records
- Lifestyle centers
Property Details for 7841-7899 Pines Blvd
- Year built
- 1976
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 104,300 square foot retail property, located at 7841-7899 Pines Blvd in Pembroke Pines, Florida (33024), presents a compelling investment opportunity. The property, known as College Plaza, is a multi-tenant shopping center featuring a grocery store and other retail businesses, currently operating at 100% occupancy. Built in 1976 and renovated in 2005, the center boasts a strong NOI of $2,000,000, resulting in a 7.72% cap rate. The asking price is $26,000,000, translating to $249.28 per square foot. The property sits on a 104,031 square foot lot, with a land value of $250 per square foot. The center benefits from ample parking (450 spaces per 1,000 sq ft) and is zoned B-3. The building features stucco exterior, truss and steel roofing with composite roofing material, drywall/plaster interior, concrete/tile flooring, and is equipped with good plumbing and electrical systems. The property's commercial asphalt paving is 8 inches thick with reinforced concrete base. Its prime location in a bustling commercial area, combined with a diverse tenant mix including a U.S. Academy and Hook & Reel Seafood Restaurant, ensures high visibility and consistent foot traffic. This presents a rare chance to acquire a well-established, high-performing retail asset in a growing market.
Value Estimations
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AI approach
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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
- -80.246
- Latitude
- 26.0104
