1915 University Dr, Coral Springs, FL 33071-8960
- Turn key restaurants
- 8,422 SF
- 1.81 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 1915 University Dr
- Year built
- 1987
- Construction
- CONCRETE
- Lot size
- 1.81 lot acres
- Zone code
- B-2
- Property type
- Turn key restaurants
- APN
- 48-41-28-01-2510
- APU
- 484128012510
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 25, 2018 | — | Promenade Of Coral Springs LLC | — | Loan Modification · related | $3.5M · City Nat'l Bk/fl |
| — | — | Promenade Of Coral Springs LLC | — | Deed Of Trust · related | $4M · City National Bank Of Florida |
Description
This exceptional investment opportunity presents the Promenade of Coral Springs, a Class A mixed-use property encompassing 58,446 square feet of rentable space. Situated on a 5.23-acre lot in Broward County, Florida, at 1915-1999 N University Dr, Coral Springs, FL 33071, this property boasts two buildings with four stories, offering a blend of office, retail, and outparcel space. Currently housing 22 tenants, the property features a 58.3% occupancy rate with a pro-forma NOI of $1,134,188 and a pro-forma cap rate of 7.85%. The asking price is $14,445,000, translating to $247.15 per square foot. Built in 1988, the property includes 350 parking spaces, providing a generous parking ratio. Tenants benefit from 3% annual rent bumps and NNN lease terms. The property enjoys high visibility on N. University Drive, a major thoroughfare with over 42,500 vehicles per day, and is surrounded by national retailers and a medical center. The retail component includes diverse tenants, and the outparcel is fully occupied by a long-term tenant. Seller financing may be available to qualified buyers at 60% LTV for two years at 6% interest only. This fee-simple ownership opportunity offers significant potential for increased cash flow through higher occupancy and rental rates. The property allows for multi-family redevelopment under the Florida Live Local Act.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $590,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,064,000
Market price range: $894k - $2.19M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Coral Springs
- County
- Broward
- State
- Florida
- Longitude
- -80.2511
- Latitude
- 26.2547
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
