11249 Pines BlvdPembroke Pines, FL 33026

Property Details for 11249 Pines Blvd

Year built

1994

Lot size

5.43 AC

Property size (Sq ft)

58,659 SF

Property type

Retail properties

Property subtype

Other retail properties

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.

Location Insight

City

Pembroke Pines

County

Broward

State

Florida

Latitude

26.0095

Longitude

-80.297

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