7841-7899 Pines BlvdPembroke Pines, FL 33024

Property Details for 7841-7899 Pines Blvd

Year built

1976

Property size (Sq ft)

104,300 SF

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.

Location Insight

City

Pembroke Pines

County

Broward

State

Florida

Latitude

26.0104

Longitude

-80.246

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