7161 Pembroke RdPembroke Pines, FL 33023

Property Details for 7161 Pembroke Rd

Year built

1965

Construction

CONCRETE

Lot size

0.11 AC

Property size (Sq ft)

7,132 SF

Zone code

(B-3)

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

51-41-23-12-0170

APU

514123120170

Description

This 7,000 square foot, two-story mixed-use shopping center in Pembroke Pines, Florida, presents a compelling value-add investment opportunity. Located at 7161 Pembroke Rd, this Class C property boasts eight tenants, currently operating at 100% occupancy with month-to-month leases offering significant rental upside. Built in 1965, the property sits on a 0.11-acre lot zoned B-3 - GENERAL BUSINESS, providing flexibility for future development. The property benefits from a high-traffic location at the intersection of Pembroke Rd and SW 72nd Ave, experiencing approximately 65,000 vehicles daily. Surrounded by a thriving residential community with an average household income of $83,000 within a one-mile radius, the center enjoys proximity to major retailers like Sam's Club, Walmart, Lowe's, and Publix. Convenient access to major transportation arteries, including the Florida Turnpike and University Dr, further enhances its appeal. The property's adjacency to North Perry Airport, with 314,000 annual flight operations and a $285 million economic impact, provides additional foot traffic and tenant potential. The asking price is $1,300,000, with a pro-forma cap rate of 8.21%. Owner financing is available. This property offers immediate potential for increased revenue due to below-market rents and a low submarket vacancy rate of less than 2.5%.

• CAP approach

  CAP return

  Valuation

  6%

  $2,545,337

  6.5%

  $2,349,542

  7%

  $2,181,718

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,741,097

  Geo Method

  $4,741,097

• Alternative Use

  Use

  Valuation

  Residential

  $2,349,542

  Hospitality

  $2,152,168

  Educational

  $1,790,578

  Medical

  $1,852,159

  Retail

  $2,785,344

Location Insight

City

Pembroke Pines

County

Broward

State

Florida

Latitude

25.9955

Longitude

-80.2302

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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