1701 University DrPembroke Pines, FL 33024

Property Details for 1701 University Dr

Year built

2001

Lot size

6.30 AC

Property size (Sq ft)

21,823 SF

Zone code

(PUD)

Property type

Retail properties

Property subtype

Parking lots & garages

APN

51-41-10-17-0020

APU

514110170020

Description

This exceptional 12,512 square foot retail property, previously occupied by CVS Pharmacy, presents a compelling value-add investment opportunity in Pembroke Pines, Florida. Located at 1701 N University Dr, this fee-simple property sits on a 1.55-acre lot with 75 parking spaces, offering a convenient 6 spaces per 1,000 square feet. Built in 2001, the single-story building boasts a prime location at a high-traffic intersection, experiencing 47,000 vehicles per day. The property features multiple entrances, four private offices, two restrooms, first and second-floor storage, a walk-in cooler, a garage door, and a conveyor belt. A fully built-out pharmacy space with a drive-through is also included. Currently vacant, this property is zoned B-3 General Business, allowing for a wide range of uses including, but not limited to, medical offices, restaurants, and educational facilities. The asking price is $3,600,000, translating to $287.72 per square foot. This property offers significant potential for a savvy investor seeking a high-traffic location and flexible usage options within a thriving commercial center. The property's existing infrastructure minimizes renovation needs, allowing for a swift transition to new tenants and operations. The ample parking and convenient location ensure high visibility and accessibility, making it an attractive proposition for a variety of businesses. The property's strategic location within the Walnut Creek Plaza Commercial Center Master Association further enhances its appeal. This is a rare opportunity to acquire a versatile and well-positioned asset in a dynamic market.

• CAP approach

  CAP return

  Valuation

  6%

  $11,477,162

  6.5%

  $10,594,303

  7%

  $9,837,567

• Comparable approach

  Method

  Valuation

  Relative Method

  $23,585,810

  Geo Method

  $23,585,810

• Alternative Use

  Use

  Valuation

  Residential

  $8,936,691

  Hospitality

  $8,185,961

  Educational

  $6,810,624

  Medical

  $7,044,851

  Retail

  $10,594,303

Location Insight

City

Pembroke Pines

County

Broward

State

Florida

Latitude

26.0248

Longitude

-80.2471

CBSA code

33100

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].