1064 Sunset StripSunrise, FL 33313

Property Details for 1064 Sunset Strip

Year built

1980

Construction

CONCRETE

Lot size

0.02 AC

Property size (Sq ft)

683 SF

Zone code

B-3

Property type

Office properties

Property subtype

Office buildings

APN

49-41-35-KM-0090

APU

494135KM0090

Description

This fully renovated (2024) 15,638 square foot retail and executive office center in Sunrise, Florida presents a compelling value-add opportunity. Located on 1.17 acres of land with 49 parking spaces, the property boasts 100% occupancy across 20 units, all on NNN leases. The Coast Plaza benefits from a prime location on Sunset Strip, offering excellent visibility and accessibility, just ½ mile from the Florida Turnpike and four miles from I-95. Built in 1980, the extensive 2024 renovations included a new roof with a transferable 10-year warranty, new impact windows and doors, updated electrical panels, new HVAC units, new landscaping, and a brand-new monument sign. A 25-year certification was completed in April 2024. The property features a diverse tenant mix, serving a large residential population (277,000 within a 5-mile radius). Significant value-add potential exists due to 9,188 square feet (59%) of below-market-rate leases, offering future rental increases. The current NOI is $435,544.23, with a pro-forma NOI of $445,582, and an asking price of $5,649,500. A clean Phase I environmental report (2023) is on file. This is a turnkey investment with zero deferred maintenance.

• CAP approach

  CAP return

  Valuation

  6%

  $203,058

  6.5%

  $187,438

  7%

  $174,050

• Comparable approach

  Method

  Valuation

  Relative Method

  $201,772

  Geo Method

  $201,772

• Alternative Use

  Use

  Valuation

  Residential

  $232,424

  Hospitality

  $212,899

  Educational

  $177,129

  Medical

  $183,221

  Retail

  $275,534

Location Insight

City

Sunrise

County

Broward

State

Florida

Latitude

26.1376

Longitude

-80.231

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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