5701 University DrTamarac, FL 33321

Property Details for 5701 University Dr

Year built

1986

Construction

CONCRETE

Lot size

20.17 AC

Property size (Sq ft)

229,695 SF

Zone code

MU-G

Property type

Retail properties

Property subtype

Community centers

APN

49-41-09-37-0010

APU

494109370010

Description

Midway Plaza, a 218,407-square-foot community shopping center, presents a compelling investment opportunity in western Broward County, Florida. Strategically located at the intersection of University Drive and Commercial Boulevard in Tamarac, this established center boasts a prime infill location within a densely populated area, with 195,000 residents residing within a 3-mile radius. Built in 1986, the center is anchored by a Publix supermarket, a key tenant since its inception. A diverse mix of junior anchors complements Publix, including Ross Dress for Less, Dollar Tree, and Five Below, ensuring a strong tenant base and consistent foot traffic. The property offers multiple suite options, ranging from a minimum of 2,323 square feet to a maximum contiguous space of 19,324 square feet. Currently, 35,354 square feet of space is available for lease, providing flexibility for various retail concepts. This well-established center in the Miami-Fort Lauderdale metro area offers a unique opportunity to capitalize on a thriving retail market. The property's strong anchor tenants, high visibility location, and substantial available space make it an attractive proposition for businesses seeking a presence in this dynamic area. The six total suites provide a variety of options for potential tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $100,384,968

  6.5%

  $92,663,048

  7%

  $86,044,264

• Comparable approach

  Method

  Valuation

  Relative Method

  $170,998,368

  Geo Method

  $170,998,368

• Alternative Use

  Use

  Valuation

  Residential

  $78,164,752

  Hospitality

  $71,598,488

  Educational

  $59,569,104

  Medical

  $61,617,776

  Retail

  $92,663,048

Location Insight

City

Tamarac

County

Broward

State

Florida

Latitude

26.1964

Longitude

-80.2541

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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