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20576718
20576719

3920 Prospect Rd, Fort Lauderdale, FL 33319

JD
FL SL3639184
Marcus & Millichap
MA
FL FL: SL3426196
Marcus & Millichap
Listed by Marcus & Millichap
$3,490,000
577 days on market
Updated 9 days ago

New Construction Strip Center w/ Drive Thru- Owner Financing

Details
APN 49-42-18-36-0040
Property Type Retail
Sub Type Storefront
Square Footage 6,825
Net Rentable (SqFt) 6,825
Units 4
Cap Rate 4.49%
NOI $156,530
Occupancy 80%
Tenancy Multi
Lease Type NNN
Pro-Forma Cap Rate 6.07%
Price per SqFt $511
Year Built 2024
Buildings 1
Stories 1
Lot Size (SqFt) 41,329
Parking Spaces 35 spaces
Parking Per SqFt 5.13
Investment Type Net Lease

NNN Leases, Minimal Management, 80% Occupied

Marketing description

Marcus & Millichap is pleased to present for sale this new construction, NNN Strip Center, located at 3920 Prospect Road North Lauderdale, Florida within the greater Fort Lauderdale MSA. The subject property consists of a 6,825 SF, Four tenant retail strip center with an End Cap Drive Thru on a 41,329 SF lot. Currently occupied by Cali Coffee, LaundroMart, Barber Shop, and a Master Lease. The Strip Center is located off the corner of US Highway 441 and Prospect Road which has over 65,000 Vehicles Per day. The property is situated within 1 miles of the Fort Lauderdale Executive Airport which ranks as one of the Nation's busiest general aviation airports with over 160,000 annual flights.

The property benefits from great visibility and numerous access points. Newly constructed, the center boasts beautiful curb appeal, no deferred maintenance, strong tenants, and easy to manage NNN leases. Constructed in 2024, the property has 18 Feet of clear height, hurricane resistant windows, and a Twin T Concrete roof.

This is an incredible opportunity for an investor to acquire a new, well located, higher return investment in the State of Florida, a no income tax state. The drive thru component of the asset along with the neighboring Murphy USA Gas Station ensures an investor the continued flow of traffic throughout the center.

Investment highlights

  • New Construction Retail Strip w/Drive Thru off the intersection of US Hwy 441 & Prospect Road

  • Ideal Line-up of Quality E-Commerce Resilient Tenants (Cali Coffee, Laundro Mart, Barber Shop)

  • Great Curb Appeal with Easy Access via Prospect Road and US Hwy 441, 65,000 Vehicles Per Day

  • NNN Leases, Minimal Management, All Expenses Reimbursed

  • Property Features 18 Feet of Clear Height, Hurricane resistant windows, and a Twin T Concrete Roof

  • Over 41,000 SF Parcel with 35 Parking Spaces (5 Parking Spaces Per 1,000 SF)

  • Within One Mile From the Fort Lauderdale Executive Airport, one of the Nation's busiest general aviation airports with more than 160,000 annual operations

Listing Contacts

JD
FL SL3639184
Marcus & Millichap
MA
FL FL: SL3426196
Marcus & Millichap
Listed by Marcus & Millichap

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$156,530.00
$13,044.17/mo

Valuation Metrics

0
DSCR
4.49%
Cap Rate
4.49%
ROI

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Additional Information

Name
Jonathan De La Rosa
License
SL3639184
Brokerage
Marcus & Millichap
Brokerage Phone
7865227122
Title
Associate Investments
Brokerage Address
2916 North Miami Avenue
Name
Matthew Albregts
License
FL: SL3426196
Brokerage Phone
786-522-7089
Brokerage Address
2916 North Miami Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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