1350 Plaza | Unanchored Strip Center | Pompano Beach, FL
7.80% Cap Rate | Value Add Retail | Sub $200 PSF | Dense Market
Marketing description
Franklin Street is pleased to present 1350 Plaza — a ±37,312 SF retail center in the heart of Pompano Beach, FL. Currently 97% leased, the property offers strong value-add potential through lease-up and moving rents to current market rates.
Situated on 1.31 acres across five parcels, the property features 43 suites ranging from 567 to 2,070 SF — ideal for local retailers and service providers.
With over 430 feet of dual frontage along South Dixie Highway and more than 25,000 vehicles per day, 1350 Plaza benefits from excellent visibility in both directions. It’s ideally located between E. Atlantic Blvd and E. Commercial Blvd, with direct access to I-95 and the Florida's Turnpike.
Investment highlights
Gross Lease Structure / Upside
• Current gross leases allow for future conversion to NNN
• Opportunity to reduce expenses and increase NOI
Internet-Resistant Tenant Mix
• 43 suites ranging from 567 SF to 2,070 SF
• Diverse tenancy providing stability
Short Lease Term / Value-Add Opportunity
• Only 7% of GLA on month-to-month leases
• Low WALT of 1.6 years creates upside
Below-Market Rents
• Average rents of $22.40 PSF
• Mark-to-market opportunity
Below Replacement Cost Basis
• Offered at sub-$200/SF
• Well below current construction costs
Strong In-Place Yield
• 7.75%+ going-in cap rate
• Immediate day-one cash flow
High Visibility & Frontage
• ±430 feet of dual street frontage
• Access from both east and west sides of S Dixie Hwy
High Traffic Corridor
• S Dixie Hwy sees 25,000+ VPD
• Strong exposure and accessibility
Prime Pompano Beach Location
• Positioned between Commercial Blvd and Atlantic Blvd
• Convenient access to I-95
Dense & Affluent Demographics
• 135,000+ residents within a 3-mile radius
• Strong surrounding consumer base
High Barrier-to-Entry Market
• Located in Broward County, one of South Florida’s most desirable submarkets
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