351 Plaza
Office | 7.00% CAP | 46,462 SqFt
Marketing description
351 Plaza is a 46,462 Square Foot Office Property Located at 351 South Cypress Road, Pompano Beach, Fl, on a 2.43-acre Lot. Built in 1984 and Renovated in 2026, the Building Features 116 Suites With an 88.07% Occupancy Rate. Its Prime Location in Pompano Beach Offers Businesses a Modern Office Environment With Easy Access to Major Roads and Growing Regional Demand.
Financially, 351 Plaza Generates $1,329,361 in Annual Rental Income, With a Projected Increase to $1,526,993 in the Pro Forma. Operating Expenses Are $589,340 Annually, Resulting in a Net Operating Income (Noi) of $784,177. Projections Suggest a Boost in Noi to $903,252, Highlighting the Property's SOLID Performance and Growth Potential.
The Property's Location in Pompano Beach Provides Excellent Access to I95, the Florida Turnpike, and is Close to Both Fort Lauderdale and Miami. This Central Position Within a Growing Business Hub Makes 351 Plaza an Attractive Option for Tenants Looking for Affordability and Connectivity in South Florida.
The South Florida real estate market, particularly Pompano Beach, is an attractive, growing hub for residential and commercial properties. The property at 351 South Cypress Road benefits from a prime central location in Broward County, offering convenient access to major transportation routes like Interstate 95 and US-1 that connect to key areas across South Florida. Highly accessible via Atlantic Boulevard, it sits within a 10-minute drive of the Cypress Creek and Pompano Beach Tri-Rail stations, providing excellent connectivity for businesses. The surrounding area is anchored by daily-needs retail, including the adjacent Publix Supermarket, and is minutes from transformative developments like the $2 billion mixed-use project, The Pomp, and the Pompano Beach Innovation District, making it ideal for office tenants. With a rapidly growing population and strong median household incomes, the property is well-positioned to benefit from expanding commercial and residential demand in the competitive South Florida market.
Investment highlights
- The property has been fully remodeled with no deferred maintenance, ensuring that it is in excellent condition and ready for occupancy without requiring significant capital expenditures. This positions the property for minimal immediate investment, protecting investor capital and ensuring long-term stability
- 351 Plaza is home to a well-diversified tenant base, providing stable and consistent cash flow. The property is currently 88.07% occupied, with tenants from a variety of industries, offering security and reducing financial risk
- With 11.93% of the building currently unoccupied, there is considerable upside potential in both occupancy and rental rates. Filling the remaining space and adjusting rents to market rates would drive significant increases in rental income and overall property value
- The property features flexible floor plates that can accommodate a wide range of tenants, from office spaces to retail and mixed-use businesses. This adaptability increases its appeal and ensures long-term demand across different sectors.
- Located just east of I-95 in the high-growth Pompano Beach submarket, 351 Plaza benefits from strong connectivity to Fort Lauderdale and Miami. The location provides excellent visibility and easy access, positioning the property in a rapidly developing area with substantial market potential.
- Adjacent to a Publix shopping center, 351 Plaza offers tenants convenient access to various retail, dining, and service amenities. This prime location further enhances the appeal of the property, offering added convenience to both tenants and their customers.
- $28.61/FS:$28.61/FS
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
