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8001-8085 West McNab Road

Tamarac , Florida 33321

Listing Type:
For Sale
Listing Price:
$4,150,000.00
Property Type:
Retail
Property Subtype:
Neighborhood 
Center
Year Built:
1989
Listing Status:
Active
Building Size:
32586 SqFt
Land Area:
2.75 Acres

Description:

This property is a steal at $4,150,000 or about $126/SF of adjusted building area of 32,856 SF, while comparable sales indicate $150/SF to $185/SF in Broward County. The property reflects a Potential Gross Income Multiplier of only 9.49 times the current rent, with a realistic “going-in” capitalization rate of 6.6% in Year One, at current contract rents. Upon expiration of the lease for the lowest paying (lease was negotiated in January 2007) and largest tenant (5,405 SF), the property reflects a capitalization rate of 7.9% in Year 4, and 8.13%, 8.37%, 8.62%, 8.88%, 9.14% and 9.42% in Years 5 through 10; with an Equity Capitalization Rate (cash on cash) of 9.56% in Year 4, and 10.33%, 11.12%, 11.96%, 12.82%, 13.7% and 14.61% in Years 5 through 10 (an average of 10.1% annually for the 10 year investment period). The property produces an Internal Rate of Return of 15%, with a significant upside potential when the largest space is available for owner-occupancy, or leased at market rents (suitable for a medical group, clinic, education, etc.).

Produces an Internal Rate of Return of 15%, with a significant upside potential
Potential Gross Income Multiplier of only 9.49 times the current rent
Going-in capitalization rate of 6.6% in Year One (7.9% in Year 4)
Cap rates of 7.9%, 8.13%, 8.37%, 8.62%, 8.88%, 9.14% and 9.42% in Years 4 through 10
Equity Capitalization Rate (cash on cash) of 9.56%, 10.33%, 11.12%, 11.96%, 12.82%, 13.7% and 14.61% in Years 4 through 10
Average Equity Cap Rate of 10.1% annually for the 10 year investment period
99.5% Occupied, with an upside for medical use due to high parking ratio

Presented by:

David  Yashar

Director

(310) 724-8043

(310) 710-5626

Click here to email

Listed by:

Keller Williams Realty, Premier Properties

Miami Kendall

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