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6750 - 6790 Pines Boulevard - Westwood Shopping Center - Westwood Shopping Center, Pembroke Pines, FL

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6750 - 6790 Pines Boulevard - Westwood Shopping Center - Westwood Shopping Center

Pembroke Pines, FL 33024-7505 - Southwest Broward Submarket


Property Type:Retail Sub Type:- Status:Existing Year Built:1961
Building Size:10,273 SF Land Area:.53 AC (23,113 SF)
% Leased:
For Sale Price:$1,549,000 Price/SF:$150.78
Cap Rate:4.30 %
Smallest Space:900 SF Largest Space:2,100 SF Total Space Avail:3,000 SF Rent/SF/Yr:
$14.00
Parking:Free Surface spaces are available; Ratio of 1.75/1,000 SF
Features:Bus Line, Pylon Sign, Signage


Space Available:
Floor
SF Avail
Rent
Occupancy
Lease Term
Space Use
 2nd
2,100 SF
$14.00/SF/Yr
Vacant
Negotiable
Retail
 2nd
900 SF
$14.00/SF/Yr
Vacant
Negotiable
Retail
 
10376496
10376495
Space Notes Space Notes  


Floor
SF Avail
Rent/SF/Yr
Occupancy
Lease Term
Space Use
2nd
2,100 SF
$14.00/SF/Yr
Vacant
Negotiable
Retail
2nd
900 SF
$14.00/SF/Yr
Vacant
Negotiable
Retail
Capital Commerical Group Inc is pleased to present the Westwood Shopping Center located in Pembroke Pines, Florida. The property is situated on a 23,808sf ft lot with 10,736 leasable sf ft. This center has great visibility and frontage along Pines/Hollywood Blvd with exposure to traffic counts in excess of 51,300 cars per day. The center is 75 percent occupied by 5 tenants. Tenants within the center operate mostly under gross month-to-month leases with an average rental rate of $14.64 per square foot. (Tenant pays water and electric - separately metered for both water and electric). One tenant is responsible for their pro-rata share of RE taxes and there are three tenants on leases. The retail bays within this center range from 650 to 1800 square feet, with a 3000 square foot office on the second floor. This opportunity allows an investor to substantially improve stable cash flow by increasing the quality of tenancy.

Sale Notes:
The subject property is a retail shopping center located directly on Pines blvd in Pembroke Pines FL. It contains 6 retail bays, and 2 offices on the second floor. There is a total of 10,197 leasable square footage on a large 23,808 sf lot. This building has a great tenant mix, which includes T-Mobile, Fast Tax, CC Hair Salon, large grocery store, Video Hospital, and office tenant. There are currently two vacancies which is the upstairs offices. Long term tenants are paying below market rates. There is significant financial upside to lease the two vacancies, and increase current rents to market value. The current tenants are all on gross leases as well, which they can be moved to net leases
The current gross income is $107,827.44, with $39,052.84 in expenses, netting $68,774.60 per year. When this property is fully leased, and current tenants are moved to market rates and triple net leases, the projected or pro-forma net operating income is $159,155. This pro-forma net income would provide an investor an above market capitalization rate of 10%
Please to not disturb existing tenants all showings please call listing agent in advance
See attached package for detail financial info
West of Florida Turnpike on Pines Blvd

Rizea Paul Trust
Paul Rizea
(954) 323-9337


Rizea Paul Trust
Paul Rizea
(954) 323-9337



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