1201 NE 26th St - Apartments CONDO FOR SALE


Wilton Manors, FL 33305
$5,825,000 USD
954-331-1726
1201 NE 26th St, Wilton Manors, FL for Sale
$5,825,000 USD
Apartments CONDO - FOR SALE
1/5
null | 7.01% Cap Rate

1201 NE 26th St
Wilton Manors, FL 33305


HIGHLIGHTS

  • Strategically positioned within a thriving sub-market.
  • Corporate Walgreen’s just signed a 17-year lease extension showing major commitment to the property.
  • Condo association oversees all exterior maintenance.
  • Tenants responsibility for interior spaces and all associated expenses.
  • 4 of 11 tenants are leasing at approx. 40% below market rates due to rapid appreciation in retail and office sectors.
  • Just 2% market vacancy rate, ensuring quick re-rental in the event of turnover.

OVERVIEW

CBRE Inc., as the exclusive advisor, is pleased to present the sale of “Wilton Station Shops,” an ultra-luxurious ground floor retail opportunity totaling just under 18,000 SF. The property comprises 11 retail bays and several storage units, serving as the dedicated retail space for Wilton Station, a 272-unit condominium community built in 2005, located in the heart of Wilton Manors, Florida. Wilton Station Shops stands out as one of the premier properties in Wilton Manors, benefiting from its central location, high-quality construction, and favorable submarket trends, including an overall market vacancy rate of under 2%. Despite being fully occupied, the property has experienced substantial rental growth, with new leases being signed at rates more than 65% higher than existing leases. This trend presents a significant upside for new investors, as nearly 40% of the space is still under older leases set to expire over the next several years. Walgreens, one of the property’s tenants, recently extended their lease for an additional 16 years, demonstrating their long-term commitment to the location.

FOR SALE DETAILS

PRICE

$5,825,000 USD

PRICE/SF

$329 USD /SF

CAP RATE

7.01%

# OF UNITS

1

CONDO SIZE

-

% LEASED

100%

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wilton Station Shops

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

189,840 SF

STORIES

4

BUILDING CLASS

B

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

72

LAND DETAILS

LAND ACRES

9.82 AC

LAND SF

427,759 SF

ZONING

PUD-M

APN/PARCEL ID

49-42-26-BM-0010

ASK ABOUT THIS PROPERTY

954-331-1726

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954-331-1726

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