1360 N State Road 7 - Freestanding FOR SALE


Margate, FL 33063
$13,000,000 USD
954-299-9456
1360 N State Road 7, Margate, FL for Sale
$13,000,000 USD
Freestanding - FOR SALE
1/9
null | 4.33% Cap Rate

NEW


1360 N State Road 7
Margate, FL 33063


HIGHLIGHTS

  • First time ever on market for sale since 1998
  • Roof replaced in 2022 w/ 20 year warranty
  • High visibility w/ 650 feet of frontage along high traffic corridor
  • Current in-place rents are approximately 35% below market w/ 1.77 WALT
  • 378 parking spaces (5.81/1,000 SF) and multiple points of ingress and egress for seamless consumer flow.
  • Within walking distance of several prominent luxury residential developments

OVERVIEW

*** Link to register to download the offering memorandum in the "Links" section below *** Vision Real Estate Advisors, as exclusive listing agents, is pleased to present for sale Village Plaza, a ±65,060 square foot neighborhood shopping center located at 1360-1454 N State Road 7 in Margate, Florida. Situated on 6.62 acres with over 650 feet of direct frontage, the Property benefits from massive exposure to more than 53,000 vehicles per day. This offering represents a generational value-add opportunity; the asset has been held by the same family for multiple decades, resulting in a low cost basis and significantly under-market rents that have not kept pace with the explosive growth of the South Florida retail landscape. The Property’s current 79% occupancy is a direct byproduct of long-term absentee ownership rather than market demand. In a submarket where retail vacancy sits below 5.0%, Village Plaza offers an immediate "roll up your sleeves" lease-up play. Current average in-place rents are nearly 35% below market, and with a Weighted Average Lease Term (WALT) of just 1.77 years, an investor has the unique ability to reach this rental upside almost immediately. This short-term WALT provides a clear path to transition the asset from a 4.34% in-place cap rate to a stabilized 8.68% yield by Year 3. Furthermore, the concentration of contiguous spaces expiring in the near term allows a savvy investor to strategically reposition and assemble a large block of square footage to attract a new anchor tenant, a rare opportunity in this high-barrier-to-entry market. The center is currently anchored by CSL Plasma and Women in Distress, who combined occupy roughly one-third of the GLA. While both have extensive historical tenancy, their larger footprints provide a unique secondary upside: if vacated, these units can be easily demised into smaller, high-demand suites to further maximize rental premiums. The future value of Village Plaza is underpinned by a massive influx of local residential density. The Property is at the epicenter of three major transformative projects: Cocogate (a 287-unit mixed-use development directly south), Legacy at Margate (a 220-unit multifamily project just east), and the Margate City Center (a proposed 50-acre master-planned development). These projects are located within steps of the plaza, ensuring a permanent captive audience and a dramatic increase in daily foot traffic. With its TOC-C (Transit Oriented Corridor) zoning, ample parking (5.81/1,000 SF), and a functional suite mix, the Property is perfectly positioned for a comprehensive modernizing and re-tenanting strategy. For an investor looking to capitalize on mismanaged potential in a high-growth corridor, Village Plaza represents a rare "home run" opportunity to capture significant alpha through aggressive management and the ongoing urbanization of the Margate trade area.

FOR SALE DETAILS

PRICE

$13,000,000 USD

PRICE/SF

$200 USD /SF

CAP RATE

4.33%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Village Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

280

LAND DETAILS

LAND ACRES

6.62 AC

LAND SF

288,367 SF

ZONING

B-3, Margate

APN/PARCEL ID

48-42-30-04-0011

ASK ABOUT THIS PROPERTY

Elon GerbergVision Real Estate AdvisorsMore Info
954-299-9456

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Elon GerbergVision Real Estate AdvisorsMore Info
954-299-9456

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.