1970 Sawgrass Mills Cir - Office FOR SALE


Fort Lauderdale, FL 33323
$6,999,000 USD
561-827-3044
1970 Sawgrass Mills Cir, Fort Lauderdale, FL for Sale
$6,999,000 USD
Office - FOR SALE
1/11
null | 6.25% Cap Rate

1970 Sawgrass Mills Cir
Fort Lauderdale, FL 33323


HIGHLIGHTS

  • 5,100 SF GLA on 0.97 Acres of Land
  • Tenant Executed a Three (3) Year Extension through 2029 with 3% annual increases
  • Top Ranked Florida Blue Location (70+ throughout Florida)
  • A-Class Credit with an Absolute Triple Net Lease (ABS NNN) with no landlord responsibilities
  • Located in hyper-dense submarket with a 1.5% vacancy rate

OVERVIEW

Franklin Street is pleased to present Florida Blue located at 1970 Sawgrass Mills Circle in Sunrise, FL. This single-tenant property has 5,100 SF of gross leasable area and is located on an outparcel to the eleventh largest mall in the United States, Sawgrass Mills Outlet Mall. The tenant Florida Blue, has an Absolute Triple Net Lease (NNN), and recently exercised a three (3) year extension with 3% annual rent increases. The original lease term was for 10 years commencing on March 1st, 2011 and had one (1%) percent annual rent increases. The surrounding area boasts many national credit & notable tenants, including Best Buy, AT&T, Publix, and Sawgrass Mills with nearly 2.4 million SF with 350+ retail stores; 24 of which are anchored tenants. This Florida Blue location represents an ideal opportunity for an investor to pick up a well-located property with a strong credit tenant.

FOR SALE DETAILS

PRICE

$6,999,000 USD

PRICE/SF

$1,372 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Florida Blue

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

A

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

B-3

APN/PARCEL ID

49-40-26-05-0261

ASK ABOUT THIS PROPERTY

Dylan MorseFranklin StreetMore Info
561-827-3044

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Dylan MorseFranklin StreetMore Info
561-827-3044

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