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Florida Blue 1970 Sawgrass Mills Cir 5,100 SF Office Building Fort Lauderdale, FL 33323 $9,586,810 CAD ($1,879.77 CAD/SF) 6.25% Cap Rate
Investment Highlights
- 5,100 SF GLA on 0.97 Acres of Land
- Top Ranked Florida Blue Location (70+ throughout Florida)
- Located in hyper-dense submarket with a 1.5% vacancy rate
- Tenant Executed a Three (3) Year Extension through 2029 with 3% annual increases
- A-Class Credit with an Absolute Triple Net Lease (ABS NNN) with no landlord responsibilities
Executive Summary
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.
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.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
5,100 SF
Building Class
A
Year Built
2011
Price
$9,586,810 CAD
Price Per SF
$1,879.77 CAD
Cap Rate
6.25%
NOI
$599,609 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,100 SF
Building FAR
0.12
Lot Size
0.97 AC
Zoning
B-3
Parking
18 Spaces (3.53 Spaces per 1,000 SF Leased)
Amenities
- Waterfront
1 1
Fairly walkable
50/100
Very drivable
80/100
Minimal public transit
10/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 49-40-26-05-0261 | Improvements Assessment | $1,577,892 CAD |
| Land Assessment | $750,444 CAD | Total Assessment | $2,328,336 CAD |
Property Taxes
Parcel Number
49-40-26-05-0261
Land Assessment
$750,444 CAD
Improvements Assessment
$1,577,892 CAD
Total Assessment
$2,328,336 CAD
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Florida Blue | 1970 Sawgrass Mills Cir
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