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College Plaza 7841-7899 Pines Blvd 98,253 SF 100% Leased Retail Building Pembroke Pines, FL 33024 $34,091,499 CAD ($346.98 CAD/SF) 3% Cap Rate
Investment Highlights
- Excellent regional connectivity with access to major South Florida highways and airports, including Fort Lauderdale-Hollywood International Airport
- Prominent retail center situated at a signalized corner with combined traffic counts over 95,000 vehicles per day.
- Located in an affluent trade area with nearly 470,000 residents within five miles and strong average household incomes.
Executive Summary
College Plaza represents an opportunity to acquire a highly visible multi-tenant retail center in the thriving city of Pembroke Pines, Florida. Situated at the heavily trafficked intersection of Pines Boulevard and North University Drive, the property benefits from combined daily traffic counts exceeding 95,000 vehicles, providing advertisers and retailers with remarkable visibility. The asset spans roughly 8.86 acres and includes ample surface parking of 450 spaces, ensuring convenience and accessibility for shoppers.
Constructed in 1976 and substantially renovated in 2005, this center offers a mix of national and regional tenants including dining, personal services, and specialty retail concepts that serve a dense suburban trade area. Nearby demographics illustrate a compelling investment backdrop, with approximately 470,000 residents within a five-mile radius and average household incomes surpassing $94,000. Pembroke Pines continues to experience growth due to its proximity to Fort Lauderdale, Miami, and key transportation links such as I-75 and Florida’s Turnpike.
This property delivers a significant value-add component, with current occupancy around 41–43%, creating upside potential through lease-up and repositioning strategies. With proforma NOI projections at nearly $1.9 million and cap rates in the mid-7% range, investors can leverage both steady in-place income from existing tenants and long-term growth opportunities through strategic leasing. The center’s location within Broward County’s robust retail corridor further ensures sustained demand and consistent foot traffic.
Constructed in 1976 and substantially renovated in 2005, this center offers a mix of national and regional tenants including dining, personal services, and specialty retail concepts that serve a dense suburban trade area. Nearby demographics illustrate a compelling investment backdrop, with approximately 470,000 residents within a five-mile radius and average household incomes surpassing $94,000. Pembroke Pines continues to experience growth due to its proximity to Fort Lauderdale, Miami, and key transportation links such as I-75 and Florida’s Turnpike.
This property delivers a significant value-add component, with current occupancy around 41–43%, creating upside potential through lease-up and repositioning strategies. With proforma NOI projections at nearly $1.9 million and cap rates in the mid-7% range, investors can leverage both steady in-place income from existing tenants and long-term growth opportunities through strategic leasing. The center’s location within Broward County’s robust retail corridor further ensures sustained demand and consistent foot traffic.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
98,253 SF
Building Class
B
Year Built/Renovated
1976/2005
Price
$34,091,499 CAD
Price Per SF
$346.98 CAD
Cap Rate
3%
NOI
$1,022,745 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
8.86 AC
Zoning
B-3 - General Business
Parking
450 Spaces (4.58 Spaces per 1,000 SF Leased)
Frontage
980’ on Pines Blvd
Amenities
- Freeway Visibility
- Signage
- Signalized Intersection
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 51-41-15-05-0030 | Improvements Assessment | $16,828,670 CAD |
| Land Assessment | $6,908,962 CAD | Total Assessment | $23,737,632 CAD |
Property Taxes
Parcel Number
51-41-15-05-0030
Land Assessment
$6,908,962 CAD
Improvements Assessment
$16,828,670 CAD
Total Assessment
$23,737,632 CAD
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College Plaza | 7841-7899 Pines Blvd
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