Plaza at Coral Springs 850 Riverside Dr 93,067 SF Retail Building Coral Springs, FL 33071 $27,304,376 CAD ($293.38 CAD/SF) 6.27% Cap Rate

CBRE, Inc., as the exclusive advisor, is pleased to offer for sale The Plaza at Coral Springs (“Property”), a value-add retail center totaling approximately 93,000 square feet on a prime 10.64-acre infill site immediately adjacent to the Coral Square Mall in Coral Springs, Florida. The Property is anchored by the state-of-the-art, dine-in Paragon Movie Theater and features two dynamic outparcels: Fresenius Kidney Care, which recently signed a new 10-year lease extension, and a high-end Mexican bar and restaurant. The remaining tenants include a mix of medical, restaurant, and various other retail uses that cater to the local population. Strategically positioned directly east of the Coral Square Mall in one of Broward’s most densely populated and growing submarkets, the Property benefits from extremely favorable demographics, providing excellent demand for both retail and future residential redevelopment.
While the Property is fully improved, the City recognizes the importance of adding residential density and a strong demographic to the areas immediately around the mall. There is excellent potential to redevelop the Property into a dense luxury midrise multifamily or mixed-use project in the future. Several multifamily projects are in the early planning stages along the Atlantic Blvd corridor in the immediate vicinity, and the redevelopment potential of the Property will become more apparent as these projects obtain entitlements and begin construction. The existing center offers significant future upside with existing below-market leases, particularly the Paragon Movie Theater, which currently pays only a few dollars per foot above current operating expenses and represents over 30% of the gross leasable space of the center.
The Plaza at Coral Springs benefits from exceptional visibility and accessibility along a high-traffic commercial corridor. Located at 766 Riverside Drive, the Property is embedded within one of Broward County’s most desirable suburban communities—known for its affluence, strong schools, and steady growth. The center is ideally situated near major arterials, including University Drive and Atlantic Blvd, two of the most heavily traveled thoroughfares in the market. This prime location offers outstanding exposure to both local and commuter traffic and places the center in close proximity to national retailers, public schools, and dense residential neighborhoods.
Coral Springs boasts a population of approximately 134,000 residents, with a median household income of $90,643—well above the national average—reflecting the area’s economic stability and consumer spending power. The surrounding area is characterized by a diverse and dynamic population with a median age of approximately 36, placing a significant proportion of residents in prime consumer age brackets. The Plaza’s location within the 33071 zip code places it in a trade area with a strong economic foundation and consistent demand for neighborhood retail. Ongoing residential and commercial development continues to fuel growth, supporting long-term tenancy and investor upside. The Plaza at Coral Springs presents investors with a rare opportunity to acquire a well-located, demographically supported retail asset with significant value-add and development upside in a fundamentally strong and growing South Florida market.