Forum Plaza 8500-8698 NW 44th St 31,625 SF 89% Leased Retail Building Sunrise, FL 33351 $10,823,964 CAD ($342.26 CAD/SF) 6.48% Cap Rate

Vision Real Estate Advisors, as exclusive advisors, is pleased to present for sale Forum Plaza (the “Property”), a 31,625 square foot neighborhood shopping center prominently situated at the northwest corner of Pine Island Road and NW 44th Street in the Springtree submarket of Sunrise, Florida. This high-profile intersection in central West Broward County benefits from a combined daily traffic count of more than 44,000 vehicles, with approximately 33,881 vehicles on Pine Island Road and 10,339 vehicles on NW 44th Street, providing exceptional visibility and accessibility. The Property also features three points of ingress and egress, ensuring ease of access for both tenants and customers.
Forum Plaza is anchored by Mehfil Restaurant & Banquet Hall, a long-standing tenant since 2002, and supported by a diverse roster of service-oriented tenants providing daily needs and essential services. Aside from the anchor, the average unit size is approximately 1,700 square feet, which is a highly functional suite size that appeals to a wide array of tenants. This configuration not only supports tenant retention but also ensures that any future vacancies can be efficiently backfilled, as spaces of this size are consistently in strong demand.
The Property occupies approximately 3.58 acres and is improved with 156 parking spaces (5/1,000 SF). In addition to its dedicated parking, the Property shares a large parking field with Dollar General, Sunrise KinderCare Preschool, and Strikers Family Entertainment Center, which drives significant traffic and creates natural cross-shopping synergies that enhance tenant performance.
The Property currently produces average in-place rents of $17.70 per square foot, which is approximately 20 percent below prevailing market rents for comparable retail assets in the area. The lease expiration schedule results in a WALT of 2.8 years, giving investors the ability to capitalize on near-term rollover and reposition the rent roll at higher market levels.
Forum Plaza’s appeal is further strengthened by growth in the surrounding area. The recently completed Vista Verde Apartments, located directly across the street, have introduced hundreds of new residential units, expanding the customer base and boosting consumer traffic. The Property also benefits from proximity to Sunrise Corporate Park, the Amerant Bank Arena, and Sawgrass Mills Mall, which is a premier shopping destination drawing millions of annual visitors. In addition, excellent access to the Florida Turnpike, I-95, and the Sawgrass Expressway enhances connectivity for both tenants and customers.
With its prime Springtree submarket location, long-tenured tenant base, optimal suite sizes, multiple access points, shared parking synergies, and clear mark-to-market potential, the Property represents a rare investment opportunity in one of South Florida’s most dynamic retail markets.