Mixed-Use Property – 3 Acres in Coral Springs, FL – Downtown Development Opportunity
Commercial Sale
Category: Mixed-Use
Price:$8,995,000
Location: Coral Springs, FL
Year Built: 1973
Days on Market: 76
Description:
ATTENTION DEVELOPERS and INVESTORS! Here is your chance to purchase 53 units that are 100% rented, and possibly develop 3 ACRES in the middle of Coral Springs’ Downtown District in the future. 55% of tenants have lived here for over 5 years. Located near intersection of University Dr. and Sample Rd. The area is seeing a great redeveloping with Cornerstone Plaza, a mixed-use property including a full service hotel, luxury apartments, restaurants, and retail space. And coming soon across from Cornerstone Plaza will be City Village. The property consists of 3 one acre parcels with 5 one story buildings and parking. Zoned DT-MU (Downtown Mixed-Use). The CAP rate is 5.1% with the current rates. Market rental rates will bring up the CAP rate to 6.9%. Current financials available upon request.
ATTENTION DEVELOPERS and INVESTORS! Here is your chance to purchase and develop 3 ACRES in the middle of Coral Springs' Downtown District.
Listing Code: 1104163282