Three retail centers in Tamarac and Lauderhill up for sale for $10.9 million.
By JM Padron, CCIM, CCP, CCIM, CCP, International Commercial Broker
(THE JMTEAM NETWORK)
Three retail centers in Tamarac and Lauderhill up for sale for $10.9 million. Madrid Plaza in Lauderhill Madrid Plaza in Lauderhill The properties total 85,415 square feet: the Commercial Plaza, a 45,000-square-foot property in Tamarac; and Lauderhill strip centers Madrid Plaza and Bon Vale Plaza, a combined 41,415 square feet.The portfolio bring in an excellent upside by means of redevelopment. Asking rents range from $12 to $15 per square foot triple-net with an average TIM of $4.5. With an average occupancy of 74.5%, the CAP rate should be in the neighborhood of 7.8%.The properties are also listed separately: $5.9 million for Commercial Plaza, $2.71 million for Madrid Plaza and $2.56 million for Bon Vale Plaza. -
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