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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 just 500 ft from the 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, a proposed project with grocery, retail, restaurants and entertainment.
The property consists of 3 one acre parcels with 5 one story buildings and parking. Zoned DT-MU (Downtown Mixed-Use) the possibilities are numerous. Units are a mixture of 45 1/1 and 8 2/1. The CAP rate is 5.1% with the current rental rates. Market rental rates will bring up the CAP rate to 6.9%
Zoning: DT-MU (Downtown Multi-Use)
Currently Under Construction: : Cornerstone Plaza
Future Project: City Village
Location Highlights:
Great location in Coral Springs’ Downtown District
Across from Broward Health Coral Springs
Two blocks from The Walk at University