Prospect Gardens Center

Highlights

• Owner user/ value add investment opportunity
• Built in 1961
• 2,322 SF building with 4 units
• Zoning B-2 - General Business
• Easy access and great visibility on Prospect Road
• Opportunity Zone
• Within CRA boundaries
• Average household income over $95,000 within 3-mile radius

Description

SVN Commercial Partners, as exclusive advisor, is pleased to present Prospect Gardens Center (the "Property") a retail strip center in the heart of Oakland Park, Florida. This Property offers convenient access and high visibility with a daily traffic count of over 23,000 vehicles on Prospect Rd and a population exceeding 130,000 within a 3-mile radius. The 2,322 SF building, featuring four units, presents a great opportunity for an owner-user or a value add investor.

Built in 1961, the Property benefits from its strategic location within both an Opportunity Zone and CRA boundaries, offering substantial advantages. Owner-users can take advantage of tax deferral and reduction incentives in the Opportunity Zone, while the Oakland Park CRA provides funding for local businesses through the Business Incentive Program (BIP). The property is located in a B-2 (General Business) zone, with an average household income over $95,000 within a 3-mile radius, offering a strong customer base.

All units are currently leased on a month-to-month basis giving an owner-user flexibility to partially occupy space and generate rental income or fully occupy the building. It also offers a total of eight shared parking spaces and a parking ratio of 3.4 spaces per 1,000 rentable square feet. Don't miss out on this value add owner user opportunity in the thriving retail market of Oakland Park, Florida.

Prospect Gardens Center offers a prime owner-user opportunity in a vibrant retail hub. Situated on NE 44th St (Prospect Road), the Property benefits from high foot traffic and a strong retail presence, making it an attractive option for retail and street retail owner-users. Nearby points of interest include the popular Funky Buddha Brewery and the serene Easterlin Park, which provide a unique draw for both locals and tourists. The Property is conveniently located near I-95 and the Fort Lauderdale-Hollywood International Airport, which is just a short drive away. This provides easy access for travelers and adds to the overall appeal of the location. The city is home to many high-end hotels, restaurants, and attractions, making it an ideal location for both locals and tourists alike. Broward county has seen a 96% year over year occupancy rate, which indicates a strong local economy. Overall, the location of the Property is highly desirable, offering easy access to major transportation routes and a growing and dynamic local community. The combination of a dense population, high traffic counts, and nearby attractions makes Prospect Gardens Center an excellent owner user opportunity.