Corporate Guaranteed ‘The Fresh Market’ | Adjacent to Sawgrass Mills Mall | Miami MSA

12171 W Sunrise Blvd, Plantation, FL 33323, USA
$13,457,563

Description

Marcus & Millichap is pleased to present for sale this Net Leased Fresh Market located at 12171 W Sunrise Blvd in Plantation, Florida. The subject property consists of a free-standing building comprised of 25,095 square feet of retail space and is situated on a large 2.37-acre parcel of land.
The property is ideally located within the area’s extremely dense retail corridor and adjacent to the Sawgrass Mills Mall, the largest outlet and value retail shopping mall in the United States with more than 350 stores and over 2.2 million square feet of retail featuring 23 anchors including prominent brands Bloomingdale’s – The Outlet Store, Century 21, Nordstrom Rack, and Saks Fifth Avenue OFF 5TH. With frontage to W Sunrise Boulevard, a major East-West thoroughfare, the property is highly visible to more than 40,046 vehicles per day. It is also within close proximity to Interstate 595 and I-75.
This location benefits from excellent demographics including over 240,000 full time residents in the immediate trade area with an average household income exceeding $115,000 in the 1-mile radius. The immediate trade area is home to a number of National and Regional retailers, office parks, and technology parks which includes notable names such as American Express, HBO Latin America, Ikea, Sam’s Club, The Home Depot, Best Buy, PetSmart, Walmart, and numerous others. The area is also home to the FLA Live Arena, the arena home of the Florida Panthers, live events, and some of the biggest shows in South Florida.
Fresh Market originally executed a 12 Year Net-Lease in 2013 which runs through November 11th, 2025, and has six five-year options to extend.
On March 5, 1982, the first The Fresh Market store opened in Greensboro on Lawndale Drive, where a store still stands today. Everything about this small, boutique specialty grocery store was designed to enhance the food shopping experience. The initial 14,000-square-foot store differentiated itself from conventional supermarkets with a farmer’s market atmosphere, complete with
locally-grown produce, bins of freshly roasted coffee, an old-world style butcher shop and fish market, in-store bakery, fresh cheeses and cured meats, and floral stands. The original store became the blueprint for other locations to follow. Today, with 159 locations in 22 states, The Fresh Market is still committed to our original values of providing guests with inspiring, fresh food to make every day eating extraordinary.

  • The Fresh Market Corporate Guarantee | 159+ Locations in 22 States
  • Net-Lease with Minimal Landlord Responsibilities
  • Core Real Estate with Incredible Intrinsic Value
  • Large 2.37- Acre Parcel
  • Excellent Access and Great Visibility | Visible to over 40,046 Vehicles/Day
  • Upscale Demographics | 240,000+ Full Time Residents in Immediate Trade Area
  • Affluent Market | Average Household Income Exceeds $115,000 in 1-Mile
  • Next to Sawgrass Mills – the Largest Outlet Mall in the U.S | 350+ Stores Comprised of 2.2M Sq.Ft of Retail and 23 Anchors
  • Sawgrass Mills Undergoing a Multi-Million Dollar Interior and Exterior Renovation and a 170-Room Hotel
  • Fee Simple Allowing for Depreciation
  • Florida Is a No Income Tax State

Property Documents

  • Fresh-Market-Plantation-FL-om-ib
  • City: Plantation
  • State/county: Florida
  • Zip/Postal Code: 33323
  • Country: United States

Detail

  • Price: $13,457,563
  • Year Built: 2003

Additional details

  • CAP RATE: 4.35%
  • NOI: $585,404

Features