Synovus Bank - Ft. Lauderdale, FL | 1790 E Commercial Blvd
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Synovus Bank - Ft. Lauderdale, FL 1790 E Commercial Blvd
2,800 SF Retail Building Oakland Park, FL 33334 $6,035,000 ($2,155/SF) 5.25% Cap Rate
Investment Highlights
- The property is located in a residential housing dominated area, creating a direct consumer base from which to draw
- Commercial Blvd is a major retail corridor, and is home to other national/credit tenants including ALDI, Publix Supermarket, Ross Dress for Less, Five
- Ideal, low-management investment for a passive investor in a state with no state income ta
Executive Summary
• Synovus Bank has over 15 years remaining on their current term with 3 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years and at the beginning of each option period, generating additional NOI and hedging against inflation
• The lease is corporate signed by Synovus Bank, who operates over 350 locations nationwide
• Moodys upgrades Synovus outlook to positive and affirms Baa3 credit rating (4/22/2022)
• Synovus Bank is located at the signalized, hard corner intersection of NE 18th Avenue and Commercial Boulevard, featuring a combined 65,200 vehicles passing by daily
• Commercial Blvd is a major retail corridor, and is home to other national/credit tenants including ALDI, Publix Supermarket, Ross Dress for Less, Five Below, CVS, and more
• Strong surrounding tenant synergy increases consumer draw to the immediate trade area and promotes crossover shopping to the site
• The property is equipped with a drive-thru, promoting ease of access and convenience for customers
• The 5-mile trade area is supported by over 301,000 residents and 249,000 employees
• $113,246 average household income in a 3-mile radius
• The lease features 10% rental increases every 5 years and at the beginning of each option period, generating additional NOI and hedging against inflation
• The lease is corporate signed by Synovus Bank, who operates over 350 locations nationwide
• Moodys upgrades Synovus outlook to positive and affirms Baa3 credit rating (4/22/2022)
• Synovus Bank is located at the signalized, hard corner intersection of NE 18th Avenue and Commercial Boulevard, featuring a combined 65,200 vehicles passing by daily
• Commercial Blvd is a major retail corridor, and is home to other national/credit tenants including ALDI, Publix Supermarket, Ross Dress for Less, Five Below, CVS, and more
• Strong surrounding tenant synergy increases consumer draw to the immediate trade area and promotes crossover shopping to the site
• The property is equipped with a drive-thru, promoting ease of access and convenience for customers
• The 5-mile trade area is supported by over 301,000 residents and 249,000 employees
• $113,246 average household income in a 3-mile radius
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,800 SF
Building Class
B
Year Built
2019
Price
$6,035,000
Price Per SF
$2,155
Cap Rate
5.25%
NOI
$316,800
Tenancy
Single
Building Height
1 Story
Walk Score ®
Very Walkable (83)
Bike Score ®
Very Bikeable (75)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 49-42-11-07-3000 | Improvements Assessment | $2,641,940 |
| Land Assessment | $386,060 | Total Assessment | $3,028,000 |
PROPERTY TAXES
Parcel Number
49-42-11-07-3000
Land Assessment
$386,060
Improvements Assessment
$2,641,940
Total Assessment
$3,028,000
1 of 10
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Synovus Bank - Ft. Lauderdale, FL | 1790 E Commercial Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.