Village Shoppes of Coconut Creek | 4690 N State Road 7
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Village Shoppes of Coconut Creek 4690 N State Road 7
51,837 SF 93% Leased Retail Building Coconut Creek, FL 33073 For Sale
INVESTMENT HIGHLIGHTS
- The Village Shoppes of Coconut Creek offers a rare opportunity to acquire a 48,000-square-foot asset at one of the area’s busiest intersections.
- Shadow-anchored by a high-traffic Chick-fil-A, the center draws consistent foot traffic and benefits from conveniently shared ingress/egress.
- With 243 parking spaces and close to national tenants such as The Home Depot, Super Target, and Walgreens, the center thrives in a high-demand area.
- At the signalized intersection of State Road 7 and Wiles Road, the property enjoys unmatched visibility with daily exposure to over 80,000 vehicles.
- This eco-friendly property features extensive landscaping, providing a vibrant, aesthetically pleasing environment for retail and office tenants.
- Near affluent neighborhoods with an average household income of $118,366, the property benefits from a strong consumer base and a growing economy.
EXECUTIVE SUMMARY
The Village Shoppes of Coconut Creek at 4690 N State Road 7 offers the opportunity to acquire a premier commercial asset in one of the city's busiest and most dynamic areas. This sale encompasses the center's main building, which spans approximately 48,000 square feet, with 5,885 square feet of second-story office or additional retail space. At the signalized intersection of State Road 7 and Wiles Road, the property enjoys unparalleled visibility and daily exposure to over 80,000 vehicles.
Shadow-anchored by a high-traffic Chick-fil-A, The Village Shoppes of Coconut Creek benefits from shared ingress/egress and drawing consistent foot traffic. This eco-friendly development features extensive landscaping and decorative vegetation, creating a vibrant, aesthetically pleasing shopping environment. With 243 parking spaces, tenants enjoy ample parking and ease of access.
The center offers a strong retail and office presence, surrounded by local, regional, and national tenants such as The Home Depot, Super Target, and Walgreens. Additionally, the center is conveniently located just down the road from Monarch High School, a 2,344-student campus, increasing exposure to faculty, students, and parents.
Coconut Creek is recognized as one of the Best Cities to Live in America by Money Magazine and a Top 10 Place to Live in Florida by Movoto and NerdWallet, further enhancing the appeal of this property. The surrounding area boasts strong economic demographics, with an average household income of $118,366 per year and average home values nearing $450,000 within a 1-mile radius. Additionally, the area generates $4.2 billion in annual consumer spending within a 5-mile radius. This level of spending suggests a solid consumer base with substantial disposable income, which is a crucial indicator of economic health in the area.
The Village Shoppes of Coconut Creek offers all the elements for a successful business, with the City of Coconut Creek's development strategy focused on creating purposeful, sustainable spaces.
For more information, including a financial overview, please review the Offering Memorandum in the Data Room.
Shadow-anchored by a high-traffic Chick-fil-A, The Village Shoppes of Coconut Creek benefits from shared ingress/egress and drawing consistent foot traffic. This eco-friendly development features extensive landscaping and decorative vegetation, creating a vibrant, aesthetically pleasing shopping environment. With 243 parking spaces, tenants enjoy ample parking and ease of access.
The center offers a strong retail and office presence, surrounded by local, regional, and national tenants such as The Home Depot, Super Target, and Walgreens. Additionally, the center is conveniently located just down the road from Monarch High School, a 2,344-student campus, increasing exposure to faculty, students, and parents.
Coconut Creek is recognized as one of the Best Cities to Live in America by Money Magazine and a Top 10 Place to Live in Florida by Movoto and NerdWallet, further enhancing the appeal of this property. The surrounding area boasts strong economic demographics, with an average household income of $118,366 per year and average home values nearing $450,000 within a 1-mile radius. Additionally, the area generates $4.2 billion in annual consumer spending within a 5-mile radius. This level of spending suggests a solid consumer base with substantial disposable income, which is a crucial indicator of economic health in the area.
The Village Shoppes of Coconut Creek offers all the elements for a successful business, with the City of Coconut Creek's development strategy focused on creating purposeful, sustainable spaces.
For more information, including a financial overview, please review the Offering Memorandum in the Data Room.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
51,837 SF
Building Class
B
Year Built
2009
NOI
$1,551,102
Percent Leased
93%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.29
Lot Size
4.10 AC
Zoning
PCD - Planned Community District
Parking
243 Spaces (4.69 Spaces per 1,000 SF Leased)
Frontage
261 FT on Wiles Rd
AMENITIES
- 24 Hour Access
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
- Monument Signage
ABOUT POMPANO BEACH
Pompano Beach runs north from the City of Deerfield Beach through the City of Pompano Beach in the south and Coconut Creek on the east, while Interstate 95 and the Turnpike run through its center. Additionally, the area is only around 13 miles from downtown Fort Lauderdale and Las Olas and is home to the Pompano and Deerfield beaches on its eastern edge.
Local residents primarily drive retail demand in the area. The local population totals over 260,000 residents and has grown by over 28,000, or over 12%, since 2010. Buying power tends to be higher closer to the beaches in the areas between Lighthouse Point and Hillsboro Beach, as median incomes tend to be higher here.
Retail properties in the area tend to rent at a discount relative to the Fort Lauderdale market average. This relatively affordable area has seen occupancies climb higher as retail tenant demand has increased in the past few years.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
11,599
123,939
363,937
563,011
2029 Population
11,304
122,534
363,940
576,691
2024-2029 Projected Population Growth
-2.5%
-1.1%
0.0%
2.4%
Median Age
38.4
41.1
42.3
41.0
College Degree + Higher
41%
33%
32%
22%
Daytime Employees
8,371
50,318
158,621
260,482
Total Businesses
743
6,753
21,083
33,446
Average Household Income
$118,366
$94,558
$88,203
$87,065
Median Household Income
$102,008
$74,438
$64,666
$62,426
Total Consumer Spending
$148.1M
$1.5B
$4.2B
$6.6B
2024 Households
4,151
47,090
139,068
217,890
Average Home Value
$446,626
$358,981
$348,165
$324,369
NEARBY AMENITIES
RESTAURANTS |
|||
|---|---|---|---|
| Hook's Catch | - | - | In Building |
| SanTo's Modern American Buffet & Sushi | American | $$ | In Building |
| Chick-Fil-A | - | - | 2 min walk |
| Crave Poke | Japanese | - | 7 min walk |
| Mcdonald's | - | - | 6 min walk |
| Starbucks | Cafe | $ | 11 min walk |
RETAIL |
||
|---|---|---|
| State Farm | Insurance | 3 min walk |
| The Home Depot | Home Improvement | 4 min walk |
| Batteries Plus Bulbs | Consumer Electronics | 6 min walk |
| T-Mobile | Wireless Communications | 6 min walk |
| Walgreens | Drug Store | 7 min walk |
| Target | Dept Store | 11 min walk |
HOTELS |
|
|---|---|
| Hampton by Hilton |
105 rooms
5 min drive
|
| La Quinta Inns & Suites |
122 rooms
9 min drive
|
| Marriott |
224 rooms
14 min drive
|
| Courtyard |
110 rooms
14 min drive
|
| Hilton |
199 rooms
15 min drive
|
| DoubleTree by Hilton |
221 rooms
15 min drive
|
PROPERTY TAXES
| Parcel Number | 48-42-18-15-0010 | Improvements Assessment | $12,218,390 |
| Land Assessment | $1,964,300 | Total Assessment | $14,182,690 |
PROPERTY TAXES
Parcel Number
48-42-18-15-0010
Land Assessment
$1,964,300
Improvements Assessment
$12,218,390
Total Assessment
$14,182,690
SALE ADVISOR
SALE ADVISOR
Milton Mekler, Manager
(954) 533-2072
Contact
Milton Mekler is Chief Operating Officer of Miami Manager, a commercial real estate investment firm based in South Florida. The firm focuses on mid-size shopping centers that can be repositioned to increase cash flow and property value. The company also acquires land for mixed-use developments in high-traffic areas in South Florida. Milton’s role with Miami Manager includes identifying and executing acquisitions and managing Miami Manager’s portfolio. His ‘hands-on’ approach has helped the company grow strategically and become one of the most active shopping center owners in South Florida. Milton and his team of experienced real estate professionals have been able to attract from local to national retailers to their retail centers. Some of Miami Manager’s tenants include Starbucks, CVS Pharmacy, Dollar Tree Stores, MetroPCS, Dick’s Sporting Goods, Subway, Trek Bicycle, Xfinity, Chick-fil-A, and Kohl’s Department Stores.
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Village Shoppes of Coconut Creek | 4690 N State Road 7
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