Coral Springs Solid NNN investment $8.7M
- Property Name: Coral Park
- Address: 11421 NW 56th Drive, Coral Springs, FL
- Building Size: 30,000 sq.ft.
- Lot Size: 1.57 Acres
- Lease type: NNN
- Tenant: Charter School with 10+ years left on lease
- Price / sq.ft.: $291/sq.ft.
- Occupancy: 100%
- Year Built: 2008
- NOI: $763,848
- Cap Rate: 8.8%
- Price: $8.7M
Highlights
Coral Park III is part of a private educational campus nestled in the NW corner of Broward County. This 30,000 square foot, 3 story office building is the third and final building in the park. The single tenant is a privately managed public school (Charter School) consolidating 4 campus locations into this premier site. The lease is an absolute NNN lease extending through 2023. The campus is situated on the West side of Coral Ridge Drive just south of the Sawgrass Expressway. There is great visibility from the Sawgrass and easy entrance/exits ramps to Coral Ridge Drive. The income demographics are excellent primarily due to the property bordering the City of Parkland; this dynamic is a positive influencer which encourages the existing area schools to thrive.
