5400 S University Drivef, Davie, FL
Office for Sale - $11,500,000 - 56,775 Sq. Ft. on 8 acres


Property Info
CIMLS# | 972173 |
Location 5400 S University Drivef Davie FL 33328 | |
Updated | January 12th, 2018 |
Type | Office |
Price | $11,500,000 |
Building | 56,775 Sq. Ft. |
Land | 8 acres |
Property Description
University Park Holdings is a Class B office building, This property consists of three (3) office/retail buildings located on South University Drive in Davie, FL. The property is rests on 8 acres of land, 1.8 of which is a small lake behind the property.
There are a total of five buildings side-by-side, the two front buildings are owned by another entity. The properties share certain expenses, which helps reduce some costs for operating the property.
The property is currently 100% leased with current rates of $16.50/ft for the base rent and $6.80/ft for the 2017 CAM charges.
The property is primarily utilized for offices, with tenants such as Allstate Insurance, Chubb Insurance (Combined Insurance), TriSpark Media (1-800-411-PAIN) and United Utility Services having their offices at the property.
Current ownership has invested more than $700,000 in the property over the past two years, including painting and sealing all three buildings, new landscaping and sprinkler systems, new signage, new a/c units, new security and camera systems and tenant improvements for more than 30,000 sq ft of the office space.
Property Details:
* Each building is approximately 18,925 sq ft
* Offices range in size from 500 sq ft to 4,000 sq ft
* Total Lot Size: 8.00 acres
* Property includes a lake at the rear of the property
* Approximately 308 parking spaces
* Property has a large storage shed in the back of the property
* Zoning: CC Commercial Corridor, permits expansive office & retail use
of the property
Recent Improvements to the property include:
* Sealing & painting all three buildings
* New landscaping irrigation system
* New landscaping plan developed and installed
*Security Camera system throughout the property
* New a/c units on approximately 50% of the units
* Newly build-out spaces in excess of 30,000 sq ft, including walls,
electrical, plumbing, restrooms, kitchens and flooring