Riverland Park Plaza

Riverland Park Plaza is strategically situated in Fort Lauderdale, Florida, known for its beautiful beaches, canals, and lively downtown. Positioned in Broward County, it offers a blend of urban amenities and natural beauty. The Property is situated between two major east and westbound transportation routes, Broward Blvd and Davie Blvd, providing convenient access to various parts of the city and beyond. Additionally, the property is minutes away from Downtown Fort Lauderdale, Fort Lauderdale-Hollywood International Airport, Brightline train station and various amenities, including Walmart, Planet Fitness, McDonald's, Flanigan's, Wendy's, St. Thomas Aquinas High School, and Checkers, contributing to a dynamic community. North of the Property, you'll find the recently established Riverland Apartments, an upscale resort-style community. Also, construction is underway for The 475 Apartments, featuring 52 units slated for completion in 2024. Together, these developments contribute to the gentrification surrounding 830-890 SW 27th Ave in Fort Lauderdale. With its strategic location, the property offers accessibility and a bustling community environment, appealing to residents and investors.SVN Commercial Partners, as the exclusive advisor, is pleased to present for sale, Riverland Park Plaza, situated at 830-890 SW 27th Ave (the "Property"), a multitenant retail shopping plaza in the heart of Fort Lauderdale, Florida. This +/8,200 rentable square feet property enjoys a strategic location with a +/-16,500 daily traffic count on SW 27th Ave (Riverland Rd) with a population of 131,457 within a 3-mile radius. With a generous parking ratio of 4.25 spaces per 1,000 square feet and an average suite size of approximately 1,000 square feet, offers customers a hasslefree shopping experience. The Property provides convenient ingress/egress access to both north and southbound traffic. The Property is fully occupied, with six of the eight tenants on a month-to-month lease, providing an opportunity for immediate income growth by adjusting rents to market rates and improving the Property's current tenancy. The diverse service-oriented tenants offer e-commerce resistance, ensuring a stable income stream. The Property was formally a gas station and is covered by the Abandoned Tank Restoration Program (ATRP) through the Florida Department of Environmental Protection (FDEP). ATRP funding fully covers the cost of cleanup of petroleum contamination on the property, restoring it as nearly as practicable to its prerehabilitation conditions. Construction is scheduled for Spring 2024.