Citi Bank Building on 3.25+ Acres225 E Dania Beach Blvd • Dania Beach, FL 33004
Offering Memorandum
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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap RealEstate Investment Services of Florida, Inc. ("Marcus & Millichap") and should not be made available to any other person or entity without the written consent of Marcus & Millichap. ThisMarketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. Theinformation contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, withrespect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, thepresence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or thefinancial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this MarketingBrochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus& Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate InvestmentServices, Inc. © 2018 Marcus & Millichap. All rights reserved.
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ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
225-255 EAST DANIA BEACH BLVDDania Beach, FLACT ID ZAB0390168
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TABLE OF CONTENTS
SECTION
INVESTMENT OVERVIEW 01Offering SummaryAerial Photo
FINANCIAL ANALYSIS 02Tenant Summary
Lease Expiration Summary
Operating Statement
Notes
Pricing Detail
Acquisition Financing
MARKET COMPARABLES 03Sales Comparables
Lease Comparables
MARKET OVERVIEW 04Demographic Analysis
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INVESTMENT
OVERVIEW
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225-255 EAST DANIA BEACH BLVD
OFFERING SUMMARY
▪ Considerable Upside Due to Below Market Rents
▪ Building Anchored by Citibank With $111 Million in Deposits
▪ 3.25+ Acres with 625 Feet of Frontage on Dania Beach Boulevard
▪ Opportunity to Build 245-Unit Mixed-Use Project
▪ Minutes from Fort Lauderdale-Hollywood International Airport, I-95, and Beaches
INVESTMENT HIGHLIGHTS
Marcus & Millichap is proud to exclusively present 225-255 East Dania Beach Boulevard a two-story multi-tenant office building located in Dania Beach, Florida. This officebuilding is situated on a 3.27-acre parcel (or 142,230 square feet) and offers approximately 54,912 square feet of rentable space. 225-255 East Dania Beach Boulevard iscurrently 73% occupied by a mix of professional and credit tenants including Citibank, complete with drive-through lanes, and the headquarters of the travel agency,Cruise.com. The current tenants are short-term or month to month leases at below-market rents, positioning substantial upside through leasing vacant suites, increasing rents,and implementing long-term leases. The property has direct frontage on East Dania Beach Boulevard, just off highly traveled South Federal Highway, and is easily accessedfrom I95 and I595. Additionally, the property offers multiple points of ingress and egress, as well as 200 parking spaces, to accommodate heavy traffic.
The subject property is in East Dania Beach Boulevards Mixed Used District, in the heart of Dania Beach's development boom positioning this property as an excellentredevelopment play. The liberal EDBB-MU zoning allows for several uses including mixed residential and commercial, retail, office, medical office, hospitality, and extendedstay, to name a few. The density allows up to 245-units with bonus density. The zoning has a FAR of 8 with the potential to build up to seven stories.
Dania Beach is an attractive city in Broward Country located just south of the Fort Lauderdale-Hollywood International Airport and Port Everglades. Dania Beach has seen asubstantial increase in commercial real estate investment and development activity over the past few years as the city evolves to draw in residents, businesses, tourism, andretail. The City's transformation has brought many new residents to Dania Beach. According to GlobeSt, the city's population has increased by 8.1% since 2010. Millennial’sare the biggest contribution to the population growth at 2.7 times the nations average. The subject property is near developments leading the city's transformation includingDania Pointe, a 102-acre mixed-use development with retail, restaurants, hotels, luxury apartments class A offices, and public event space, and The First at Dania Beach, a6.42-acre project on West Dania Beach Boulevard that will include: a new city hall, fire station, office space, hotel, apartment units, retail, and parking. Additionally, 225-255East Dania Beach Boulevard is adjacent to The Casino at Dania Beach and in close proximity to retailers including Publix, Dollar Tree, Bank of America, 7-Eleven, and .2miles from The Place at Dania Beach, a luxury apartment complex.
INVESTMENT OVERVIEW
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225-255 EAST DANIA BEACH BLVD
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OFFERING SUMMARY
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EXECUTIVE SUMMARY
EXPENSESCURRENT $/SF PRO FORMA $/SF
Electric $107,599 $1.96 $107,599 $1.96Water $16,643 $0.30 $16,643 $0.30Elevator $6,047 $0.11 $6,047 $0.11Trash Removal $17,940 $0.33 $17,940 $0.33Repairs & Maintenance $68,837 $1.25 $68,837 $1.25Pest Control $7,111 $0.13 $7,111 $0.13Janitorial $23,345 $0.43 $23,345 $0.43Miscellaneous $8,656 $0.16 $8,656 $0.16Phone $4,309 $0.08 $4,309 $0.08Insurance $56,770 $1.03 $56,770 $1.03Real Estate Taxes $198,608 $3.62 $198,608 $3.62Management Fee $25,000 $0.46 $35,000 $0.64Total Expenses $540,865 $9.85 $550,865 $10.03
VITAL DATACURRENT PRO FORMA
Price $11,000,000 CAP Rate 1.43% 6.51%
Down Payment 100% / $11,000,000 Net Operating Income $157,838 $715,926
Loan Amount $0 Net Cash Flow After Debt Service 1.43% / $157,838 6.51% / $715,926Loan Type Proposed New Total Return 1.43% / $157,838 6.51% / $715,926Interest Rate / Amortization 0% / 0 Years
Rentable SF 54,912Price/SF $200.32Current Occupancy 73.46%Year Built 1966Lot Size 3.27 acre(s)
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles
2018 Estimate Pop 11,304 72,744 241,186
2010 Census Pop 10,496 67,407 223,893
2018 Estimate HH 4,878 33,246 109,152
2010 Census HH 4,492 30,512 100,370
Median HH Income $43,527 $46,997 $50,032
Per Capita Income $24,220 $31,204 $34,230
Average HH Income $55,292 $67,841 $75,169
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PROPERTY SUMMARYOFFERING SUMMARY
THE OFFERINGProperty 225-255 East Dania Beach BlvdPrice $11,000,000Property Address 225 E Dania Beach Blvd, Dania Beach, FLAssessors Parcel Number 50-42-34-29-0020Zoning EDBB-MU
SITE DESCRIPTIONNumber of Floors 2Year Built/Renovated 1966/2017Rentable Square Feet 54,912Lot Size 3.27 ACParking 230Parking Ratio 4.19/1000Intersection/Cross Street US1 and E Dania Beach Blvd
UTILITIESElectric FPLWater Broward CountySewer YesTrash Service Contract
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CONSTRUCTIONParking Surface Asphalt Roof Flat
MECHANICALHVAC CentralElevators Two
E D B B - M U / / D E V E L O P M E N T P O T E N I T A L
• 245 UNITS WITH DENSITY BONUS
• DEVELOPMENT UP TO SEVEN STORIES
• OVER ONE MILLION BULDABLE SQUARE-FEET
AERIAL PHOTO225-255 EAST DANIA BEACH BLVD
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AERIAL PHOTO
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E. Dania Beach BoulevardFr
on
ton
Bo
ule
vard
AERIAL PHOTO
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AERIAL
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AERIAL
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AERIAL
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AERIAL
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PROPERTY PHOTO
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ZONING
OVERVIEW
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ZONING INFORMATION
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E D B B - M U / /
E A S T D A N I A B E A C H B LV D M I X E D U S E D I S T R I C T
D A N I A B E A C H F L C O D E O F O R D I A N C E S
Z O N I N G D E T A I L S
• FAR - MAX EIGHT (8)
• DENSITY - THIRTY-FIVE (35)
DU/AC BY RIGHT, UP TO
SEVENTY-FIVE (75) DU/AC
WITH DENSITY BONUS
• MAXIMUM HEIGHT +
INCENTIVE BONUS – 2
STORIES, 24 FEET BY RIGHT
& UP TO AN ADDITIONAL 2
STORIES. 24 FEET WITH
INCENTIVES
“Intent and purpose. Redevelopment to place a greater emphasis on pedestrian activity and transit supportive development. This will be accomplished by building close to the street, relocating parking facilities behind buildings, and mixing residential and commercial uses at medium to high intensities.”
ZONING INFORMATION
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AREA DEVELOPMENT
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CRA DISTRICT
• The Dania Beach CRA is leading the City’s efforts to transform the downtown area with a new state of the art City Center Development on 6.4 acres of land owned by the City that will incorporate City Hall, public open space, commercial and retail uses, and workforce housing through a public-private partnership.
• In partnership with the Greater Fort Lauderdale Alliance, Broward County, and the State of Florida, the Dania Beach CRA secured the relocation and expansion of Spirit Airlines Corporate Headquarters and Training Facility, which will provide 225 high skilled and top paying jobs within the CRA.
• The Dania Beach CRA is spearheading a City-wide rebranding and marketing initiative to attract and sustain residents, visitors, and business organizations to the City.
• As part of a public-private partnership, the Dania Beach CRA recently secured a $1 million grant from Broward County to install public improvements for the upcoming Trion Project, which is an eight (8) story, 340 market rate residential unit building that includes about 13,000 square feet of ground floor retail, buried utilities, wide sidewalks, a public park with exercise equipment, a fountain, and onsite parking.
• Within the Dania Beach CRA’s expansive and thriving marine industry, Mega Yacht recently completed its $6 million investment of a state-of-the-art marina for mega yachts. The new marina comfortably accommodates up to twenty 200-foot-long mega yachts or 40 smaller boats.
CRA KEY POINTS
• The Dania Beach CRA proudly hosts the annual award-winning Arts and Seafood Festival that attracts about 19,000 visitors a year. The Dania Beach CRA is also proud to host the Dania After Dark Festival, which is a free festival with live music and vendors held on the 2nd Saturdays of each month.
• The Dania Beach CRA is implementing creative solutions to address the City’s shortage of affordable and/or workforce housing by building single-family homes for low to moderate income residents on vacant land owned by the Dania Beach CRA.
• The Dania Beach CRA is actively investing within the business community through incentives such as commercial improvement grants, seminars and workshops, and annual networking events.
• Major developments that are currently under construction in the Dania Beach CRA include the Hilton Tru Hotel, Dania Pointe Phase 2, and several other small residential developments.
• Major developments that are currently in the site plan approval process within the Dania Beach CRA include a Hilton Embassy Suites, The Trion at Dania Beach, Spirit Airlines Corporate Headquarters and Training facility, and GMAX Townhomes.
• Saratoga Crossings, a 128-unit affordable apartment home community, was recently constructed in the Dania Beach CRA.
AREA DEVELOPMENT
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R E C E N T D E V E L O P M E N T & A P P R O V E D P R O J E C T S / /
D A N I A B E A C H
• Wingate Inn Hotel 321 N Federal Hwy
• Holiday Inn Express 205 N Federal Hwy
• Comfort Inn Suites 302 N Federal Hwy
• Tru by Hilton 44 N Federal Hwy
• Stirling Square - North West corner of Sterling Road and Phippen Waiters Road
• Liberty 595 Distribution Center - 4030 State Road 7
• Design Center of America (200,000 SF Office Buildout) - 1855 Griffin Road
• The Place at Dania Apartments 108 E Dania Beach Blvd
• Trion Dania Beach
• Tru by Hilton44 N Federal Hwy
• Avery Dania Pointe 139 S Compass Way
• Marina Lofts 90 North Bryan Road
AREA DEVELOPMENT
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AREA DEVELOPMENT
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FINANCIAL
ANALYSIS
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FINANCIAL ANALYSIS
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TENANT SUMMARY
FINANCIAL ANALYSIS
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TENANT SUMMARY
FINANCIAL ANALYSIS
225-255 EAST DANIA BEACH BLVD
OPERATING STATEMENT
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FINANCIAL ANALYSIS
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PRICING DETAIL
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TENANT PROFILE
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Citibank
General Information
Tenant Name Citibank
Website https://online.citi.com/
Headquartered New York, New York
Rentable Square Feet 4,600 SF
Percentage of RBA 0.08%
Lease Commencement 1/1/2016
Lease Expiration 12/31/2020
No. of Locations Over 2,500 Branches Across the Globe
The location does over $111 million in deposits.
Cruise.com
General Information
Tenant Name Cruise.com
Website https://www.cruise.com/
Headquartered Headquartered in Subject Property
Rentable Square Feet 11,300 SF
Percentage of RBA 0.21%
Lease Commencement 2/1/2012
Lease Expiration 2/1/2022
One of the largest internet cruise specialists. Conveniently located just minutes from
Port Everglades and Fort Lauderdale International Airport, our location is ideally
located to bring a wealth of travel opportunities to all of our south Florida neighbors.
MARCUS & MILLICHAP CAPITAL CORPORATION CAPABILITIESMMCC—our fully integrated, dedicated financing arm—is committed to
providing superior capital market expertise, precisely managed execution, and
unparalleled access to capital sources providing the most competitive rates and
terms.
We leverage our prominent capital market relationships with commercial banks,
life insurance companies, CMBS, private and public debt/equity funds, Fannie
Mae, Freddie Mac and HUD to provide our clients with the greatest range of
financing options.
Our dedicated, knowledgeable experts understand the challenges of financing
and work tirelessly to resolve all potential issues to the benefit of our clients.
National platform operating
within the firm’s brokerage offices
$6.24 billion total national
volume in 2018
Access to more capital sources than any other
firm in the industry
Optimum financing solutions to enhance value
Our ability to enhance buyer pool by expanding finance options
Our ability to enhance seller control
• Through buyer qualification support
• Our ability to manage buyers finance expectations
• Ability to monitor and manage buyer/lender progress, insuring timely, predictable closings
• By relying on a world class set of debt/equity sources and presenting a tightly underwritten credit file
WHY MMCC?
Closed 1,678 debt and equity
financings in 2018
ACQUISITION FINANCING
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MARKET
COMPARABLES
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225-255 EAST DANIA BEACH BLVD
SALES COMPARABLES MAP
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225-255 EAST DANIA BEACH BLVD(SUBJECT)
2601 E Oakland Park Blvd
Amtrust Bank Plaza
University Office Park Buildings 1-3
2125 Biscayne Blvd
600 South Andrews Building
501 South Andrews Ave
Kennedy Plaza
Office 2020
Office/Redevelopment
Barnett Bank Building
2691 E Oakland Park Blvd
SALES COMPARABLES
ON MARKET COMPARABLES
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2
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10
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36
Avg. $275.68
Avg. $167.90
$0.00
$70.00
$140.00
$210.00
$280.00
$350.00
$420.00
$490.00
$560.00
$630.00
$700.00
PROPERTY NAME225-255 EAST DANIA BEACH BLVD
SALES COMPARABLES
Average Price Per Square Foot
SALES COMPARABLES
ON MARKET COMPARABLES
SALES COMPS AVG
ON MARKET COMPS AVG
37
Avg. $275.68
Avg. $167.90
$0.00
$70.00
$140.00
$210.00
$280.00
$350.00
$420.00
$490.00
$560.00
$630.00
$700.00
PROPERTY NAME225-255 EAST DANIA BEACH BLVD
SALES COMPARABLES
Average Price Per Gross Square Foot
SALES COMPARABLES
ON MARKET COMPARABLES
SALES COMPS AVG
ON MARKET COMPS AVG
PROPERTY NAME
MARKETING TEAM
225-255 EAST DANIA BEACH BLVD
SALES COMPARABLES
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SALES COMPARABLES ON MARKET COMPARABLES
Asking Price $11,000,000
Price/SF $200.32
CAP Rate 1.44%
Occupancy 73%
Parking Ratio 4.19/1000
225-255 EAST DANIA BEACH BLVD225 E Dania Beach Blvd, Dania Beach, FL, 33004
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Close of Escrow 9/5/2019
Sales Price $11,750,000
Rentable SF 59,878
Price/SF $196.23
CAP Rate 6.8%
Occupancy 95%
Parking Ratio 4.00
NOTESThe comparable was acquired by MHCommercial Real Estate Fund as an investment to expand their portfolio in Fort Lauderdale. The property was 95% occupied at the time of sale.
2601 E OAKLAND PARK BLVD2601 E Oakland Park Blvd, Fort Lauderdale, FL, 33306
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Close of Escrow 8/8/2018
Sales Price $14,250,000
Rentable SF 78,134
Price/SF $182.38
CAP Rate 6.9%
Occupancy 80%
Parking Ratio 4.00
NOTESThe seller sold the 78,134 SF office building to take advantage of market conditions. The property was 80% occupied at the time of sale and the buyer plans to increase the property's revenue by leasing up vacant space.
AMTRUST BANK PLAZA8211 W Broward Blvd, Plantation, FL, 33324
PROPERTY NAME
MARKETING TEAM
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SALES COMPARABLES
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SALES COMPARABLES ON MARKET COMPARABLES
NOTESThree property office portfolio.
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Close of Escrow 1/14/2020
Sales Price $10,700,000
Rentable SF 56,778
Price/SF $188.45
Occupancy 58%
Parking Ratio 6.10
UNIVERSITY OFFICE PARK BUILDINGS 1-35400 S University Dr, Davie, FL, 33328
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Close of Escrow 6/13/2019
Sales Price $20,620,000
Rentable SF 63,240
Price/SF $326.06
Occupancy 61%
Parking Ratio 2.40
NOTESPegaso Corp. sold the office building to Novel Coworking, a co-working and office rental company. The buyer plans to renovate the building to be used for modern affordable workspace for small businesses and entrepreneurs.
2125 BISCAYNE BLVD2125 Biscayne Blvd, Miami, FL, 33137
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Close of Escrow 3/7/2019
Sales Price $9,000,000
Rentable SF 36,083
Price/SF $249.42
CAP Rate 6%
Occupancy 97%
Parking Ratio 5
NOTESThe six-story office building was acquired as an investment property by a private investor. The property was 97.3% occupied at the time of sale by strong tenants including Bank of the Ozarks and multiple law firms.
600 SOUTH ANDREWS BUILDING600 S Andrews Ave, Fort Lauderdale, FL, 33301
PROPERTY NAME
MARKETING TEAM
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SALES COMPARABLES
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SALES COMPARABLES ON MARKET COMPARABLES
NOTESNew River Central LLC bought the comparable for $16.25 million and a non-adjacent 25,988 SF parking lot located at 420 South Andrews Avenue for $5 million. The buyer is developing Riverparc Square, a three-tower mixed-use project consisting of office & retail space along with 790 residential units and 297 hotel rooms. The zoning is RAC-CC.
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Close of Escrow 9/20/2019
Sales Price $16,250,000
Rentable SF 65,643
Price/SF $247.55
Parking Ratio 1.82
501 SOUTH ANDREWS AVE501 South Andrews Ave, Fort Lauderdale , FL, 33301
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Close of Escrow 7/16/2019
Sales Price $6,500,000
Rentable SF 40,434
Price/SF $160.76
Occupancy 93%
Parking Ratio 6.77
NOTESThis comparable is inferior to the subject property. The office building was sold as an investment property. The buyer is working to lease the vacant spaces.
KENNEDY PLAZA160 NW 176th St, Miami, FL, 33169
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Close of Escrow 12/17/2019
Sales Price $6,000,000
Rentable SF 24,342
Price/SF $246.49
CAP Rate 5.85%
Occupancy 94%
Parking Ratio 5.34
NOTESThe property was acquired as an investment because of its steady cash flow. The buyer also liked the redevelopment potential of the asset but does not have any plan to redevelop at the current time. The property is zoned B-2.
OFFICE 20202020 NE 163rd St, North Miami Beach, FL, 33162
PROPERTY NAME
MARKETING TEAM
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SALES COMPARABLES
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SALES COMPARABLES ON MARKET COMPARABLES
NOTESThe subject was vacant at the time of sale. The building will be used as office space while the buyer considers redevelopment opportunities.
Zoning SRAC-SaeLand Price/SF: $75.84 Density 50
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Close of Escrow 8/8/2019
Sales Price $5,283,333
Rentable SF 14,720
Price/SF $358.92
Parking Ratio 2.45
OFFICE/REDEVELOPMENT 1801 S Andrews Ave, Fort Lauderdale, FL, 33316
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Close of Escrow 12/16/2019
Sales Price $11,000,000
Rentable SF 18,316
Price/SF $600.57
Parking Ratio 4
NOTESThis was sold as a redevelopment play. The buyer plans to develop the Shoppes At Rio Vista which will consist of three buildings: a two-story bank, a one-story retail center, and a 2,205 SF restaurant.
Zoning is B-1.Land Price/SF: $97.47
BARNETT BANK BUILDING901 SE 17th St, Fort Lauderdale, FL, 33316
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On Market
List Price $4,790,000
Rentable SF 28,529
Price/SF $167.90
CAP Rate 6.6%
Occupancy 85%
Parking Ratio 3.08
2691 E OAKLAND PARK BLVD2691 E Oakland Park Blvd, Fort Lauderdale, FL, 33306
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225-255 EAST DANIA BEACH BLVD
LEASE COMPARABLES MAP
225-255 EAST DANIA BEACH BLVD(SUBJECT)
Ryan Law Building
Design Center Office Bldg
Sheridan Executive Centre
Emerald Park Office Center
95 Office Park
Memorial Regional Hospital Primary Care
1818 Sheridan St
4
7
8
9
11
20
12
14
15
16
17
13
18
10
4
7
1
2
3
5
6
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PROPERTY NAME225-255 EAST DANIA BEACH BLVD
LEASE COMPARABLES
43
AVERAGE OCCUPANCY
Avg. 76.16%
0
10
20
30
40
50
60
70
80
90
100
225-255East DaniaBeach Blvd
Ryan LawBuilding
DesignCenter
Office Bldg
SheridanExecutive
Centre
EmeraldPark Office
Center
95 OfficePark
MemorialRegionalHospitalPrimary
Care
1818Sheridan St
PROPERTY NAME225-255 EAST DANIA BEACH BLVD
LEASE COMPARABLES
44
AVERAGE RENT PER SQUARE FOOT
Avg. $28
$0
$3
$7
$10
$13
$17
$20
$23
$26
$30
$33
225-255East DaniaBeach Blvd
Ryan LawBuilding
DesignCenter
Office Bldg
SheridanExecutive
Centre
EmeraldPark Office
Center
95 OfficePark
MemorialRegionalHospitalPrimary
Care
1818Sheridan St
PROPERTY NAME
MARKETING TEAM
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LEASE COMPARABLES
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Available SF 14,692
Asking Rent/SF $12.18
Year Built 1966
Occupancy 73%
Lease Type Modified Gross
Lot Size 3.27 acre(s)
Parking Ratio 4.19/1000
225-255 EAST DANIA BEACH BLVD225 E Dania Beach Blvd, Dania Beach, FL, 33004
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Survey Date 2/28/2020
Rentable SF 15,000
Available SF 1,983
Asking Rent/SF $24.00
Year Built 1975
Occupancy 87%
Lease Type Modified Gross
Lot Size 3.21
Parking Ratio 3.00
NOTESJanitorial and increases in expenses over base-year are additional to rent.
RYAN LAW BUILDING700 E Dania Beach Blvd, Dania, FL, 33004
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Survey Date 2/28/2020
Rentable SF 60,000
Available SF 1,450
Asking Rent/SF $32.00
Year Built 1987
Occupancy 77%
Lease Type Gross
Lot Size 2.96
Parking Ratio 3.50
DESIGN CENTER OFFICE BLDG1815 Griffin Rd, Dania, FL, 33004
PROPERTY NAME
MARKETING TEAM
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LEASE COMPARABLES
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Survey Date 2/28/2020
Rentable SF 36,485
Available SF 703
Asking Rent/SF $31.50
Year Built 1987
Occupancy 100%
Lease Type Modified Gross
Lot Size 1.69
Parking Ratio 4.20
NOTES$31.50 plus a portion of cleaning costs. 1,756 SF on the first floor was rented for $19.50 NNN.
3
SHERIDAN EXECUTIVE CENTRE3475 Sheridan St, Hollywood, FL, 33021
4
Survey Date 2/28/2020
Rentable SF 82,000
Available SF 650
Asking Rent/SF $29.09
Year Built 1984
Occupancy 96%
Lease Type Modified Gross
Lot Size 5.96
Parking Ratio 4.00
EMERALD PARK OFFICE CENTER2699 Stirling Rd, Fort Lauderdale, FL, 33312
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Survey Date 2/28/2020
Rentable SF 42,420
Available SF 626
Asking Rent/SF $27.50
Year Built 1979
Occupancy 84%
Lease Type Gross
Lot Size 3
Parking Ratio 4.25
95 OFFICE PARK 2700-2750 N 29th Ave, Hollywood, FL, 33020
PROPERTY NAME
MARKETING TEAM
225-255 EAST DANIA BEACH BLVD
LEASE COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
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Survey Date 2/28/2020
Rentable SF 10,000
Available SF 5,000
Asking Rent/SF $30.00
Year Built 1962
Occupancy 50%
Lease Type Modified Gross
Lot Size .46
Parking Ratio 5.40
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MEMORIAL REGIONAL HOSPITAL PRIMARY CARE140 S Federal Hwy, Dania, FL, 33004
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Survey Date 2/28/2020
Rentable SF 6,670
Available SF 4,070
Asking Rent/SF $25.00
Year Built 1985
Occupancy 39%
Lease Type Modified Gross
Lot Size .41
Parking Ratio 3.60
1818 SHERIDAN ST1818 Sheridan St, Hollywood, FL, 33020
225-255 EAST DANIA BEACH BLVD
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MARKET
OVERVIEW
225-255 EAST DANIA BEACH BLVD
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PROPERTY NAME
MARKETING TEAM
225-255 EAST DANIA BEACH BLVD
DEMOGRAPHICS
Source: © 2019 Experian
Created on March 2020
POPULATION 1 Miles 3 Miles 5 Miles▪ 2023 Projection
Total Population 11,491 74,506 246,904▪ 2018 Estimate
Total Population 11,304 72,744 241,186▪ 2010 Census
Total Population 10,496 67,407 223,893▪ 2000 Census
Total Population 10,310 65,139 216,727▪ Current Daytime Population
2018 Estimate 15,338 96,142 318,988HOUSEHOLDS 1 Miles 3 Miles 5 Miles▪ 2023 Projection
Total Households 5,035 34,343 112,711▪ 2018 Estimate
Total Households 4,878 33,246 109,152Average (Mean) Household Size 2.16 2.16 2.18
▪ 2010 CensusTotal Households 4,492 30,512 100,370
▪ 2000 CensusTotal Households 4,368 29,662 99,129
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles▪ 2018 Estimate
$200,000 or More 1.78% 3.88% 5.21%$150,000 - $199,999 1.64% 2.89% 3.95%$100,000 - $149,000 9.43% 11.45% 11.44%$75,000 - $99,999 10.97% 10.90% 11.04%$50,000 - $74,999 19.57% 18.21% 18.39%$35,000 - $49,999 13.61% 13.86% 13.90%$25,000 - $34,999 9.84% 10.75% 10.73%$15,000 - $24,999 15.05% 13.05% 11.81%Under $15,000 17.03% 14.12% 13.38%
Average Household Income $55,292 $67,841 $75,169Median Household Income $43,527 $46,997 $50,032Per Capita Income $24,220 $31,204 $34,230
POPULATION PROFILE 1 Miles 3 Miles 5 Miles▪ Population By Age
2018 Estimate Total Population 11,304 72,744 241,186Under 20 19.06% 19.38% 18.92%20 to 34 Years 19.05% 19.61% 19.89%35 to 39 Years 6.31% 7.04% 7.16%40 to 49 Years 12.48% 14.16% 13.90%50 to 64 Years 23.20% 22.72% 22.11%Age 65+ 19.87% 17.09% 18.01%Median Age 44.81 42.93 42.94
▪ Population 25+ by Education Level2018 Estimate Population Age 25+ 8,569 54,982 183,177Elementary (0-8) 2.45% 2.90% 3.74%Some High School (9-11) 10.76% 7.82% 7.30%High School Graduate (12) 28.92% 29.36% 27.55%Some College (13-15) 22.60% 21.11% 20.71%Associate Degree Only 7.24% 8.91% 8.67%Bachelors Degree Only 17.18% 18.53% 19.27%Graduate Degree 9.38% 9.88% 11.03%
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PROPERTY NAME
MARKETING TEAM
225-255 EAST DANIA BEACH BLVD
DEMOGRAPHICS
Source: © 2019 Experian
Created on March 2020
POPULATION BY TRANSPORTATION TO WORK 1 Miles 3 Miles 5 Miles
▪ 2018 Estimate Total PopulationBicycle 1.49% 1.30% 1.44%Bus or Trolley Bus 4.95% 3.50% 3.97%Carpooled 8.54% 10.62% 9.13%Drove Alone 76.59% 75.08% 75.60%Ferryboat 0.00% 0.00% 0.00%Motorcycle 1.06% 0.79% 0.45%Other Means 1.32% 1.52% 1.32%Railroad 0.25% 0.47% 0.30%Streetcar or Trolley Car 0.00% 0.00% 0.00%Subway or Elevated 0.03% 0.11% 0.08%Taxicab 0.05% 0.07% 0.08%Walked 1.59% 2.09% 2.30%Worked at Home 4.15% 4.44% 5.32%
POPULATION BY TRAVEL TIME TO WORK 1 Miles 3 Miles 5 Miles
▪ 2018 Estimate Total PopulationUnder 15 Minutes 23.32% 21.51% 22.08%15 - 29 Minutes 35.11% 35.38% 35.24%30 - 59 Minutes 26.09% 26.82% 26.62%60 - 89 Minutes 5.09% 5.95% 5.82%90 or More Minutes 1.89% 2.56% 2.08%Worked at Home 4.15% 4.44% 5.32%Average Travel Time in Minutes 28 30 29
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IncomeIn 2019, the median household income for your selected geography is$43,527, compare this to the US average which is currently $58,754.The median household income for your area has changed by 36.83%since 2000. It is estimated that the median household income in yourarea will be $49,411 five years from now, which represents a changeof 13.52% from the current year.
The current year per capita income in your area is $24,220, comparethis to the US average, which is $32,356. The current year averagehousehold income in your area is $55,292, compare this to the USaverage which is $84,609.
PopulationIn 2019, the population in your selected geography is 11,304. Thepopulation has changed by 9.64% since 2000. It is estimated that thepopulation in your area will be 11,491.00 five years from now, whichrepresents a change of 1.65% from the current year. The currentpopulation is 48.91% male and 51.09% female. The median age of thepopulation in your area is 44.81, compare this to the US averagewhich is 37.95. The population density in your area is 3,603.57 peopleper square mile.
HouseholdsThere are currently 4,878 households in your selected geography. Thenumber of households has changed by 11.68% since 2000. It isestimated that the number of households in your area will be 5,035five years from now, which represents a change of 3.22% from thecurrent year. The average household size in your area is 2.16persons.
EmploymentIn 2019, there are 13,521 employees in your selected area, this is alsoknown as the daytime population. The 2000 Census revealed that54.25% of employees are employed in white-collar occupations in thisgeography, and 44.55% are employed in blue-collar occupations. In2019, unemployment in this area is 4.47%. In 2000, the average timetraveled to work was 28.00 minutes.
Race and EthnicityThe current year racial makeup of your selected area is as follows:55.71% White, 38.44% Black, 0.03% Native American and 1.27%Asian/Pacific Islander. Compare these to US averages which are:70.20% White, 12.89% Black, 0.19% Native American and 5.59%Asian/Pacific Islander. People of Hispanic origin are countedindependently of race.
People of Hispanic origin make up 17.23% of the current yearpopulation in your selected area. Compare this to the US average of18.01%.
PROPERTY NAME
MARKETING TEAM
225-255 EAST DANIA BEACH BLVD
HousingThe median housing value in your area was $185,125 in 2019,compare this to the US average of $201,842. In 2000, there were2,154 owner occupied housing units in your area and there were 2,214renter occupied housing units in your area. The median rent at thetime was $587.
Source: © 2019 Experian
DEMOGRAPHICS
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