CBRE, Inc. is pleased to offer for sale, 5901 Commons, a VALUE ADD office property. Built in 2008, this newer property is only 2.17% leased offering an investor an opportunity to roll up their sleeves, lease up the property & make a generous return on their investment.
Unleveraged returns are projected to be in the low double digits & leveraged returns with conservative debt are projected to be in the high teen / low 20' s% range.
Replacement costs for an office building today are +$250/sf!
Situated on NW 183rd Street and visible from NW 57th Ave (Red Road) this property is ideally located for an office building for a number of reasons. Given its unparalleled access to I-75, the Palmetto Expressway, and the Florida Turnpike, over 75% of the state' s population can access to the property within an hour' s drive. There are already over 167,000 residents within a 3 mile radius of the property. Additionally, a number of retail and residential options in close proximity to the property make it a very attractive home for almost any business.
