7910 W McNab Rd
North Lauderdale, FL 33068
Promenade Shoppes · Retail Property For Sale

Marcus and Millichap is proud to exclusively market Promenade Shoppes, a 39,650 square foot neighborhood shopping center located in the heart of Broward County. The center was recently completed in 2018 and is shadow anchored by a corporately owned Walmart Supercenter. Promenade Shoppes sits on 4.2 acres of land on the south side of McNab Road in the dense municipality of North Lauderdale, Florida. This area benefits from strong customer traffic generated by the Walmart anchor and the multiple outparcels that have recently been developed in front of the subject property. Promenade Shoppes is currently 93 percent occupied and has a diverse service-oriented tenant roster that is anchored by Sun South Health Center, a large T-Mobile franchisee tenant, along with multiple nationally known restaurants. Almost every lease has an initial 10-year term with all tenants paying their NNN pro-rata share of all operating expenses in the property. There are two vacant 1,500 square foot retail bays that can also be combined and allow for immediate upside in rental income for a purchaser to take advantage of. The center has a strong parking ratio over four cars per 1,000 square feet and multiple access points into the property. North Lauderdale is a growing Broward County municipality with over 175,000 people living within its borders. Promenade Shoppes sits just west of Florida’s Turnpike and McNab Road, with a strong average daily traffic count of over 42,000 cars. The property benefits from excellent demographics with over 185,206 people living within three miles. Rarely does a new construction shopping center with multiple national shadow anchors come available in South Florida. Promenade Shoppes is an excellent retail investment opportunity which provides strong long-term cash flow with aggressive three percent annual bumps for 93 percent of the leases along with immediate upside in renting the two vacant small bays.