Monterra Commons
For sale3600 N University Dr, Cooper City, FL 33024
Property type
Retail
Price
$12,700,000
Building size
18,448 SF
Year built
2024
Lot size
0.47 acres
Property description
Monterra Commons is a newly constructed, multi-tenant retail strip center located at 3600 N University Drive in Cooper City, Florida. Built in 2024, the property totals approximately 18,448 square feet on 0.47 acres and is part of The Shoppes at Monterra Commons, a 5.3-acre professionally managed retail development. Positioned along one of Broward County’s strongest retail corridors, the center benefits from exceptional visibility and direct frontage on University Drive, with traffic counts exceeding 44,000 vehicles per day. The property is currently 57% occupied and features a strong mix of essential service and lifestyle tenants, including Cali Coffee (with drive-thru), ISI Elite Training, Gyromania, Svaada, Pines Aesthetic Center, and Playa Bowls. The existing tenancy provides stable in-place income while offering significant upside through the lease-up of approximately 7,900 square feet of vacant space. The center’s modern construction, attractive storefront design, and multiple points of access enhance its long-term leasing appeal. Monterra Commons is adjacent to the newly developed Residences at Monterra Commons, a luxury 55+ community consisting of 175 units, providing built-in consumer traffic. The surrounding retail corridor includes Target, Chick-fil-A, Home Depot, Aldi, First Watch, Culver’s, and The Learning Experience, reinforcing the area’s strong retail synergy. Within a one-mile radius, the property benefits from an average household income of approximately $99,749 and an average home value exceeding $409,000, underscoring the area’s affluent suburban demographics. This offering presents a rare opportunity to acquire a newly delivered retail asset in a high-growth submarket with strong demographics, excellent visibility, and substantial upside potential through lease-up.
Property highlights
- Rare opportunity to purchase a newly constructed multi-tenant retail strip center, that is only 57% occupied, in one of the fastest growing areas of Broward County in one of the strongest rent corridors.
- Part of The Shoppes at Monterra Commons, a 5.3 acre retail development, consisting of five (5) Retail properties, all professionally managed for a hands of investment.
- Un-anchored Strip Center, occupied with essential service retail - including a a Cali Coffee Drive-thru, other major national tenants such as ISI Elite Training, Gyromania, and local tenants including Svaada, Pines Aesthetic Center, ISP Fitness, and Oaxxa Playa Bowls.
- The property offers tremendous upside, with 7,919 SF of vacant retail space ready to lease.
- Neighboring the Residences at Monterra Commons, a newly built, luxury 55+ community consisting of 175 units.
- Access and Signage off of University Blvd, which is part of a strong Retail Corridor including Target, Chick-fil-a, Home Depot, & Aldi Neighboring national tenants within the development include First Watch Restaurant, Culver's Restaurant, and The Learning Experience.
- The site has excellent exposure and frontage on N University Drive – totaling traffic counts exceeding 44,000 vehicles per day
- Strong demographics – estimated average household income of $99,749 and the average house value is $409,078 all within a 1-mile radius of the subject property