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Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
2002
Sq.Footage
2,323
EXCELLENT OPPORTUNITY TO ACQUIRE A FULLY OCCUPIED 4-UNIT MULTI-TENANT RETAIL STRIP CENTER IN FORT LAUDERDALE FEATURING FOUR ESTABLISHED TENANTS AND IMMEDIATE CASH FLOW. THIS WELL-MAINTAINED 2,323 SF COMMERCIAL BUILDING OFFERS A 6.25% CURRENT IN-PLACE CAP RATE WITH SIGNIFICANT UPSIDE THROUGH FUTURE LEASE RENEWALS AND RENTAL ADJUSTMENTS TOWARD MARKET RATES. THE CURRENT IN-PLACE NOI IS $37,500, WITH A PROJECTED PRO FORMA NOI OF APPROXIMATELY $56,700, CREATING SUBSTANTIAL VALUE-ADD POTENTIAL. LOCATED WITHIN A FEDERALLY DESIGNATED OPPORTUNITY ZONE. IDEALLY LOCATED ON BUSY NW 19TH STREET WITH CONVENIENT ACCESS TO I-95, THE PROPERTY BENEFITS FROM EXCELLENT VISIBILITY, STRONG TRAFFIC EXPOSURE, AND EASY ACCESSIBILITY FOR BOTH CUSTOMERS AND TENANTS. RECENT IMPROVEMENTS INCLUDE A FRESHLY PAINTED EXTERIOR AND A NEWLY SEALED AND STRIPED PARKING LOT, HELPING MINIMIZE NEAR-TERM CAPITAL EXPENDITURES. PROPERTY FEATURES FOUR LEASED RETAIL UNITS, EACH WITH ITS OWN PRIVATE BATHROOM AND AIR CONDITIONING SYSTEM, PROVIDING TENANTS WITH INDIVIDUAL CONTROL AND OPERATIONAL FLEXIBILITY. THE PROPERTY ALSO INCLUDES NINE ON-SITE PARKING SPACES, STABLE RENTAL INCOME, AND AN ATTRACTIVE VALUE-ADD OPPORTUNITY FOR INVESTORS SEEKING BOTH IMMEDIATE CASH FLOW AND LONG-TERM APPRECIATION. CURRENT INCOME PROVIDES SOLID RETURNS, WHILE BELOW-MARKET RENTS OFFER THE POTENTIAL TO INCREASE FUTURE NOI. PRIVATE AND INTERNATIONAL INVESTORS SEEKING AN INCOME-PRODUCING COMMERCIAL ASSET IN FORT LAUDERDALE MARKET
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Parking
Common
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(square feet)
7,080
-
Property Type
Commercial Sale
-
Property Sub Type
Retail
Price
-
Sales Price
$599,900
-
Tax Amount
$9,125
-
Zoning
CB
-
Sq. Footage
2,323
-
Price/SqFt
$258
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Ownership
Corporation
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Location
County
Broward
Elementary School
Middle School
High School
Listing Courtesy of Patricio Sly , Florida Capital Realty
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Realtor
Jarrod Gaylis
Call Jarrod today to schedule a private showing.
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