Price Reduced Listing2510 NW 19th Street A-d,Fort Lauderdale, FL 33311
Fort Lauderdale, FL 33311
Description
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 6.57% 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
Details
| MLS # | A12050162 |
|---|---|
| Listing Type | For Sale |
| Style | Retail |
| Sub-Type | Resale |
| Status | Active |
| Year | 2002 |
| Days On Site | 50 |
| Listing Provided By | Florida Capital Realty | Patricio Sly |
Features
| SQ Feet | 2,323 |
|---|---|
| Story(s) | 1 |
| Units | 1 |
| Building(s) | 1 |
| Zoning | CB |
| Acreage | 0.16 |
Parking
| Parking Features | Common, Free Parking |
|---|
Taxes
| Tax Annual Amount | 9125 |
|---|
Location
| Community Features | Shopping |
|---|
Area Information
| State | FL |
|---|---|
| County | Broward |
| City | Fort Lauderdale |
| Zip Code | 33311 |
| Area | 3560 |
| Listing VS Median (in 33311) | |
Price: $569,900 low | high Med: $250,000 sqft: 2,323 low | high Med: 1,056 $ / sqft: $245 low | high Med: $237 On site: 50 low | high Med: 12 | |
Market Activity 33311
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Learn More About This Property
| State | FL |
|---|---|
| County | Broward |
| City | Fort Lauderdale |
| Zip Code | 33311 |
| Area | 3560 |
| Listing VS Median (in 33311) | |
Price: $569,900 low | high Med: $250,000 sqft: 2,323 low | high Med: 1,056 $ / sqft: $245 low | high Med: $237 On site: 50 low | high Med: 12 | |
