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$ 599,900
Est. payment /mo
New
2510 NW 19th ST #AD Fort Lauderdale, FL 33311
2,323 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 2,323 sqft
Price per Sqft $258
MLS Listing ID A12050162
HOA Y/N No
Year Built 2002
Annual Tax Amount $9,125
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type Retail
Property 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 6.25% 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
Location
State FL
County Broward
Community Shopping
Area 3560
Zoning CB
Interior
Interior Features InteriorFeatures
Fireplace No
Exterior
Parking Features Common, Free Parking
Community Features Shopping
Total Parking Spaces 9
Building
Dwelling Type Retail
Story 1
Others
Tax ID 494232120490
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12050162
Listed by Patricio Sly Florida Capital Realty