Freestanding Industrial / Retail Building

Highlights:

• - 8,895 SF building
• - Built in 1956
• - Zoned B-1
• - Prime Fort Lauderdale location
• - Ideal for Office / Office Building use
• - Versatile space for various business endeavors
• - Strategic visibility and accessibility
• - Timeless charm coupled with modern potential
• - Promising canvas for investment and growth

Description:

This property offers a 9,100 square foot building on a 15,600 square foot lot, prominently located on Andrews Ave. The current layout is adaptable for various businesses, including retail or office uses, making it an excellent fit for an owner-user or investor. With two fenced-in lots, a new roof, and four new air conditioning units, the property presents a compelling investment opportunity. Zoned B-1, allowing for diverse retail and commercial uses, this property is positioned for strong returns. Recent comparable leases indicate a fair market rent of $21.60 per SF on a triple-net basis, offering an annual net income of $196,560 and a market capitalization rate of 8.4% at full asking price. Priced competitively at only $258 per square foot, this property represents a compelling value proposition in a market where comparable properties average $398 per square foot.

Located in vibrant Fort Lauderdale, the area surrounding this property offers a dynamic mix of business and leisure. With its proximity to major highways and the bustling downtown district, it provides convenient access to premier shopping and dining destinations. Nearby points of interest include the upscale Galleria Mall, the vibrant Las Olas Boulevard with its eclectic mix of shops and restaurants, and the picturesque Hugh Taylor Birch State Park. Investors in Office / Office Building properties will appreciate the area's strong economic growth and diverse business opportunities. From its thriving business community to its array of recreational options, the location offers the ideal fusion of work and play.