Pembroke Bays (the Property) is a 15,409 SF industrial property located at 1610-1614 S Dixie Highway in Hollywood, Florida. The Property is situated on 0.77 acres and is comprised of one, 1-story building constructed in 1952, and one, 2-story building constructed in 1977. The Property includes 19 units/bays with a mix of long term and month to month tenants paying below market rents. The Property is fully occupied with 16 tenants as of the August 2018 rent roll. The offering represents the opportunity to own a cash flowing industrial asset with the value add opportunity to convert month to month tenants to market rate.
This desirable corridor of Dixie Highway was just rezoned from IM-1 (low intensity industrial and manufacturing district) to PR, or Pembroke Road Mixed Use District. This new liberal zoning allows construction of up to 10 stories, maximum 90% lot coverage, and allows many different uses and opportunities – see vault for zoning analysis completed by seller. This zoning change has increased property values and has encouraged several new developments from breaking ground within close proximity to this property including the re-branding of Big Easy Casino across s
This zoning change has increased property values and has encouraged several new developments from breaking ground within close proximity to this property including the re-branding of Big Easy Casino across street from the Property. This trend is expected to continue over the next 5-10 years.
The Property is in the Southeast Broward industrial submarket cluster and the Southeast Broward industrial submarket. Broward County’s largest industries are healthcare & social assistance, retail trade, and accommodation & food service. Major area employers include Nova Southeastern University, AutoNation, American Express, Spirit Airlines, and Citrix. The area’s demographics include an estimated 2018 population of 172,345 with an average household income of $73,818 within a 3-mile radius of the Property.
This property is well situated on a large ±33,541 SF (±3/4 acre) lot and strategically located on S Dixie Highway in East Hollywood FL with easy access to I-95, Pembroke Road and US 1. Located in Broward County, the Property has convenient access to many major highways. Interstate 95, approximately 1.1 miles to the west, is the main Interstate highway on the east coast, connecting the P
