5824-5826 Dewey St
Hollywood, FL 33023
Industrial Property For Sale

John DeMarco with Re/Max 5 Star Realty is pleased to present the sale of 5824 - 5826 Dewey Street, Hollywood Florida. This freestanding industrial property consists of 4,260 square feet of leasable space well situated on a large 15,734 square foot lot. The physical building is strategically located just east of US 441 / State Rd 7 and Florida's Turnpike. This property is occupied by 2 long term legacy tenants. The Church has 1 year left on their lease, they occupy 2,700 sf and are currently paying $3,800 a month. The auto dealer is occupying 1,560 sf and is paying $1,300 per month. The auto dealer tenant is on a month to month status. Total current gross operating income is $61,200 per year, netting $46,200 per year. This NOI provides an investor with a strong 7.11% capitalization rate at the full offering price of $650,000.00. Included in this offering package are recent comparable sales. The average selling price per square foot in this are is $163.67 a foot, this property is priced to sell at only only $152 a square foot trading at an 7.11% actual capitalization rate. Market leasing rates in this area average $16 a square foot which gives an investor the opportunity to re-tenant at higher leasing rates. This property can also work for an owner user looking to relocate his business and can use 1,560 sf right away. Please remember to not disturb existing tenant, all showings are by appointment only.