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821-841 NW 57th Pl 23,777 SF 100% Leased Industrial Building Fort Lauderdale, FL 33309 $5,495,000 ($231.11/SF) 6.26% Cap Rate
INVESTMENT HIGHLIGHTS
- PRIME LOCATION IN THE HEART OF FORT LAUDERDALE
- EACH UNIT HAS FRONT AND REAR DOCK HIGH BAYS
- FULLY LEASED WITH NNN LEASES
- ACROSS THE STREET FROM FORT LAUDERDALE EXECUTIVE AIRPORT
- SECURE OUTSIDE STORAGE WITH EACH UNIT
- CURRENT IN-PLACE RENTS 20% +/- BELOW SURROUNDING MARKET
EXECUTIVE SUMMARY
Bonvie Realty, as exclusive agent for the Owner, is pleased to offer for sale 821-841 NW 57th Place (the “Property” or “Building”) in Ft. Lauderdale, Florida.
This rare Dock-High industrial asset totals 23,777 rentable square feet on a 1.02 acre site and is currently 100% leased. Situated in one of the nation’s most affluent and desirable submarkets, the Property benefits from strong local demand and has an excellent market position. Although occupancy is stabilized, the Offering provides clear upside: current in-place rents are approximately 20% below prevailing submarket levels. All three leases are NNN with an in place NOI of: $344,244.00. This creates an opportunity for new ownership to raise rents in the future while maintaining the Property’s value alternative appeal. Built in 1972 with solid concrete block construction. Outside storage for each unit. Conveniently located off of Powerline Road with immediate access to I-95 & the Florida Turnpike.
This rare Dock-High industrial asset totals 23,777 rentable square feet on a 1.02 acre site and is currently 100% leased. Situated in one of the nation’s most affluent and desirable submarkets, the Property benefits from strong local demand and has an excellent market position. Although occupancy is stabilized, the Offering provides clear upside: current in-place rents are approximately 20% below prevailing submarket levels. All three leases are NNN with an in place NOI of: $344,244.00. This creates an opportunity for new ownership to raise rents in the future while maintaining the Property’s value alternative appeal. Built in 1972 with solid concrete block construction. Outside storage for each unit. Conveniently located off of Powerline Road with immediate access to I-95 & the Florida Turnpike.
PROPERTY FACTS
| Price | $5,495,000 | Lot Size | 1.02 AC |
| Price Per SF | $231.11 | Rentable Building Area | 23,777 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 6.26% | Year Built | 1972 |
| Property Type | Industrial | Parking Ratio | 0.93/1,000 SF |
| Property Subtype | Manufacturing | Clear Ceiling Height | 12’ |
| Building Class | C | No. Dock-High Doors/Loading | 6 |
| Zoning | I-1 - Light Industrial | ||
| Price | $5,495,000 |
| Price Per SF | $231.11 |
| Sale Type | Investment |
| Cap Rate | 6.26% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 1.02 AC |
| Rentable Building Area | 23,777 SF |
| No. Stories | 1 |
| Year Built | 1972 |
| Parking Ratio | 0.93/1,000 SF |
| Clear Ceiling Height | 12’ |
| No. Dock-High Doors/Loading | 6 |
| Zoning | I-1 - Light Industrial |
AMENITIES
- 24 Hour Access
- Conferencing Facility
- Fenced Lot
- Yard
- Reception
- Storage Space
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Image First
- Services
- -
- -
- Triple Net
- -
- McKees Tees
- Wholesaler
- -
- -
- Triple Net
- -
- TD FENCE
- Services
- -
- -
- Triple Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Image First | Services | - | - | Triple Net | - | |
| McKees Tees | Wholesaler | - | - | Triple Net | - | |
| TD FENCE | Services | - | - | Triple Net | - |
1 1
PROPERTY TAXES
| Parcel Number | 49-42-10-11-0030 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,958,830 |
PROPERTY TAXES
Parcel Number
49-42-10-11-0030
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,958,830
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821-841 NW 57th Pl
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