Fort Lauderdale FL Real Estate & Commercial for Sale
4 Properties Found
The median home value in Fort Lauderdale, FL is $410,000.
the county median home value of $295,000.
The national median home value is $277,796.
The average price of homes sold in Fort Lauderdale, FL is $410,000.
Approximately 45% of Fort Lauderdale homes are owned,
compared to 35% rented, while
20% are vacant.
Fort Lauderdale real estate listings include condos, townhomes, and single family homes for sale.
Commercial properties are also available.
If you like to see a property, contact Fort Lauderdale real estate agent to arrange a tour today! Learn more about Fort Lauderdale.
Stand-Alone Building w/New LED Pole Sign Fronting High Traffic Oakland Park Blvd! This 1,750 sq ft property is currently a Law Office. Immaculately maintained Interior has 3 large offices, 2 bathrooms, receptionist area, large lobby, conference room, kitchen & 2 rooms in the rear for addl offices, etc. Hurricane Impact windows & entry door. Alarm/security/Ring cameras. Newer shingle roof and A/C are in excellent condition. Large, fenced-in backyard for possible expansion. Ample parking, including 1 covered carport. Ideal for a medical, lawyer, accountant, insurance agency, daycare, or similar business seeking high visibility and "free advertising" from high-traffic Oakland Park Blvd. This property is currently zoned for commercial business use as a professional office or similar.
The subject property consists of +/Â 32,200 sf of leasable space, well situated on a large double lot consisting of 81,142 sf or 1.86 acres. There is ample parking at this location with over 130 ground floor parking spaces. The property consists of 4 stories and a large usable basement. This property is anchored by long time tenant BB&T bank, with a new corporate lease. BB&T occupies 4,600 sf of the first floor. They have 5 years left on their base term, with 4, 5Â year options to renew. When this property is leased at market rates, this property will produce +/Â $485,567.48 p/year in net operating income, providing an investor with a strong capitalization rate of 7% on a proÂforma basis. ProÂforma numbers are based on leasing this property at market leasing rates of $19 a square foot net.
The building currently has a few monthÂ to Âmonth tenants and is functional with active certificate of occupancies. The subject property is a valueÂadd opportunity with two paths. Renovating this office building in its current form. The recommended upgrades included paint both interior and exterior, new flooring, new roof, and new landscaping. The estimated costs of these renovations along with the new roof is $300,000. After stabilization based on current market rents in the area ($22 a sf net), this property is projected to net $954,368 per year. Which will provide a strong 18% proforma capitalization rate. The second scenario would be to convert this existing building to a 100 unit, 126 bed licensed assisted living facility. Full city approvals to do this conversion.