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5149 NE 12th Ave

$2,700,000

Description

APEX Capital Realty is proud to exclusively present for sale G & R Industrial Park, a small bay industrial warehouse complex in Oakland Park, FL, consisting of 20,748 SF of building improvements on a 29,644 SF lot. The building is fully occupied by five tenants, and can be easily separated into seven flow through bays, with a total of 16 grade level loading doors at the rear. Three tenants are month to month, one tenant has a lease effective until November 2021, and all tenants are long term paying below market rents. The building and parking lot have been recently renovated and diligently maintained. This opportunity presents solid value add potential to bring net revenues up significantly by turning over new leases at market rate, with landlord expenses being passed through to tenants. No capital improvements needed! Real estate taxes, insurance, maintenance, and common area utilities charges are currently not being passed through to tenants, and paid by landlord. Current NOI of $158,000/year generates nearly a 6% cap rate, with tremendous upside.

Property Overview

  • SALE PRICE: $2,700,000
  • BUILDING SIZE: 20,748 SF
  • LOT SIZE: 29,644 SF
  • NUMBER OF UNITS: 7
  • PRICE / SF: $130.13
  • CAP RATE: 5.9%
  • NOI: $159,107
  • YEAR BUILT: 1976
  • ZONING: 48 – Warehousing, Distribution

Property Highlights

  • Convenient East Broward location
  • Solid value add potential
  • All tenants paying well under market rents
  • 20,748 SF building size
  • 7 small bay units
  • 16 ground level doors in rear
  • Current NOI: $159,107/year

Property Documents

  • 5149 NE 12th Ave - OM -v3 (1)

Address

  • State/county: Florida
  • Country: United States

Detail

Updated on November 18, 2020 at 9:00 am

  • Price: $2,700,000
  • Property Size: 20748 SF
  • Land Area: 29644 SF
  • Property Type: Industrial
  • Property Status: For Sale

Contact info

Jason Abitbol
Jason Abitbol

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