For Sale
$1,950,000

1620-1630 12Th TerFort Lauderdale, FL 33305

Multi-tenant industrial building, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 10,680 square foot, multi-tenant warehouse situated on an 11,736 square foot lot in Fort Lauderdale, Florida (33305). The property, boasting a liberal B-3 zoning designation, is ideally suited for an owner-user seeking to capitalize on its significant upside potential. Currently operating at 94% occupancy with five tenants, the building offers six units, each with its own meter, allowing for flexible use and rental income generation. The property features 13-foot ceilings, 10' x 10' overhead doors providing front-to-back access in all warehouse units, and a sizable upstairs space perfect for office build-out. Units 1620, 1622, and 1624 include small interior offices. A right-of-way alongside and behind the building provides additional parking flexibility. While there's no designated parking, each tenant can park one vehicle in front of their bay door. The building, constructed in 1953 and renovated in 1968, benefits from a new roof installed in 2017 (still under warranty) and a recently completed 10-year recertification. The current NOI is $56,587, with a pro-forma NOI of $131,881, reflecting the potential for increased rental income. The asking price is $1,950,000, representing a current cap rate of 2.90% and a pro-forma cap rate of 6.76%. The property's prime location near I-95 and Federal Highway offers unparalleled access to major transportation arteries, downtown Fort Lauderdale, and area beaches. This is a rare opportunity to acquire a well-located, adaptable industrial property with substantial growth potential. The APN is 4942 35 17 0180.

Highlights

  • Ideal owner-user opportunity.
  • New roof (2017), warranty remaining.
  • Convenient I-95, downtown, and beach access.
  • Subdivided with individual utility meters.
  • Warehouse units feature front-to-back access.
  • Spacious upstairs office area.

Property Details for 1620-1630 12Th Ter

Property type
Industrial properties, Manufacturing properties
Square Feet
10,680 SF
Class
C
Year Built/Renovated
1953/1968
Buildings
1
Stories
2
Units
6

Location Insight

City
Fort Lauderdale
County
Broward
State
Florida
Latitude
26.148344
Longitude
-80.131195
1620-1630 12Th Ter, Fort Lauderdale, Florida

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1620-1630 12Th Ter
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