1601 38Th Ave Fort Lauderdale, FL 33311

This exceptional 24,850-square-foot flex warehouse, situated on a 1.6-acre lot in Lauderhill, Florida (33311), presents a compelling value-add investment opportunity. The property boasts a 100% occupancy rate with eight diverse tenants, many holding long-term leases. Built in 1974, this single-story Class C building features nine bays, a 14-foot ceiling height, and a gross lease structure. The property's strategic location within an industrial park, across from UPS, ensures strong tenant demand. With below-market rents, a new owner can significantly increase the return on investment by adjusting rental rates to current market values. The property's strong NOI of $250,000 and a 5.26% cap rate further solidify its investment potential. The asking price is $4,750,000, translating to $191.15 per square foot and $527,778 per unit. The land value alone is $220 per square foot. The property is zoned IU-2, Lauderhill. This is a rare opportunity to acquire a well-located, income-producing industrial asset with significant upside potential.