For Sale
$16,000,000

555 Andrews AvePompano Beach, FL 33069

51,868 SF Office Building, 5.31 Acres

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Pompano Beach office complex, situated on a 5.31-acre lot, offers 51,868 square feet of space in a two-story building. Completely renovated in 2023, including a 40-year certification, this Class B property boasts a modern design and features a beautifully landscaped lake. The building includes a welcoming lobby and ample parking with over 215 spaces. Currently 53% occupied (with occupancy at 100% projected by September 30, 2024), the property features five tenants, one of which has a strong preference to remain and has two five-year renewal options. The I-1 zoning allows for diverse uses, including medical facilities. The asking price is $16,000,000 ($308/SF), with a land value of $46.68/SF. The owner occupies approximately 25% of the space and is willing to lease back or vacate upon sale. Conveniently located near I-95 and the Florida Turnpike, this property offers easy access to major transportation routes. This prime location, five miles north of Downtown Fort Lauderdale, presents a compelling investment opportunity for owner-users or investors. Rent bumps are included in the lease agreements. The property's address is 555 S Andrews Ave, Pompano Beach, FL 33069, APN 494203160010.

Highlights

  • $16,000,000 asking price for a 51,868 SF office building.
  • Multi-tenant property (5 tenants) with 53% occupancy, projected to be fully occupied by 09/30/2024.
  • Class B, two-story building on a 5.31-acre lot in Pompano Beach, FL, built in 1957 and renovated in 2023.
  • 215 parking spaces and I-1 zoning allowing for multiple uses, including medical.
  • Owner/user opportunity with potential leaseback; $308/SF price, $46.68/SF land value.

Property Details for 555 Andrews Ave

Property type
Office properties, Medical offices
Square Feet
51,868 SF
Class
B
Year Built/Renovated
1957/2023
Buildings
1
Stories
2
Lot Size (sq. ft)
231,304 SF

Location Insight

City
Pompano Beach
County
Broward
State
Florida
Latitude
26.22323374
Longitude
-80.13884854
555 Andrews Ave, Pompano Beach, Florida

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555 Andrews Ave
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