For Sale
$5,239,000

2099 Park RdHallandale Beach, FL 33009

±17,000 SF Industrial Building, I-95 Access

Overview

Added:
Dec 11, 2024
Days on market:
114
This ±17,000-square-foot industrial warehouse, situated on 0.65 acres in Pembroke Park, Florida, presents a compelling investment opportunity. Located at 2099 S Park Road, this single-tenant property boasts prime accessibility with easy Interstate 95 access. Currently leased at a below-market rate to Evolution Distro, the lease expires August 31, 2025, offering significant upside potential for investors. The property features four loading docks (three dock-high, one grade-level), 16,900 square feet of net rentable space, and approximately 7,500 square feet of industrial outdoor storage (IOS). The building includes recently renovated first and second-floor offices, completed in 2023, and a newly installed 5-ton air conditioning system. With 18-foot ceiling heights, this warehouse is well-suited for a variety of industrial uses. The current NOI is $248,434, with a pro-forma NOI of $304,200, reflecting a pro-forma cap rate of 5.81%. The asking price is $5,239,000, representing a 4.74% cap rate based on current NOI. The property's strategic location and potential for rent increases make it an attractive option for both investors seeking strong returns and owner-users requiring significant space. Built in 1964, this property offers a blend of established infrastructure and significant upside potential. The property is conveniently located south of West Pembroke Road, north of Hallandale Beach Boulevard, and west of I-95.

Highlights

  • $5,239,000 asking price for this 17,000 square foot industrial warehouse.
  • Located in Pembroke Park, FL, at 2099 S Park Road, with easy I-95 access.
  • Features 16,900 square feet of net rentable space, four loading docks, and approximately 7,500 square feet of outdoor storage.
  • Currently leased at below-market rent, expiring August 31, 2025, presenting value-add potential for investors or owner-users.
  • Boasts a 4.74% cap rate and a pro-forma cap rate of 5.81%, with a current NOI of $248,434 and a pro-forma NOI of $304,200.
  • Built in 1964, situated on a 0.65-acre lot, and includes recently renovated first and second-floor offices.

Property Details for 2099 Park Rd

Property type
Warehouses, Industrial properties
Square Feet
17,000 SF
Year Built
1964
Lot Size (sq. ft)
28,314 SF

Location Insight

City
Hallandale Beach
County
Broward
State
Florida
Latitude
25.9924354
Longitude
-80.170601
2099 Park Rd, Hallandale Beach, Florida

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2099 Park Rd
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