For Sale
$2,250,000

3047 Federal HwyFort Lauderdale, FL 33306

High-yield, fully leased medical office

Overview

Added:
Dec 11, 2024
Days on market:
113
This 6,000 sq ft, two-tenant medical office building in Fort Lauderdale, FL, presents a compelling value-add investment opportunity. Located at 3047 N Federal Highway, this Class B property boasts a 100% occupancy rate, with Heartland Dental as an anchor tenant. The building, constructed in 1959 and renovated five years ago, features Class A interior finishes, ample parking (30 spaces), and two ADA-compliant bathrooms. The current NOI is $121,000, yielding a 4.75% cap rate, with a pro-forma NOI of $157,000 and a pro-forma cap rate of 6.00%. The current leases have a remaining term of 4.1 years, with a lease commencement date of January 1, 2024, and expiration on December 31, 2028. The asking price is $2,250,000 ($362.90/sq ft), and rent bumps are included in the lease agreements. Situated on a 3,150 sq ft lot in a high-traffic area (over 100,000 cars daily), this property benefits from excellent visibility and accessibility. The building recently passed its 40-year inspection, and the upstairs tenant's lease expires in December 2024, presenting a significant opportunity to increase rental income. The property includes impact glass windows. This is a rare opportunity to acquire a stable, high-performing asset with significant upside potential in a prime Fort Lauderdale location. The property is zoned B1.

Highlights

  • 6,000 SF, two-tenant medical office building in Fort Lauderdale, FL, with 100% occupancy.
  • Class B building, built in 1959, renovated five years ago, featuring Class A interior finishes.
  • Ample parking (30 spaces) and two ADA-compliant bathrooms.
  • Current NOI of $121,000 (4.75% cap rate); pro-forma NOI of $157,000 (6.00% cap rate).
  • Asking price: $2,250,000 ($362.90/SF). Leases expire December 31, 2028, with rent bumps.
  • High-traffic location (over 100,000 cars daily) on a 3,150 SF lot; excellent visibility and accessibility. Recently passed 40-year inspection.

Property Details for 3047 Federal Hwy

Property type
Office properties, Medical offices
Square Feet
6,200 SF
Class
B
Year Built/Renovated
1959/5
Buildings
1
Stories
2
Units
2

Location Insight

City
Fort Lauderdale
County
Broward
State
Florida
Latitude
26.1667358
Longitude
-80.1170573
3047 Federal Hwy, Fort Lauderdale, Florida

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3047 Federal Hwy
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