1995 Oakland Park BlvdFort Lauderdale, FL 33306

This exceptional 20,987 square foot office building, located at 1995 E Oakland Park Blvd, Oakland Park, FL 33306, presents a compelling redevelopment opportunity. Currently operating as a 14-unit, 90% occupied, Class B executive office building with a gross lease structure, the property boasts a strong existing NOI of $300,000 and a 5.00% cap rate. However, the true potential lies in its redevelopment prospects. The 0.77-acre lot allows for significant expansion, with plans already in place for a nine-story residential building featuring 66 apartments averaging 1,000 square feet each, plus ground-floor retail space and a four-level parking structure. The pro-forma NOI for this redevelopment is projected at $450,000, representing a 7.50% cap rate. Built in 1974 and renovated in 2023, the existing building offers immediate income while the site's zoning allows for a maximum building height of 100 feet. The asking price is $5,999,999, translating to $285.89 per square foot and $428,571.36 per unit. This property offers a unique blend of immediate return and substantial long-term growth potential in a vibrant Broward County location. The APN is 4942 24 05 0011.