For Sale
$4,150,000

705 8Th AveFort Lauderdale, FL 33311

Two Warehouses, Prime Location, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents two adjacent warehouses totaling 14,500 square feet situated on a combined 22,031 square foot lot in Fort Lauderdale's thriving Progresso neighborhood. Located at 705 and 709 NW 8th Ave, these properties benefit from a central location, minutes from Las Olas, Downtown Fort Lauderdale, and Flagler Village. The buildings, zoned I, comprise two structures: a 9,500 square foot warehouse (705 NW 8th Ave) divided into five bays and currently occupied by three tenants, and a 5,000 square foot warehouse (709 NW 8th Ave) featuring an open layout with two dock-high doors and a single tenant. Both buildings boast 12-foot ceilings and a total of eight dock-high doors. Currently operating under a gross lease structure with four tenants, the property offers a strong net operating income (NOI) of $211,300, resulting in a 5.09% cap rate. The existing leases have less than two years remaining, providing significant flexibility for a new owner to reposition the asset to maximize returns. This presents a compelling opportunity for investors, owner-users, or those seeking a blend of occupancy and rental income in a high-demand Fort Lauderdale market. The asking price is $4,150,000.

Highlights

  • Two adjacent warehouses totaling 14,500 square feet on a 22,031 square foot lot in Fort Lauderdale's Progresso neighborhood.
  • Located at 705 and 709 NW 8th Ave, minutes from major areas like Las Olas and Downtown Fort Lauderdale.
  • Zoned I-1, the property includes a 9,500 SF warehouse (five bays, three tenants) and a 5,000 SF warehouse (open layout, two dock-high doors, one tenant).
  • Features 12-foot ceilings and eight dock-high doors; currently generating $211,300 NOI with a 5.09% cap rate.
  • Asking price: $4,150,000; leases expiring in under two years, offering repositioning potential.

Property Details for 705 8Th Ave

Property type
Warehouses, Industrial properties
Square Feet
14,500 SF
Buildings
2

Location Insight

City
Fort Lauderdale
County
Broward
State
Florida
Latitude
26.1315308
Longitude
-80.1528148
705 8Th Ave, Fort Lauderdale, Florida

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705 8Th Ave
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