1601 38Th AveFort Lauderdale, FL 33311

Property Details for 1601 38Th Ave

Year built

1974

Lot size

1.60 AC

Property size (Sq ft)

24,850 SF

Property type

Industrial properties

Property subtype

Other industrial properties

Description

This exceptional 24,850-square-foot flex warehouse, situated on a 1.6-acre lot in Lauderhill, Florida (33311), presents a compelling value-add investment opportunity. The property boasts a 100% occupancy rate with eight diverse tenants, many holding long-term leases. Built in 1974, this single-story Class C building features nine bays, a 14-foot ceiling height, and a gross lease structure. The property's strategic location within an industrial park, across from UPS, ensures strong tenant demand. With below-market rents, a new owner can significantly increase the return on investment by adjusting rental rates to current market values. The property's strong NOI of $250,000 and a 5.26% cap rate further solidify its investment potential. The asking price is $4,750,000, translating to $191.15 per square foot and $527,778 per unit. The land value alone is $220 per square foot. The property is zoned IU-2, Lauderhill. This is a rare opportunity to acquire a well-located, income-producing industrial asset with significant upside potential.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1466

Longitude

-80.2002

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