890 50Th StFort Lauderdale, FL 33309

Property Details for 890 50Th St

Year built

1977

Lot size

0.69 AC

Property size (Sq ft)

1,057 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 1,057 square foot Shell gas station in Fort Lauderdale, Florida, boasting a 6.15% cap rate and a substantial net operating income (NOI) of $285,471. The property, situated on a 0.69-acre lot at 890 NW 50th St, 33309, enjoys a prime location at the signalized intersection of Commercial Boulevard and Powerline Road, benefiting from high daily traffic volume exceeding 104,000 vehicles. Its proximity to Interstate 95 (277,000 vehicles daily) and Fort Lauderdale Executive Airport further enhances its strategic value. Built in 1977 and extensively renovated in 2021, the property is under a single-tenant, absolute NNN lease with Shell, commencing November 22, 2019, and expiring November 21, 2040. The lease includes two 10-year renewal options and features 2% annual rent bumps. The tenant, Boca Gas, is backed by strong guarantees. The surrounding area is densely populated (430,000 within a five-mile radius) with a high average household income of $98,494. Nearby attractions include Keiser University and Chase Stadium. This property offers a compelling combination of strong tenant, long-term lease, and excellent location, making it an ideal addition to any investment portfolio. The asking price is $4,641,805. Bonus depreciation may be applicable

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1881

Longitude

-80.1546

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