18 1St AveFort Lauderdale, FL 33301

Property Details for 18 1St Ave

Year built

1954

Construction

CONCRETE

Lot size

0.17 AC

Property size (Sq ft)

6,380 SF

Zone code

RAC-CC

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

50-42-10-01-1920

APU

504210011920

Description

This exceptional free-standing retail building, Tropical Press, offers 6,380 square feet in the heart of downtown Fort Lauderdale, directly across from the Brightline Station. The property, built in 1955 and renovated in 2021, features a single-story, 6,380-square-foot building with one tenant currently occupying 50% of the space, leaving a significant opportunity for lease-up or owner-user occupancy. The asking price is $3,300,000, representing a 5.00% cap rate and a pro-forma cap rate of 8.06%. The property's pro-forma NOI is $265,934. Located near W Broward Boulevard, the property benefits from high daily traffic counts (nearly 50,000 vehicles). Its proximity to the Brightline Station and a planned 300+ unit apartment complex further enhances its value. The current lease is a net lease with a remaining term of 2.9 years, expiring October 31, 2027. The property is zoned RAC-CC and is offered fee simple. This presents a compelling value-add investment or owner-user opportunity in a rapidly developing area with strong market fundamentals, including high rental growth and low vacancy rates. The property's location ensures continued appreciation as the surrounding area continues its rapid development.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.123

Longitude

-80.1443

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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