888 3Rd AveFort Lauderdale, FL 33316

Property Details for 888 3Rd Ave

Year built

1985

Construction

CONCRETE

Property size (Sq ft)

2,290 SF

Zone code

RAC-CC

Property type

Office buildings

APN

50-42-10-AB-0020

APU

504210AB0020

Description

This exceptional 3,220 square foot penthouse office condo at 888 SE 3rd Avenue in Fort Lauderdale, Florida, presents a unique investment opportunity. Located in the desirable 33316 zip code, this tastefully renovated space offers a seamless blend of functionality and convenience. The unit boasts a welcoming double-door entry leading to a professionally designed layout ideal for various business needs. Ten private offices provide ample space for individual work or team collaboration, complemented by a large main live/work area perfect for open-plan operations or client meetings. A well-equipped kitchenette and employee lounge add to the comfort and convenience of the space, while abundant storage ensures efficient organization. Ample free parking is a significant advantage, providing easy access for both staff and clients. The property is priced at $1,300,000. Please note that, according to the Homeowners Association regulations, medical practices are not permitted in this building. This prime location in Fort Lauderdale offers excellent accessibility and visibility, making it an attractive option for a variety of businesses seeking a sophisticated and functional workspace. The lot size is not specified.

• CAP approach

  CAP return

  Valuation

  6%

  $819,291

  6.5%

  $756,269

  7%

  $702,249

• Comparable approach

  Method

  Valuation

  Relative Method

  $982,135

  Geo Method

  $982,135

• Alternative Use

  Use

  Valuation

  Residential

  $937,773

  Hospitality

  $858,995

  Educational

  $714,674

  Medical

  $739,253

  Retail

  $1,111,715

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1116

Longitude

-80.1393

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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