7421-7497 4Th StPlantation, FL 33317

Property Details for 7421-7497 4Th St

Year built

1973

Construction

CONCRETE

Lot size

2.10 AC

Property size (Sq ft)

28,804 SF

Zone code

B-4P

Property type

Office buildings

APN

50-41-03-37-0010

APU

504103370010

Description

This single-story, 26,500 square foot office building, located at 7421-7497 NW 4th St, Plantation, FL 33317, presents a compelling value-add investment opportunity. Built in 1975 and renovated in 2018, the property boasts a 96% occupancy rate with 23 tenants primarily in medical, legal, and financial services. The building features ample parking and a diverse, stable rent roll with staggered lease expirations, ensuring consistent cash flow. Currently priced at $5,915,000 ($223.21/sq ft), this represents a significant discount compared to replacement cost. The property sits on a 2.01-acre lot and is zoned B-4P, Plantation. The building's strong net operating income (NOI) of $414,000 yields an attractive 7.00% capitalization rate. The property is a Class C building and is offered as a cash-flowing investment. A new roof was installed in May 2018. This is an excellent opportunity for investors seeking a stable, high-return investment in a desirable location. The property is owned by an LLC.

• CAP approach

  CAP return

  Valuation

  6%

  $8,563,526

  6.5%

  $7,904,793

  7%

  $7,340,165

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,509,278

  Geo Method

  $8,509,278

• Alternative Use

  Use

  Valuation

  Residential

  $9,801,944

  Hospitality

  $8,978,528

  Educational

  $7,470,030

  Medical

  $7,726,936

  Retail

  $11,620,046

Location Insight

City

Plantation

County

Broward

State

Florida

Latitude

26.1272

Longitude

-80.2482

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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