3100 6Th AveFort Lauderdale, FL 33316

Property Details for 3100 6Th Ave

Year built

1972

Construction

CONCRETE

Lot size

2.07 AC

Property size (Sq ft)

8,424 SF

Zone code

B-3

Property type

Automotive properties

APN

50-42-22-07-0640

APU

504222070640

Description

This exceptional 8,424 square foot office building in Fort Lauderdale, Florida presents a compelling investment opportunity. Located at 3100 SE 6th Avenue, this single-story, 1972-built structure sits on a 106,235 square foot lot (APN: 5042 22 07 0640 & 5042 23 00 0240) and is zoned B-3, allowing for diverse commercial uses. Currently 100% occupied under a triple-net (NNN) lease with a single tenant, the lease features a three-year term remaining, followed by two five-year options. The annual rent escalates by 3% or CPI, whichever is greater. The property boasts a price per square foot of $1,412.63. The lease includes a landlord's 24-month termination clause. This prime location offers exceptional visibility and accessibility, with proximity to Fort Lauderdale-Hollywood International Airport and Port Everglades. The property's strategic location near numerous vehicle facilities further enhances its appeal. The existing structure provides immediate income potential while the expansive lot size presents significant redevelopment possibilities, including potential for hotel development up to 150 feet in height. This offering represents a rare chance to acquire a high-return investment in a rapidly growing area. The current lease's anniversary date is May, with a recent rent increase of 3.5%. This property is an ideal choice for investors seeking strong cash flow and long-term appreciation potential.

• CAP approach

  CAP return

  Valuation

  6%

  $4,430,354

  6.5%

  $4,089,557

  7%

  $3,797,446

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,104,471

  Geo Method

  $9,104,471

• Alternative Use

  Use

  Valuation

  Residential

  $3,449,694

  Hospitality

  $3,159,902

  Educational

  $2,629,001

  Medical

  $2,719,416

  Retail

  $4,089,557

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.0859

Longitude

-80.1368

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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