705 8Th AveFort Lauderdale, FL 33311

Property Details for 705 8Th Ave

Year built

1956

Construction

CONCRETE

Lot size

0.31 AC

Property size (Sq ft)

9,500 SF

Zone code

I

Property type

Industrial properties

Property subtype

Other warehouses

APN

49-42-34-06-8330

APU

494234068330

Description

This exceptional investment opportunity presents two adjacent warehouses totaling 14,500 square feet situated on a combined 22,031 square foot lot in Fort Lauderdale's thriving Progresso neighborhood. Located at 705 and 709 NW 8th Ave, these properties benefit from a central location, minutes from Las Olas, Downtown Fort Lauderdale, and Flagler Village. The buildings, zoned I, comprise two structures: a 9,500 square foot warehouse (705 NW 8th Ave) divided into five bays and currently occupied by three tenants, and a 5,000 square foot warehouse (709 NW 8th Ave) featuring an open layout with two dock-high doors and a single tenant. Both buildings boast 12-foot ceilings and a total of eight dock-high doors. Currently operating under a gross lease structure with four tenants, the property offers a strong net operating income (NOI) of $211,300, resulting in a 5.09% cap rate. The existing leases have less than two years remaining, providing significant flexibility for a new owner to reposition the asset to maximize returns. This presents a compelling opportunity for investors, owner-users, or those seeking a blend of occupancy and rental income in a high-demand Fort Lauderdale market. The asking price is $4,150,000.

• Alternative Use

  Use

  Valuation

  Residential

  $3,232,831

  Hospitality

  $2,961,256

  Educational

  $2,463,730

  Medical

  $2,548,462

  Retail

  $3,832,469

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1314

Longitude

-80.153

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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