3038 Federal HwyFort Lauderdale, FL 33306

Property Details for 3038 Federal Hwy

Year built

1958

Construction

CONCRETE

Lot size

0.03 AC

Property size (Sq ft)

2,425 SF

Zone code

B-1

Property type

Office buildings

APN

49-42-25-19-0160

APU

494225190160

Description

This exceptional 1,982 square foot Class A commercial space, located at 3038 N Federal Hwy #C in Fort Lauderdale, Florida (33306), presents a unique investment opportunity. Situated in the vibrant Time Square Shopping area, this single-tenant property boasts excellent visibility and high traffic exposure, exceeding 45,000 Annual Average Daily Traffic (AADT) on N Federal Hwy. The space features one office, two bathrooms, and a kitchenette, making it ideal for a variety of uses including retail, professional offices, medical offices, or showrooms. The property is zoned B-1 and includes three parking spaces. Built in 1960, this space is currently vacant and available for immediate occupancy. The rental rate is $25 per square foot, plus $9 per square foot in NNN expenses. For businesses requiring more space, an adjacent 2,150 square foot unit on the second floor, with a separate entrance, is also available from the same owner, renting for $17 per square foot, plus $6 per square foot in NNN expenses. This additional space offers similar versatility for office, medical, or retail uses. The total building size is 4,132 square feet. The property's APN is 494225190130.

• CAP approach

  CAP return

  Valuation

  6%

  $720,961

  6.5%

  $665,502

  7%

  $617,966

• Comparable approach

  Method

  Valuation

  Relative Method

  $716,394

  Geo Method

  $716,394

• Alternative Use

  Use

  Valuation

  Residential

  $825,223

  Hospitality

  $755,900

  Educational

  $628,900

  Medical

  $650,528

  Retail

  $978,288

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1663

Longitude

-80.116

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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