4801 Federal HwyFort Lauderdale, FL 33308

Property Details for 4801 Federal Hwy

Year built

1962

Construction

CONCRETE

Lot size

0.58 AC

Property size (Sq ft)

3,297 SF

Zone code

B-1

Property type

Office buildings

APN

49-42-13-20-0020

APU

494213200020

Description

This exceptional investment opportunity presents a 56,243 square foot medical office complex situated on a 2.02-acre lot in Fort Lauderdale, Florida. The property, known as MedPlex, comprises two buildings constructed in 1962 and benefits from a B-1 zoning designation. Located on the campus of Holy Cross Hospital, a top-rated regional hospital, the complex enjoys excellent visibility and accessibility on Federal Highway, with multiple points of access ensuring easy ingress and egress. The property boasts a strong tenant base, many of whom have occupied the space for over a decade, providing a stable and cash-flowing asset. The asking price is $12,350,000. This established medical office building presents significant upside potential through increased rents, a transition from a modified gross to a net-net-net lease structure, and a recalculation of square footage from net leasable to gross rentable space, potentially yielding over a 15% increase in gross leasable area. The property's strategic location, coupled with its strong occupancy and potential for increased revenue, makes it an attractive investment for discerning buyers. The property's APN numbers are 494213200020, 494213200010, and 494213010410. The Broward County location offers a thriving medical market and strong potential for future growth.

• CAP approach

  CAP return

  Valuation

  6%

  $980,209

  6.5%

  $904,808

  7%

  $840,179

• Comparable approach

  Method

  Valuation

  Relative Method

  $974,000

  Geo Method

  $974,000

• Alternative Use

  Use

  Valuation

  Residential

  $1,121,962

  Hospitality

  $1,027,712

  Educational

  $855,044

  Medical

  $884,450

  Retail

  $1,330,068

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1869

Longitude

-80.1171

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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