Fort Lauderdale Land Redevelopment
1225 SE 2nd Avenue, Fort Lauderdale, FL 33316
Call to check price and availability
Downtown Fort Lauderdale land with redevelopment or office building potential.
Type:Business for Sale, Office
Property size:
5,363 SFLot size:
0.50 AcresPrice / SF:
$400/SF- Added:
- Jun 19, 2024
- Days on Market:
- 704
- Last Refresh:
- Mar 19 at 11:34 pm
Property Features for 1225 SE 2nd Avenue
General Information
- Standard status
- Active
- Size
- 5,363 SF
- Lot size
- 0.50 Acres
- Property subtype
- Business for Sale, Office
Building Details
- Year Built
- 1947
Listing agent Danielle Bastarache License #463471
Listing office Coldwell Banker Commercial Realty Fort Lauderdale (954) 562-7198
Listing date Jun 19, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial Realty Fort Lauderdale
HighLights
- Prime Downtown Fort Lauderdale location with redevelopment potential.
- Significant land value at $98 PSF.
- Two existing office buildings totaling 5,130 SF of leasable space, offered at $419 PSF.
- Proximity to the New Federal Courthouse.
- Convenient access to major transportation.
- Buildings feature fiber optic internet, attractive exteriors, and lush landscaping; sold furnished.
Overview
This property presents an incredible value in downtown Fort Lauderdale, offering land at $98 per square foot. The site includes two office buildings situated on three lots, totaling 21,875 square feet, zoned ROC. The buildings offer redevelopment potential or continued use as office space at $419 per square foot. One building, located at 1225 SE 2nd Ave, occupies a 6,250 square foot lot and features 2,195 square feet of leasable space, including 6 offices, a conference room, reception area, 2 bathrooms, a break room, and a common meeting area. It is being sold furnished. The second building, located at 115 SE 3rd St on a corner of two lots, provides 15,625 square feet with 2,935 square feet of leasable space, featuring 4 large rooms/offices and restrooms. Both buildings are well-maintained, featuring fiber optic internet, attractive exteriors, and lush landscaping. Currently, there are 12 parking spaces available. The property is conveniently located half a mile from Broward General and 1 mile from the Broward County Courthouse. It is also a short distance from the new Federal Courthouse (expected in 2026), Downtown, Fort Lauderdale-Hollywood International Airport, Port Everglades, I-95, I-595, the Turnpike, and beaches.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.71M
NOI $154,068 @ 9.00% cap · cautious / downside scenario
Moderate
$2.20M
NOI $154,068 @ 7.00% cap · market / base-case scenario
Aggressive
$3.08M
NOI $154,068 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $244.6k | $45.60 |
| − Vacancy | −$39.1k | −$7.30 |
| EGI | $205.4k | $38.30 |
| − OpEx | −$51.4k | −$9.58 |
| NOI | $154.1k | $28.73 |
5,363 SF · lease $45.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$2.20M
$1.93M – $2.57M
NOI $154,068 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.60M
$3.15M – $4.20M
NOI $252,276 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Omega's Lawn Services
Landscaping
Florida Consortium of Public ...
School Administration Office
Charter School
High School
Location Insight
- Map
- Local Demand
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.1427555
- Latitude
- 26.1413175
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Downtown Fort Lauderdale land with redevelopment or office building potential.
Where is this office building located?
The property is located at 1225 SE 2nd Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,149,000.
What are key features of this property?
This property features: Prime Downtown Fort Lauderdale location with redevelopment potential.; Significant land value at $98 PSF.; Two existing office buildings totaling 5,130 SF of leasable space, offered at $419 PSF.
