715 1St St Dania Beach, FL 33004
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Profitable Restaurant, 5.5% Cap Rate
Property size:
2,344 SFProperty Features for 715 1St St
General Information
- Property type
- Restaurants
- Square Feet
- 2,344 SF
- Class
- C
Building Details
- Year Built/Renovated
- 1955/2020
- Buildings
- 1
- Stories
- 1
- Units
- 1
Listing Agent: Michael Cases
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Prime Dania Beach location, this 2,344 square foot restaurant building presents a compelling investment opportunity. Currently leased to a tenant under a Net Net (NN) lease, the property boasts a 5.50% cap rate with a pro-forma cap rate of 5.69%, generating a current NOI of $29,664 and a pro-forma NOI of $34,000. The lease commenced January 31, 2021, and has a remaining term of approximately 0.2 years, with a five-year lease option extending to 2030. Built in 1955 and renovated in 2020, the single-story building features impact windows, a grease trap, a hood system, a fully equipped commercial kitchen, and on-site parking. The tenant pays all real estate taxes and property insurance, with annual rent currently at $30,500 and a 3% annual increase built into the lease. The property is zoned for Regional Activity Center (RAC) and Mixed Use (NBHD-MU), offering flexibility for future use. This is a 100% occupied, single-tenant property offering a strong return on investment. The asking price is $598,000, translating to $255.12 per square foot. This exceptional opportunity is ideal for investors seeking a stable, income-producing asset in a thriving South Florida market.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Essence Caterers
Take-out & Catering
Location Insight
- Map
- Local Demand
- City
- Dania Beach
- County
- Broward
- State
- Florida
- Longitude
- -80.14863762
- Latitude
- 26.0539988
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FAQs
What type of property is this?
Restaurant - Profitable Restaurant, 5.5% Cap Rate
Where is this restaurant located?
The property is located at 715 1St St Dania Beach, FL.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: $598,000 asking price for this Dania Beach, FL retail property.; 2,344 square foot restaurant building on a 0.2-year remaining lease (with a 5-year option).; Currently 100% occupied with a Net Lease (NN) tenant; $29,664 current NOI, pro-forma NOI of $34,000.
