890 50Th St Fort Lauderdale, FL 33309
- Retail properties
- 1,057 SF
- 0.69 lot acres
Current Use by Public Records
- Shell / Convenience Store / Atm
- Cryptobase Bitcoin ATM / Atm
Property Details for 890 50Th St
- Year built
- 1977
- Lot size
- 0.69 lot acres
- Property size
- 1,057 SF
- Property type
- Retail properties
- Property subtype
- Gas stations
Description
This exceptional investment opportunity presents a 1,057 square foot Shell gas station in Fort Lauderdale, Florida, boasting a 6.15% cap rate and a substantial net operating income (NOI) of $285,471. The property, situated on a 0.69-acre lot at 890 NW 50th St, 33309, enjoys a prime location at the signalized intersection of Commercial Boulevard and Powerline Road, benefiting from high daily traffic volume exceeding 104,000 vehicles. Its proximity to Interstate 95 (277,000 vehicles daily) and Fort Lauderdale Executive Airport further enhances its strategic value. Built in 1977 and extensively renovated in 2021, the property is under a single-tenant, absolute NNN lease with Shell, commencing November 22, 2019, and expiring November 21, 2040. The lease includes two 10-year renewal options and features 2% annual rent bumps. The tenant, Boca Gas, is backed by strong guarantees. The surrounding area is densely populated (430,000 within a five-mile radius) with a high average household income of $98,494. Nearby attractions include Keiser University and Chase Stadium. This property offers a compelling combination of strong tenant, long-term lease, and excellent location, making it an ideal addition to any investment portfolio. The asking price is $4,641,805. Bonus depreciation may be applicable
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.1546
- Latitude
- 26.1881
