1620-1630 12Th Ter Fort Lauderdale, FL 33305

Property Details for 1620-1630 12Th Ter

Year built

1953

Property size

10,680 SF

Property type

Industrial properties

Property subtype

Manufacturing properties

Description

This exceptional investment opportunity presents a 10,680 square foot, multi-tenant warehouse situated on an 11,736 square foot lot in Fort Lauderdale, Florida (33305). The property, boasting a liberal B-3 zoning designation, is ideally suited for an owner-user seeking to capitalize on its significant upside potential. Currently operating at 94% occupancy with five tenants, the building offers six units, each with its own meter, allowing for flexible use and rental income generation. The property features 13-foot ceilings, 10' x 10' overhead doors providing front-to-back access in all warehouse units, and a sizable upstairs space perfect for office build-out. Units 1620, 1622, and 1624 include small interior offices. A right-of-way alongside and behind the building provides additional parking flexibility. While there's no designated parking, each tenant can park one vehicle in front of their bay door. The building, constructed in 1953 and renovated in 1968, benefits from a new roof installed in 2017 (still under warranty) and a recently completed 10-year recertification. The current NOI is $56,587, with a pro-forma NOI of $131,881, reflecting the potential for increased rental income. The asking price is $1,950,000, representing a current cap rate of 2.90% and a pro-forma cap rate of 6.76%. The property's prime location near I-95 and Federal Highway offers unparalleled access to major transportation arteries, downtown Fort Lauderdale, and area beaches. This is a rare opportunity to acquire a well-located, adaptable industrial property with substantial growth potential. The APN is 4942 35 17 0180.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Longitude

-80.1312

Latitude

26.1483