18 1st Ave Fort Lauderdale, FL 33301-1002
- Grocery and convenience stores
- 6,380 SF
- 0.17 lot acres
Current Use by Public Records
- One Stop Food Mart / Convenience Store
- Hanoun Inc / Grocery Store
- 24 Hr / Auto Wrecker
Property Details for 18 1st Ave
- Year built
- 1954
- Construction
- CONCRETE
- Lot size
- 0.17 lot acres
- Property size
- 6,380 SF
- Zone code
- RAC-CC
- Property type
- Grocery and convenience stores
- APN
- 50-42-10-01-1920
- APU
- 504210011920
Description
This exceptional free-standing retail building, Tropical Press, offers 6,380 square feet in the heart of downtown Fort Lauderdale, directly across from the Brightline Station. The property, built in 1955 and renovated in 2021, features a single-story, 6,380-square-foot building with one tenant currently occupying 50% of the space, leaving a significant opportunity for lease-up or owner-user occupancy. The asking price is $3,300,000, representing a 5.00% cap rate and a pro-forma cap rate of 8.06%. The property's pro-forma NOI is $265,934. Located near W Broward Boulevard, the property benefits from high daily traffic counts (nearly 50,000 vehicles). Its proximity to the Brightline Station and a planned 300+ unit apartment complex further enhances its value. The current lease is a net lease with a remaining term of 2.9 years, expiring October 31, 2027. The property is zoned RAC-CC and is offered fee simple. This presents a compelling value-add investment or owner-user opportunity in a rapidly developing area with strong market fundamentals, including high rental growth and low vacancy rates. The property's location ensures continued appreciation as the surrounding area continues its rapid development.
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
- -80.1443
- Latitude
- 26.123
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
