2099 S Park Rd Golden Isles, FL 33009

Property Details for 2099 S Park Rd

Year built

1964

Construction

CONCRETE

Lot size

0.65 lot acres

Property size

16,900 SF

Zone code

M-1

Property type

Manufacturing properties

APN

51-42-20-03-0040

APU

514220030040

Description

This ±17,000-square-foot industrial warehouse, situated on 0.65 acres in Pembroke Park, Florida, presents a compelling investment opportunity. Located at 2099 S Park Road, this single-tenant property boasts prime accessibility with easy Interstate 95 access. Currently leased at a below-market rate to Evolution Distro, the lease expires August 31, 2025, offering significant upside potential for investors. The property features four loading docks (three dock-high, one grade-level), 16,900 square feet of net rentable space, and approximately 7,500 square feet of industrial outdoor storage (IOS). The building includes recently renovated first and second-floor offices, completed in 2023, and a newly installed 5-ton air conditioning system. With 18-foot ceiling heights, this warehouse is well-suited for a variety of industrial uses. The current NOI is $248,434, with a pro-forma NOI of $304,200, reflecting a pro-forma cap rate of 5.81%. The asking price is $5,239,000, representing a 4.74% cap rate based on current NOI. The property's strategic location and potential for rent increases make it an attractive option for both investors seeking strong returns and owner-users requiring significant space. Built in 1964, this property offers a blend of established infrastructure and significant upside potential. The property is conveniently located south of West Pembroke Road, north of Hallandale Beach Boulevard, and west of I-95.

Location Insight

City

Hallandale Beach

County

Broward

State

Florida

Longitude

-80.1706

Latitude

25.9924

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments