715 1St St Dania Beach, FL 33004

Property Details for 715 1St St

Year built

1955

Construction

CONCRETE

Lot size

0.13 lot acres

Property size

2,344 SF

Zone code

NBHD-MU

Property type

Turn key restaurants

APN

50-42-34-23-0010

APU

504234230010

Description

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.

Location Insight

City

Dania Beach

County

Broward

State

Florida

Longitude

-80.1486

Latitude

26.0538

CBSA code

33100

CBSA name

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

Property Tax & Assessments