835 Concordia Ave Clewiston, FL 33440

Property Details for 835 Concordia Ave

Year built

1973

Property size

91,331 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a stabilized, 101-unit multifamily portfolio in Clewiston, Florida. Comprising seven buildings totaling 91,331 square feet, this Class C property boasts 100% occupancy and a strong NOI of $833,325, representing a 7.78% cap rate. A pro-forma NOI of $1,119,525 projects a 10.41% cap rate, highlighting significant upside potential. The portfolio includes a mix of apartment units and single-family homes, ranging from one to four bedrooms, catering to a diverse tenant base. Built in 1973 and extensively renovated in 2019, the property is ideally situated in Hendry County, Florida, with addresses spanning 835 Concordia Ave, 100 W Aztec Ave, 110 E Aztec Ave, 330 E Trinidad Ave, 329 E Alverdez Ave, 738 S Bond St, and 433 E Trinidad Ave, all within zip code 33440. The asking price is $10,750,000, or $106,435 per unit. Clewiston's robust agricultural and industrial sectors, coupled with ongoing infrastructure improvements at Airglades Airport, including a $700 million expansion of its international cargo terminal (secured financing and approvals as of Q2 2023), promise continued growth and strong rental demand. This portfolio offers a compelling combination of immediate cash flow and long-term appreciation potential in a rapidly developing market. The property's location provides convenient access to major Florida cities, offering a unique blend of rural tranquility and urban accessibility. This is a rare opportunity to acquire a well-maintained, high-performing multifamily portfolio in a thriving South Florida market.