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928-934 NE 20th Ave

Fort Lauderdale, FL 33304

$2,300,000

Storefront Retail Residential For Sale  •  5,315 Sq Ft

Property Details

  • Property Type Storefront Retail Residential
  • Total Building Size 5,315 Sq Ft
  • Lot Size 0.16 ac
  • Building Class C
  • Year Built 1961
  • Cap Rate 6.45 %
  • Tenancy Multiple
  • Zoning B-1
41 Transit Score
90 Walk Score

Description

The property consists of 4, fully leased, retail spaces, all occupied by long-term tenants, a 2 slip, deep water marina, for up to to 72' Yachts, and a 2 bedroom, 2nd floor, apartment overlooking the wide Middle River waterway. The property has been recently renovated with new roof, plumbing, Impact windows in apartment, Interior flooring, etc...   The apartment is currently rented on an annual base and the owner is in final process of obtaining a vacation rental license. This represents tremendous upside in income potential. The property fronts the 300' wide Middle river, just South of Sunrise Blvd. with easy ocean access and no fixed bridges, located in the heart of Fort Lauderdale close to beach and Galleria mall, easy access to I-95. Excellent opportunity for  for boaters who enjoy the dockage and collect Income and free dockage.

Highlights

Diverse Income sources - Retail/Residential/Marina
Central location - Close to Beach, Shopping & Highways
Great upside income potential
Recent renovations - Roof, Plumbing, Wndows, A/C, etc...
Low maintenance
Waterfront/Marina - Deep water dockage for up to two 72' Yachts

Financial Summary (Actual)

Net Operating Income: $148,287 (2018)
Cap Rate: 6.45 %
Total Expenses: $47,918

Amenities

  • Air Conditioning
  • Waterfront

Public Transportation

Commuter RailDriveWalkDistance
Fort Lauderdale Commuter Rail (Tri-County Commuter) 13 min - 5.1 mi
Cypress Creek Commuter Rail (Tri-County Commuter) 14 min - 6.3 mi
AirportDriveWalkDistance
Fort Lauderdale–Hollywood International Airport 20 min - 10.0 mi
Miami International Airport 57 min - 35.1 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Jacob Collett 954-292-6481 Coldwell Banker Commercial NRT
Jacob Collett 954-292-6481 Coldwell Banker Commercial NRT