3047-3049 N Federal Hwy - Medical FOR SALE


Fort Lauderdale, FL 33306
$2,250,000 USD
954-649-6605
3047-3049 N Federal Hwy, Fort Lauderdale, FL for Sale
$2,250,000 USD
Medical - FOR SALE
1/30
null | 4.58% Cap Rate

3047-3049 N Federal Hwy
Fort Lauderdale, FL 33306


HIGHLIGHTS

  • Prime investment opportunity to acquire a fully leased medical and office asset with value-add potential in a business-friendly South Florida climate.
  • Benefit from high visibility, heavy vehicle and foot traffic, and connectivity to nearby cities, international markets, health care, and retail.
  • Property features include professional décor, ample public parking, and prominent signage.
  • Strategically located near major thoroughfares, the airport, and less than half a mile from Coral Center and Times Square Plaza.

OVERVIEW

This highly visible asset sits at the signalized intersection of E Oakland Park Boulevard, which sees 35,387 vehicles daily, and Federal Highway, which sees 46,988 vehicles daily. The plethora of retailers within a half mile and the bus stop conveniently located in front of the property drive heavy foot traffic. Discover a lucrative investment opportunity to acquire 3047 N Federal Highway, a highly visible and fully occupied office asset offering upside through lease improvement. Under market lease for the second floor expires end of 2025. Big opportunity to increase rent. 40-year building inspection conducted and passed. The property, built in 1959 and renovated in 1978, features professional décor and ample public parking on three sides. A dentist leases the first floor, and a property management company leases the second floor. Located minutes from the beach and the Downtown Fort Lauderdale Financial District, 3047 N Federal Highway provides superb connectivity to neighboring cities, international markets, multiple health care options, and retail. Drivers benefit from quick access to US Highway 1, Route 1, and A1A and enjoy the convenient proximity to downtown Fort Lauderdale, Plantation, and Sunrise. Fort Lauderdale-Hollywood International Airport sits 12 miles from the asset, and locals will find five hospitals within a 10-mile radius of the property. Explore numerous retailers within walking distance, including Target, Publix, T.J. Maxx, Marshalls, Carter’s, and more. Nicknamed the “Venice of America” and nestled between West Palm Beach and Miami, Fort Lauderdale contains 165 miles of waterway along Florida’s southeastern coast. This vibrant city has a robust and diversified economy, with key sectors including tourism, marine industries, technology, health care, finance, real estate, avionics/aerospace, and more. Due to its economic versatility and remarkable connectivity, Fort Lauderdale boasts the fifth-highest median income in the state and a population of over 900,000 residents within a 10-mile radius. 3047 N Federal Highway provides an excellent investment opportunity for an astute investor wanting to capitalize on the business-friendly South Florida climate and acquire a well-maintained asset with value-add potential in a prime location.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$375 USD /SF

CAP RATE

4.58%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1959

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,183 SF

ZONING

B-1

APN/PARCEL ID

49-42-25-08-0240

ASK ABOUT THIS PROPERTY

Michael CamardelloRe/MAX ExperienceMore Info
954-649-6605

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Michael CamardelloRe/MAX ExperienceMore Info
954-649-6605

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.