3114-3120 E Sunrise Blvd - Storefront Retail/Residential FOR SALE


Fort Lauderdale, FL 33304
$4,000,000 USD
305-710-7722
3114-3120 E Sunrise Blvd, Fort Lauderdale, FL for Sale
$4,000,000 USD
Storefront Retail/Residential - FOR SALE
1/8
null | 5.7% Cap Rate

3114-3120 E Sunrise Blvd
Fort Lauderdale, FL 33304


OVERVIEW

Marcus & Millichap is pleased to exclusively offer the sale of 3114-20 E Sunrise Blvd, Fort Lauderdale FL 33034 The property consists of a 7,883 square ft mixed-use building on a 4,041 square ft (0.1-acre) lot. The property is on an excellent corner location, steps from Ft. Lauderdale beach with excellent frontage, visibility and accessibility. Average daily traffic counts are 40,000 vehicles on E Sunrise Blvd. The property is comprised of 3 commercial units on the ground floor and 4 residential units on the second floor. The property is 100% occupied offering strong and stable cash flow for potential investors with significant upside potential through multiple leases on below market rents. All commercial leases feature 3-5% annual rent increases providing strong rent growth for a potential buyer. The area has a dense population with over 210,000 residents living within a 5-mile radius. The average household income is over $160K within 1-mile radius. The zoning of the property is SLA – Sunrise Lane District, allowing for a wide-range of commercial uses as well as redevelopment potential. The property is in the heart of Fort Lauderdale just minutes from Fort Lauderdale Beach, The Galleria Mall, Bonnet House Museum & Gardens, Downtown Fort Lauderdale, Las Olas and Birch State Park

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$513 USD /SF

CAP RATE

5.7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,900 SF

ZONING

S-L-A

APN/PARCEL ID

50-42-01-28-0220,50-42-01-28-0230,50-42-01-28-0240

ASK ABOUT THIS PROPERTY

Ryan ShawMarcus & MillichapMore Info
305-710-7722

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Ryan ShawMarcus & MillichapMore Info
305-710-7722

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