Self-Storage/Micro-Bay Industrial - Land FOR SALE


Oakland Park, FL
$1,400,000 USD
954-815-5195
, Oakland Park, FL for Sale
$1,400,000 USD
FOR SALE
1/8
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Self-Storage/Micro-Bay Industrial - Land
Oakland Park, FL


HIGHLIGHTS

  • Unit Count: 20 Units
  • Vacancies: 3 Units (300 SF each)
  • Number of Current Tenants: 10
  • Folio #: 494223055510 & 494223055500

OVERVIEW

537 - 549 NE 34 STREET is a self-storage/micro-bay industrial property featuring Twenty 300 SF units and two common area restrooms located on the north-end of the property. Most units are leased by local businesses, tradesmen, or used for self-storage. Bay’s 11-13 totaling 600 SF leased for $30 PSF (modified gross). Bay 19 (300 SF) and Bay 20 (300 SF) leased for $31.65 PSF and $31.95 PSF respectively. These deals were in the Top range of Comparable Lease Rates for small self-storage/micro-bay industrial properties within Oakland Park. With 4,267 SF of the 5,467 SF building remaining under market rate, the property has proven upside to slowly re-tenant and bring rents up to $29-32 PSF. The seller is also open to market-rate offers for the adjacent raw land, 551 NE 34 ST (Folio 494223055500), which is currently zoned residential (R-2). A preliminary review by a local land-use attorney suggests promising potential for a change of use (to I-1).

ASK ABOUT THIS PROPERTY

Josh RosaApex Capital Realty LLCMore Info
954-815-5195

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Josh RosaApex Capital Realty LLCMore Info
954-815-5195

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