Bought with LoKation
$1,200,000
$1,250,000
4.0%For more information regarding the value of a property, please contact us for a free consultation.
2 Baths
3,270 SqFt
SOLD DATE : 12/21/2023
Key Details
Sold Price $1,200,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 3,270 sqft
Price per Sqft $366
Subdivision Breezyway Manor
MLS Listing ID RX-10885674
Sold Date 12/21/23
Year Built 1961
Annual Tax Amount $10,703
Tax Year 2022
Lot Size 8,712 Sqft
Property Description
Commercial Building containing two units on with excellent visibility on busy Davie Blvd. One unit contains 2406 square feet and is leased to a check cashing store that has been a tenant for many years. The lease is NNN and ends 12/31/2025 with one 5-year option to renew. Base rent increases 4% per year during the current term. The tenant also pays 74% of the estimated CAM, RE Taxes and Ins., for the property with the monthly rent. The other unit contains 864 square feet and is vacant. It can be rented out or used by owner. The property has room in the rear for a trailer or to use for storage. Freshly painted and roof recently sealed. Cap rate is 5.1% at asking price. With yearly increases in tenant's base rent and the ability to lease vacant unit, the cap rate could easily exceed 6%.
Location
State FL
County Broward
Area 3570
Zoning CB
Interior
Heating Central Individual
Cooling Central Individual
Flooring Carpet, Ceramic Tile
Fireplaces Type Smoke Alarm
Exterior
Utilities Available Electric, Public Sewer, Public Water
Roof Type Built-Up
Building
Story 100.00
Foundation CBS
Others
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
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10011 Pines Boulevard Suite #103, Pembroke Pines, FL, 33024, USA