3114-3120 E Sunrise Blvd
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3114-3120 E Sunrise Blvd
7,800 SF 100% Leased Retail Building Fort Lauderdale, FL 33304 £3,161,439 (£405/SF) 6.46% Net Initial Yield
Executive Summary
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
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
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
7,800 SF
Building Class
B
Year Built
1961
Price
£3,161,439
Price Per SF
£405
Net Initial Yield
6.46%
NOI
£204,229
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
2.00
Lot Size
0.09 AC
Zoning
S-L-A
Frontage
Amenities
- Pylon Sign
Bike Score®
Very Bikeable (72)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £1,459,591 | |
| Land Assessment | £495,674 | Total Assessment | £1,955,265 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£495,674
Improvements Assessment
£1,459,591
Total Assessment
£1,955,265
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3114-3120 E Sunrise Blvd
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