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Warehouse

Oakland Park Industrial

1800 NW 29th St, Oakland Park, FL 33311

Listing Price: Request For Offer

Gross SF
30,000
Lot Size
1.00 acres
Year Built
1974
Rentable SF
30,000

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to offer the rare opportunity to acquire Oakland Park Industrial (the "Property"), a light-industrial property on a one-acre parcel, centrally located within the Central Broward Industrial submarket of Broward County, Florida. Constructed in 1974, the building consists of approximately 30,000 rentable square feet in 20 bays of 1,500 square feet. There is also about 100 square feet of office in each bay, and some of them have been subdivided into two units. The Property is currently over 97-percent occupied with a diverse mix of tenants on month-to-month leases, providing immediate value-add potential through rent increases. Oakland Park Industrial is located just west of Interstate 95, about one-block south of Oakland Park Boulevard, with quick and easy access to Interstate 95 and the Florida Turnpike. The Property is located within a cluster of industrial product, with nearby restaurants, and adjacent to the United States Post Office facility. There has been a significant rise in demand for Broward County industrial space, with positive absorption and decreasing vacancies creating strong market conditions to push the average asking rents even higher. The Property offers a stabilized cash flow for the new owner with the opportunity to immediately raise rents.

Investment Highlights

  • PREMIER SMALL-BAY ASSET IN THE SUBMARKET, CREATING ADDITIONAL TENANT DEMAND
  • FIRST TIME TO MARKET IN NEARLY TWO DECADES
  • SHORT-TERM LEASES ALLOW FOR CONTINUOUS AND IMMEDIATE UPSIDE IN RENTS
  • DIVERSIFIED RENT ROLL WITH A MIX OF TENANTS ACROSS MANY INDUSTRIES, MINIMIZING INDUSTRY SPECIFIC RISK
  • CENTRAL BROWARD LOCATION WITH EXCEPTIONAL ACCESS TO THE FLORIDA TURNPIKE AND INTERSTATE 95
  • POPULATION OF NEARLY 170,000 WITHIN A THREE-MILE RADIUS

Exclusively Listed By

Financing By

Warehouse

Oakland Park Industrial

Listing Price: Request For Offer

Gross SF
30,000
Lot Size
1.00 acres
Year Built
1974
Rentable SF
30,000

Investment Highlights

  • PREMIER SMALL-BAY ASSET IN THE SUBMARKET, CREATING ADDITIONAL TENANT DEMAND
  • FIRST TIME TO MARKET IN NEARLY TWO DECADES
  • SHORT-TERM LEASES ALLOW FOR CONTINUOUS AND IMMEDIATE UPSIDE IN RENTS
  • DIVERSIFIED RENT ROLL WITH A MIX OF TENANTS ACROSS MANY INDUSTRIES, MINIMIZING INDUSTRY SPECIFIC RISK
  • CENTRAL BROWARD LOCATION WITH EXCEPTIONAL ACCESS TO THE FLORIDA TURNPIKE AND INTERSTATE 95
  • POPULATION OF NEARLY 170,000 WITHIN A THREE-MILE RADIUS

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to offer the rare opportunity to acquire Oakland Park Industrial (the "Property"), a light-industrial property on a one-acre parcel, centrally located within the Central Broward Industrial submarket of Broward County, Florida. Constructed in 1974, the building consists of approximately 30,000 rentable square feet in 20 bays of 1,500 square feet. There is also about 100 square feet of office in each bay, and some of them have been subdivided into two units. The Property is currently over 97-percent occupied with a diverse mix of tenants on month-to-month leases, providing immediate value-add potential through rent increases. Oakland Park Industrial is located just west of Interstate 95, about one-block south of Oakland Park Boulevard, with quick and easy access to Interstate 95 and the Florida Turnpike. The Property is located within a cluster of industrial product, with nearby restaurants, and adjacent to the United States Post Office facility. There has been a significant rise in demand for Broward County industrial space, with positive absorption and decreasing vacancies creating strong market conditions to push the average asking rents even higher. The Property offers a stabilized cash flow for the new owner with the opportunity to immediately raise rents.

Exclusively Listed By

Financing By

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