Office Warehouse

Prospect Park Industrial Center

3590 NW 54th St, Fort Lauderdale, FL 33309

Listing Price: $8,500,000

Cap Rate
6.50%
Gross SF
64,687
Price/Gross SF
$131.40
Lot Size
4.40 acres
Year Built
1989
Rentable SF
64,687

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale Prospect Park Industrial Center (the "Property"), comprised of two, multi-tenant industrial buildings with 22 loading bays. The buildings feature grade-level and dock-high loading doors, which has allowed current ownership to attract a diverse tenant mix that includes strong, long-term tenants with staggered lease expirations and a weighted average remaining lease term of over two years, providing steady cash flow for a new owner. Prospect Park Industrial Center is situated on approximately four-and-a-half acres of land and offers approximately 64,687 square feet of rentable space. The buildings were constructed between 1989 and 1990 and offer an abundance of parking with 192 parking spaces for a parking ratio of approximately three spaces per 1,000 square feet. The Property features 18 to 20-foot clear ceiling heights and has 22 loading bays - 17 are grade-level with 5 levelers, and the other five are dock-high, with three of those being recessed - offering ample capacity for bothoperational usage and storage space as a premier asset in the submarket.

Investment Highlights

  • SECURE, INSTITUTIONALLY-MAINTAINED, INDUSTRIAL PORTFOLIO WITH CURB APPEAL
  • SECURE, INSTITUTIONALLY-MAINTAINED, INDUSTRIAL PORTFOLIO WITH CURB APPEAL
  • WEIGHTED AVERAGE REMAINING LEASE TERM OF OVER TWO YEARS

Exclusively Listed By

Office Warehouse

Prospect Park Industrial Center

Listing Price: $8,500,000

Cap Rate
6.50%
Gross SF
64,687
Price/Gross SF
$131.40
Lot Size
4.40 acres
Year Built
1989
Rentable SF
64,687

Investment Highlights

  • SECURE, INSTITUTIONALLY-MAINTAINED, INDUSTRIAL PORTFOLIO WITH CURB APPEAL
  • SECURE, INSTITUTIONALLY-MAINTAINED, INDUSTRIAL PORTFOLIO WITH CURB APPEAL
  • WEIGHTED AVERAGE REMAINING LEASE TERM OF OVER TWO YEARS

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale Prospect Park Industrial Center (the "Property"), comprised of two, multi-tenant industrial buildings with 22 loading bays. The buildings feature grade-level and dock-high loading doors, which has allowed current ownership to attract a diverse tenant mix that includes strong, long-term tenants with staggered lease expirations and a weighted average remaining lease term of over two years, providing steady cash flow for a new owner. Prospect Park Industrial Center is situated on approximately four-and-a-half acres of land and offers approximately 64,687 square feet of rentable space. The buildings were constructed between 1989 and 1990 and offer an abundance of parking with 192 parking spaces for a parking ratio of approximately three spaces per 1,000 square feet. The Property features 18 to 20-foot clear ceiling heights and has 22 loading bays - 17 are grade-level with 5 levelers, and the other five are dock-high, with three of those being recessed - offering ample capacity for bothoperational usage and storage space as a premier asset in the submarket.

Exclusively Listed By

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