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Mixed-Use

3100-3104 NE 9th Street

3100-3104 NE 9th St, Fort Lauderdale, FL 33304

Listing Price: $5,412,000

Cap Rate
2.32%
Number of Units
9
Occupancy
100.0%
Price/Unit
$601,333
Price/Gross SF
$653.54
Gross SF
8,281

Investment Overview

Marcus & Millichap is pleased to present 3100 & 3104 NE 9th Street: two mixed-use buildings totaling 8,281 square feet situated on a 13,168 square foot lot in Fort Lauderdale, FL. The offering is comprised of ground-floor retail and three second-story apartment units in each building. Throughout the years, the properties have experienced limited to no vacancy and are currently 100% occupied. 3100 & 3104 NE 9th Street are located just off highly traveled East Sunrise Boulevard, and half a block from A1A and Fort Lauderdale Beach. Additionally, the buildings are the only property in the immediate area to offer on-site parking. The 3100 building totals to 4,921 square feet with one ground floor retail suite that is occupied by a long-term tenant, Smiley Food Deli, and three second-story one-bedroom/one-bathroom apartments all with balconies. The 3104 building totals to 3,360 square feet with two ground floor retail tenants, Railroad Laundry and Sea Turtle Oversite Protection, and three second-story studio apartments. The assets are positioned as an exceptional value-add opportunity with considerably below-market rents. Furthermore, the apartments are all on month-to-month leases, presenting the opportunity to renovate and re-lease or re-purpose as short-term rentals. 3100 & 3104 NE 9th Street are in the heart of Fort Lauderdale just minutes from Fort Lauderdale Beach, The Galleria Mall, Bonnet House Museum & Gardens, Downtown Fort Lauderdale, and Las Olas. The properties offer ocean views and sit among numerous hotels, apartments, restaurants, bars, and shops attracting local and tourist traffic. The offering presents investors or developers with the opportunity to acquire an exceptional site in a high barrier to entry market in Fort Lauderdale beach.

Investment Highlights

  • Unique Opportunity To Acquire Two Mixed-Use Buildings on Fort Lauderdale Beach
  • Below Market Rents and MTM Leases Allowing For Considerable Upside
  • On-Site Parking
  • Located Less Than A Block from Fort Lauderdale Beach, and A1A
  • Population of Over 210,131 Residents Within a Five Mile Radius

Exclusively Listed By

Financing By

Listing Price: $5,412,000

Cap Rate
2.32%
Number of Units
9
Occupancy
100.0%
Price/Unit
$601,333
Price/Gross SF
$653.54
Gross SF
8,281

Investment Highlights

  • Unique Opportunity To Acquire Two Mixed-Use Buildings on Fort Lauderdale Beach
  • Below Market Rents and MTM Leases Allowing For Considerable Upside
  • On-Site Parking
  • Located Less Than A Block from Fort Lauderdale Beach, and A1A
  • Population of Over 210,131 Residents Within a Five Mile Radius

Investment Overview

Marcus & Millichap is pleased to present 3100 & 3104 NE 9th Street: two mixed-use buildings totaling 8,281 square feet situated on a 13,168 square foot lot in Fort Lauderdale, FL. The offering is comprised of ground-floor retail and three second-story apartment units in each building. Throughout the years, the properties have experienced limited to no vacancy and are currently 100% occupied. 3100 & 3104 NE 9th Street are located just off highly traveled East Sunrise Boulevard, and half a block from A1A and Fort Lauderdale Beach. Additionally, the buildings are the only property in the immediate area to offer on-site parking. The 3100 building totals to 4,921 square feet with one ground floor retail suite that is occupied by a long-term tenant, Smiley Food Deli, and three second-story one-bedroom/one-bathroom apartments all with balconies. The 3104 building totals to 3,360 square feet with two ground floor retail tenants, Railroad Laundry and Sea Turtle Oversite Protection, and three second-story studio apartments. The assets are positioned as an exceptional value-add opportunity with considerably below-market rents. Furthermore, the apartments are all on month-to-month leases, presenting the opportunity to renovate and re-lease or re-purpose as short-term rentals. 3100 & 3104 NE 9th Street are in the heart of Fort Lauderdale just minutes from Fort Lauderdale Beach, The Galleria Mall, Bonnet House Museum & Gardens, Downtown Fort Lauderdale, and Las Olas. The properties offer ocean views and sit among numerous hotels, apartments, restaurants, bars, and shops attracting local and tourist traffic. The offering presents investors or developers with the opportunity to acquire an exceptional site in a high barrier to entry market in Fort Lauderdale beach.

Exclusively Listed By

Financing By

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