Office

Citi Bank Building

Listing Price: $10,000,000

Cap Rate
1.58%
Gross SF
54,912
Rentable SF
54,912
Price/Gross SF
$182.11
Lot Size
3.27 acres
Year Built
1966

Investment Overview

Marcus & Millichap is proud to exclusively present 225-255 East Dania Beach Boulevard a two-story multi-tenant office building located in Dania Beach, Florida. This office building is situated on a 3.27-acre parcel (or 142,230 square feet) and offers approximately 54,912 square feet of rentable space. 225-255 East Dania Beach Boulevard is currently 73% occupied by a mix of professional and credit tenants including Citibank, complete with drive-through lanes, and the headquarters of the travel agency, Cruise.com. The current tenants are short-term or month to month leases at below-market rents, positioning substantial upside through leasing vacant suites, increasing rents, and implementing long-term leases. The property has direct frontage on East Dania Beach Boulevard, just off highly traveled South Federal Highway, and is easily accessed from I95 and I595. Additionally, the property offers multiple points of ingress and egress, as well as 200 parking spaces, to accommodate heavy traffic.

The subject property is in East Dania Beach Boulevards Mixed Used District, in the heart of Dania Beach's development boom positioning this property as an excellent redevelopment play. The liberal EDBB-MU zoning allows for several uses including mixed residential and commercial, retail, office, medical office, hospitality, and extended stay, to name a few. The density allows up to 245-units with bonus density. The zoning has a FAR of 8 with the potential to build up to seven stories.

Dania Beach is an attractive city in Broward Country located just south of the Fort Lauderdale-Hollywood International Airport and Port Everglades. Dania Beach has seen a substantial increase in commercial real estate investment and development activity over the past few years as the city evolves to draw in residents, businesses, tourism, and retail. The City's transformation has brought many new residents to Dania Beach. According to GlobeSt, the city's population has increased by 8.1% since 2010. Millenial's are the biggest contribution to the population growth at 2.7 times the nation's average. The subject property is near developments leading the city's transformation including Dania Pointe, a 102-acre mixed-use development with retail, restaurants, hotels, luxury apartments class A offices, and public event space, and The First at Dania Beach, a 6.42-acre project on West Dania Beach Boulevard that will include: a new city hall, fire station, office space, hotel, apartment units, retail, and parking. Additionally, 225-255 East Dania Beach Boulevard is adjacent to The Casino at Dania Beach and in close proximity to retailers including Publix, Dollar Tree, Bank of America, 7-Eleven, and .2 miles from The Place at Dania Beach, a luxury apartment complex.

Investment Highlights

  • Considerable Upside Due to Below Market Rents
  • Building Anchored by Citibank With $111 Million in Deposits
  • 3.25+ Acres with 625 Feet of Frontage on Dania Beach Boulevard
  • Minutes from Fort Lauderdale-Hollywood International Airport, I-95, and Beaches
  • Opportunity to Build 245-Unit Mixed-Use Project

Exclusively Listed By

Financing By

  • Robert Bhat

    First Vice President Capital Markets

    Direct:

    Email Robert

    Miami, FL

Listing Price: $10,000,000

Cap Rate
1.58%
Gross SF
54,912
Rentable SF
54,912
Price/Gross SF
$182.11
Lot Size
3.27 acres
Year Built
1966

Investment Highlights

  • Considerable Upside Due to Below Market Rents
  • Building Anchored by Citibank With $111 Million in Deposits
  • 3.25+ Acres with 625 Feet of Frontage on Dania Beach Boulevard
  • Minutes from Fort Lauderdale-Hollywood International Airport, I-95, and Beaches
  • Opportunity to Build 245-Unit Mixed-Use Project

Investment Overview

Marcus & Millichap is proud to exclusively present 225-255 East Dania Beach Boulevard a two-story multi-tenant office building located in Dania Beach, Florida. This office building is situated on a 3.27-acre parcel (or 142,230 square feet) and offers approximately 54,912 square feet of rentable space. 225-255 East Dania Beach Boulevard is currently 73% occupied by a mix of professional and credit tenants including Citibank, complete with drive-through lanes, and the headquarters of the travel agency, Cruise.com. The current tenants are short-term or month to month leases at below-market rents, positioning substantial upside through leasing vacant suites, increasing rents, and implementing long-term leases. The property has direct frontage on East Dania Beach Boulevard, just off highly traveled South Federal Highway, and is easily accessed from I95 and I595. Additionally, the property offers multiple points of ingress and egress, as well as 200 parking spaces, to accommodate heavy traffic.

The subject property is in East Dania Beach Boulevards Mixed Used District, in the heart of Dania Beach's development boom positioning this property as an excellent redevelopment play. The liberal EDBB-MU zoning allows for several uses including mixed residential and commercial, retail, office, medical office, hospitality, and extended stay, to name a few. The density allows up to 245-units with bonus density. The zoning has a FAR of 8 with the potential to build up to seven stories.

Dania Beach is an attractive city in Broward Country located just south of the Fort Lauderdale-Hollywood International Airport and Port Everglades. Dania Beach has seen a substantial increase in commercial real estate investment and development activity over the past few years as the city evolves to draw in residents, businesses, tourism, and retail. The City's transformation has brought many new residents to Dania Beach. According to GlobeSt, the city's population has increased by 8.1% since 2010. Millenial's are the biggest contribution to the population growth at 2.7 times the nation's average. The subject property is near developments leading the city's transformation including Dania Pointe, a 102-acre mixed-use development with retail, restaurants, hotels, luxury apartments class A offices, and public event space, and The First at Dania Beach, a 6.42-acre project on West Dania Beach Boulevard that will include: a new city hall, fire station, office space, hotel, apartment units, retail, and parking. Additionally, 225-255 East Dania Beach Boulevard is adjacent to The Casino at Dania Beach and in close proximity to retailers including Publix, Dollar Tree, Bank of America, 7-Eleven, and .2 miles from The Place at Dania Beach, a luxury apartment complex.

Exclusively Listed By

Financing By

  • Robert Bhat

    First Vice President Capital Markets

    Direct:

    Email Robert

    Miami, FL

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