- Lot Size Acres 0.681
- Building Sq Ft 20,748
- Building Price per Sq Ft $130.13
- Land Sq Ft 29,644
- Land Price per Sq Ft $91.08
Description
APEX Capital Realty is proud to exclusively present for sale G & R Industrial Park, a small bay industrial warehouse complex in Oakland Park, FL, consisting of 20,748 SF of building improvements on a 29,644 SF lot. The building is fully occupied by five tenants, and can be easily separated into seven flow through bays, with a total of 16 grade level loading doors at the rear. Three tenants are month to month, one tenant has a lease effective until November 2021, and all tenants are long term paying below market rents. The building and parking lot have been recently renovated and diligently maintained. This opportunity presents solid value add potential to bring net revenues up significantly by turning over new leases at market rate, with landlord expenses being passed through to tenants. No capital improvements needed! Real estate taxes, insurance, maintenance, and common area utilities charges are currently not being passed through to tenants, and paid by landlord. Current NOI of $158,000/year generates nearly a 6% cap rate, with tremendous upside.
Property Overview
SALE PRICE: $2,700,000
BUILDING SIZE: 20,748 SF
LOT SIZE: 29,644 SF
NUMBER OF UNITS: 7
PRICE / SF: $130.13
CAP RATE: 5.9%
NOI: $159,107
YEAR BUILT: 1976
ZONING: 48 – Warehousing, Distribution
Property Highlights
Convenient East Broward location
Solid value add potential
All tenants paying well under market rents
20,748 SF building size
7 small bay units
16 ground level doors in rear
Current NOI: $159,107/year
Attachments & Files
Listing Demographics
All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.
| 1-Mile | 3-Miles | 5-Miles | ||
|---|---|---|---|---|
| Total Population | 18,648 | 129,840 | 310,576 | |
| Population Median Age | 41 | 45 | 42 | |
| Population by Age | 0-9 Yrs | 1787 (9%) | 11738 (9%) | 33867 (10%) |
| 10-19 Yrs | 1530 (8%) | 9878 (7%) | 28874 (9%) | |
| 20-29 Yrs | 2451 (13%) | 13208 (10%) | 37379 (12%) | |
| 30-39 Yrs | 2839 (15%) | 16014 (12%) | 41955 (13%) | |
| 40-49 Yrs | 2760 (14%) | 18597 (14%) | 40427 (13%) | |
| 50-59 Yrs | 2969 (15%) | 22003 (16%) | 48150 (15%) | |
| 60-69 Yrs | 2703 (14%) | 18711 (14%) | 38762 (12%) | |
| 70+ Yrs | 1609 (8%) | 19691 (15%) | 41163 (13%) | |
| Median HH Income | $53,604 | $55,969 | $50,314 | |
| Total Household Income | < 24K | 1553 (20%) | 11895 (20%) | 30542 (24%) |
| 25-49K | 1919 (25%) | 14319 (24%) | 32151 (25%) | |
| 50-74K | 1357 (18%) | 10029 (17%) | 22004 (17%) | |
| 75-99K | 805 (10%) | 6821 (11%) | 13914 (11%) | |
| 100-199K | 1395 (18%) | 9801 (16%) | 19154 (15%) | |
| 200K+ | 387 (5%) | 5013 (8%) | 8260 (6%) | |
| Highest Education Level | No Diploma | 2198 | 11933 | 34240 |
| Diploma or GED | 4016 | 26420 | 64806 | |
| Some College | 2799 | 19405 | 43631 | |
| Assoc. Degree | 1226 | 8617 | 19166 | |
| Bachelors Degree | 2721 | 22882 | 43861 | |
| Higher Degree | 1329 | 13797 | 27092 | |
| Total Housing Units | 8,242 | 75,114 | 162,806 | |
| --Owner-Occupied | 4,079 | 34,133 | 67,995 | |
| --Renter-Occupied | 3,336 | 23,744 | 58,029 | |
| Owner-Occupied Values | < 100K | 482 | 3747 | 10715 |
| 100-199K | 882 | 7870 | 18419 | |
| 200-299K | 801 | 6053 | 12282 | |
| 300-399K | 833 | 5238 | 9088 | |
| 400-499K | 557 | 3654 | 5576 | |
| 500K+ | 524 | 7571 | 11916 | |
| Total Working Age Population | 15,998 | 111,865 | 259,381 | |
| In Work Force | 11,598 | 71,965 | 164,535 | |
| Not In Work Force | 4,400 | 39,899 | 94,846 | |
| Workforce Employed | 10,718 | 67,747 | 151,456 | |
| Workforce Unemployed | 880 | 4,212 | 13,018 | |
| Civlian Workforce | 11,598 | 71,959 | 164,473 | |
| Military Workforce | 0 | 6 | 62 | |
| Total Households | 7,415 | 57,877 | 126,025 | |
| Family Households | 4,047 | 27,675 | 65,013 | |
| Non-Family Households | 3,368 | 30,202 | 61,012 | |
| Married Couple | 2,836 | 19,892 | 42,133 | |
| Other Family | 1,210 | 7,783 | 22,880 | |
| Married w/Child | 1,042 | 5,527 | 12,527 | |
| Single Male w/Child | 126 | 1,009 | 2,307 | |
| Single Female w/Child | 407 | 2,795 | 8,389 | |
Population Change Last Two Decades - Plus Projection
| 2000 | % | 2010 | % | 2020 | % | 2030 | |
|---|---|---|---|---|---|---|---|
| Florida | 15,982,378 | +18 | 18,801,310 | +14 | 21,517,610 | +13 | 24,340,457 |
| Broward County | 1,623,018 | +8 | 1,748,066 | +11 | 1,942,686 | +9 | 2,120,334 |
No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.
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