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 OverviewSALE PRICE: $2,700,000BUILDING SIZE: 20,748 SFLOT SIZE: 29,644 SFNUMBER OF UNITS: 7PRICE / SF: $130.13CAP RATE: 5.9%NOI: $159,107YEAR BUILT: 1976ZONING: 48 – Warehousing, DistributionProperty HighlightsConvenient East Broward locationSolid value add potentialAll tenants paying well under market rents20,748 SF building size7 small bay units16 ground level doors in rearCurrent NOI: $159,107/year
