Commercial Real Estate Investment Opportunity
Property Type — Commercial
YEAR BUILT – 1956
Two commercial buildings available for rent. One is currently being rented. Another is vacant.
Specs — Approx. 1 Acre
AMAZING LOCATION WITH A WIDE FRONTAGE ON HOLLYWOOD BLVD
Steps away from Florida Turnpike and 441. More than 50,000 cars per day.
Two Buildings — Automotive, Retail
CURRENTLY BRINGING IN MONTHLY INCOME
One building is approx. 3,500 sq ft and rented by an retail store. Another building is approx. 4,500 sq ft and was outfitted as an auto showroom but is currently vacant.
Building #1, 3,500 Sq. Ft — $9,000/Month + Taxes
RETAIL STORE – TENANT THERE FOR APPROX. 20 YEARS
Tenant owns an audio store, is on-time with rent and has been there for a long time.
Building #2, Approx. 4,500 Sq. Ft. — Vacant
Approximate market value would bring in at least $10,000/month in rent. Highly trafficked road and very visible from the street.
Maintenance Costs — Approx. $22,000/Yr
Costs are relatively minimal. $12,000 maintenance for the auto showroom and $10,000 for the audio store.
Seller is looking for a fast deal as he needs to liquidate the asset from the portfolio. Willing to take a major reduction from market value.
Improvements to Enhance Market Value
Pave parking lot and create defined lines
Approx. Market Value on this Property with a proper listing would be well over $3,000,000. Seller is looking for an immediate liquidation and will take a substantial reduction.
To give you an idea, a 2,200 sq ft building down the street is on the market for $2.2 million.
Will send you more details upon request. Accepting all best offers.
|Date||July, 18th 2016|