Commercial property in Oakland Park, Florida № 1372859

Property description

537 - 549 NE 34 STREET is a self-storage/micro-bay industrial property featuring Twenty 300 SF units & two common area restrooms located on the north-end of the property. Most units are leased by local businesses, tradesmen, or used for self-storage. Bay’s 11-13 totaling 600 SF leased for $30 PSF (modified gross). Bay 19 (300 SF) and Bay 20 (300 SF) leased for $31.65 PSF and $31.95 PSF respectively. These deals were in the Top range of Comparable Lease Rates for small self-storage/micro-bay industrial properties within Oakland Park. With 4,267 SF of the 5,467 SF building remaining under market rate, the property has proven upside to slowly re-tenant and bring rents up to $29-32 PSF.