Commercial property in Fort Lauderdale, Florida № 1948197

Property description

Located in the Progresso Village / South Middle River area of Fort Lauderdale, just minutes from Downtown and I-95, this 2,700 SF commercial property at 1026 NW 9th Ave offers excellent exposure along a high-traffic corridor with approximately 31,500 vehicles per day. The property features 10 parking spaces and a new roof that ensures reliability. It is currently occupied by three tenants—a nail salon, a restaurant, and a beauty supply store—on month-to-month leases, generating an NOI of $77,015 and offering a turnkey investment with a cap rate of almost 6.5% from day one of ownership. The leases include annual rent increases, providing stable income. With a pro forma GOI of $103,500, it presents an attractive opportunity to convert to a NNN lease structure to capture additional upside!