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Freestanding Building - Cap Rate of 7.97%

1632 E. Atlantic Boulevard, Pompano Beach, Florida 33060
Sold: $550,000
Freestanding Building - Cap Rate of 7.97%

Property Details

Property Type
Improved property
Building Type
Freestanding
Building Size
8,118 sqft
Land Size
0.35 acres
Sewer
Yes
Water
Yes
Zoning
B-1
Electric
Yes
Year Built
1974
Roof
Yes
Parking
24 Spaces
Lease Type
625000
Construction
Yes

Property Description

This 100% occupied multi-tenant retail building offers an investor stable long-term cash flow with the potential for future rental rate increases to market.  The property is being offered as an estate sale for disposition after almost 30 years of ownership.  The building has been well maintained by ownership with a new roof about 5 years ago. The property fronts on busy Atlantic Blvd yielding great exposure and visibility.  Prior owner did not keep rental rates up to market and we believe upside can be realized in future income.  This easily maintained, well located asset represents an excellent value for a savvy investor.  For more information visit the property web site at http://sale.svn.com/94224

Location

Contact

J. Keith Kidwell, SIOR, CCIM
J. Keith Kidwell, SIOR, CCIM
SVN Commercial Realty