2875-2879 W Sunrise Blvd
For sale2875-2879 W Sunrise Blvd, Fort Lauderdale, FL 33311
Property type
Retail
Price
$700,000
Cap Rate
9.5%
Building size
2,586 SF
Year built
1984
Lot size
0.17 acres
Property description
Franklin Street is pleased to present 2875-2879 W Sunrise Blvd, a value-add, multi-tenant retail property located along W Sunrise Blvd in Fort Lauderdale, FL. The property consists of 2,480 SF on approximately 0.17 acres with three retail suites. Currently 25% occupied, the property offers investors significant upside through the lease-up of approximately 1,860 SF of vacant space. The existing tax service tenant has successfully operated out of the property for over 10 years, providing an established income stream while investors work to stabilize the remaining space. At full occupancy, the property is projected to generate $66,478 in NOI, representing a 9.50% pro forma cap rate. The property features flexible suite sizes ranging from 620 to 1,240 SF, appealing to a variety of retail and service-oriented tenants. The smaller suites provide leasing flexibility and strong rental income potential, while also offering an owner-user the opportunity to occupy a portion of the building while collecting income from the remaining space. Strategically located along W Sunrise Blvd with approximately 46,000 vehicles per day, the property benefits from strong visibility, convenient access to I-95 and US-441, and over 425,000 residents within a five-mile radius. The property offers investors an opportunity to acquire a well-located retail asset with significant lease-up upside and long-term value creation potential.