2425 E Commercial Blvd - Medical FOR SALE


Fort Lauderdale, FL 33308- Landings
$5,950,000 USD
954-242-6627
2425 E Commercial Blvd, Fort Lauderdale, FL for Sale
$5,950,000 USD
Medical - FOR SALE
1/32
null | 8.48% Cap Rate

2425 E Commercial Blvd
Fort Lauderdale, FL 33308
Landings


OVERVIEW

2425 OFFICE PLAZA is located at 2425 NE 50TH ST East of US1 in Fort Lauderdale. This four story 23,339 SF multi-tenant office building was originally built in 1971 and then renovated in 2020 and has been exceptionally maintained. The building consists of 21,928 rentable square footage on a .45 acre (19,366SF) lot. Parking consists of 42 dedicated spots with 30 city spots in front of the building. There is 100 feet of frontage on East Commerical Blvd with over 47,000 daily passing cars. This building is currently zoned for a variety of businesses including medical, health care, legal, professional, government office space, and much more. There is a development opportunity for up to 150ft. The building is 93% occupied with 12 medical and professional tenants and 2 vacant spaces. 84% of the building is medical tenants. The building has been converted to 85.3% NNN Leases and 14.7% modified gross. January 2026 the building will be 93.6% NNN Leases. The following renovations were completed in 2020: new roof, updated four AC systems, updated bathrooms, updated elevators, interior and exterior paint, repaved the parking lot and relined the parking spots and updated the parking signs, remodeled the offices, and installed interior and exterior security monitoring systems. There are three kitchens built out throughout the building. Each floor has men and women's bathroom. The 40 year inspection was completed in 2021. Located on the northeast corner of Federal Highway and Commercial Blvd with 100 feet of frontage this building gets over 40,000 cars passing per day. It is two miles from I-95, one mile from the beach, 10 miles from Fort Lauderdale International Airport, 5 miles from Fort Lauderdale Executive Airport, across the street from Holly Cross Hospital and two miles form Broward Imperial Point Hospital. This is a great investment for any portfolio. Due to the current vacancies and the opportunity to convert the modified gross leases to NNN there is huge upside potential for growth.

FOR SALE DETAILS

PRICE

$5,950,000 USD

PRICE/SF

$255 USD /SF

CAP RATE

8.48%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2425 Office Plaza

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

42

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

CB

APN/PARCEL ID

49-42-13-07-0030

ASK ABOUT THIS PROPERTY

Brooke WaltzerWaltzer Properties LLCMore Info
954-242-6627

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Brooke WaltzerWaltzer Properties LLCMore Info
954-242-6627

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.