Description
Commercial Building containing two units on with excellent visibility on busy Davie Blvd. One unit contains 2406 square feet and is leased to a check cashing store that has been a tenant for many years. The lease is NNN and ends 12/31/2025 with one 5-year option to renew. Base rent increases 4% per year during the current term. The tenant also pays 74% of the estimated CAM, RE Taxes and Ins., for the property with the monthly rent. The other unit contains 864 square feet and is vacant. It can be rented out or used by owner. The property has room in the rear for a trailer or to use for storage. Freshly painted and roof recently sealed. Cap rate is 5.1% at asking price. With yearly increases in tenant's base rent and the ability to lease vacant unit, the cap rate could easily exceed 6%.
Location
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Listing Office: Preferred Properties Intl.,Inc
