Subway Center
- Building Size: 14,300 sq. ft.
- Occupancy Rate: 100%
Leasing Opportunity
Our Tenants
In 2013, we identified a prime but underutilized commercial property at 1411 S State Rd 7, Fort Lauderdale. With zero percent occupancy at the time of purchase, this 14,300 sq/ft space was acquired for $780,000, at a rate of $45.61 per square foot. Seeing immense potential in this location, we committed to transforming it into a vibrant retail hub.
Transformation and Investment
Over the course of three years, we invested $700,000 in capital improvements, bringing the total project cost to $1,480,000. This renovation involved significant upgrades to the infrastructure, improving both the aesthetic and functional aspects of the center. Today, Subway Center stands as a fully leased retail space with 100% occupancy, offering a lucrative investment opportunity with a remarkable annual net operating income (NOI) of $257,400.
Investment Highlights
- Purchase Price: $780,000
- Capital Improvements: $700,000
- Total Project Cost: $1,480,000
- Building Size: 14,300 sq/ft
- Current Price Per Sq/Ft: $103.49
- Occupancy Rate: 100%
- Annual NOI: $257,400
- Cap Rate: 17.72%
- Current Project Value (at 7.00% Cap): $3,677,000
- Capital Gain: $2,197,000 (148.46%)
Address:
1411 S State Rd 7
Fort Lauderdale FL 33317
Contact Number:
+1 954-955-6222
