UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
MLS Listing ID A12072664
HOA Y/N No
Annual Tax Amount $11,997
Lot Size 0.670 Acres
Property Sub-Type Industrial
Property Description
opportunity to acquire a net-leased income property backed by one
of the strongest credit profiles in commercial real estate: a Florida
municipality rated ‘AA'. The City of Oakland Park has 100% leased the
subject site at 5299 NE 12th Avenue under a five-year absolute net
lease commenced February 1, 2025, with three (3) two-year renewal
options and contractual 4% annual rent escalations.
The investment thesis is built on two pillars: (1) the City's AA credit —
stronger than the vast majority of corporate net-lease tenants,
including Walgreens (BBB), CVS (BBB), Dollar General (BBB), and on
par with select cities like New York, Miami and Dallas; and (2) the
underlying real estate — a 29,175 SF B-3 commercial-industrial parcel
in one of South Florida's most supply-constrained infill industrial
corridors, providing meaningful residual value protection should the
income stream ever end.
Location
State FL
County Broward
Area 3440
Zoning B-3
Direction 5299 NE 12th Avenue, Oakland Park, FL
Exterior
Private Pool Yes
Others
Tax ID 494214200100
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12072664
"We recognize that real estate ventures involve more than just transactions; they’re intricate puzzles that demand strategic thinking and a keen understanding of the numbers. With years of experience in the industry, we bring a wealth of knowledge and expertise to the table, ensuring that every client receives tailored solutions to meet their unique needs."