Newmans Survey No 1 2 For Sale
5050 Peters Rd, Fort Lauderdale, FL 33317

$1,460,000
Sold
Mila Bogatov
Mila Bogatov
Luxury Real Estate Broker

Details


  • MLS Number:A11062326
  • List Price: $1,950,000
  • Sold Price: $1,460,000
  • Taxes:$2,590
  • Listing Date:June 25, 2021
  • Sold Date: December 3, 2021
  • Days On Market:160

Description


The property currently resides in unincorporated Broward County’s jurisdiction which is a benefit for any investors seeking re­development or zoning changes. Subject property maintains an existing right of use agreement with Broward County for exclusive use of additional 5­acre concurrent parcel. The property is currently used for landscaping trucks and equipment storage as well as nursery. There are about 40 month­to­month tenants. The actual gross income is $188,880 and growing monthly. The seller projects to raise the income to over $232,080 by the end of the year. This income will provide an investor with a net return of $196,057 per year. This NOI will yield a strong 10% capitalization rate at a full asking price.

Location


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Mila Bogatov
Mila Bogatov
Luxury Real Estate Broker