$7,500,000 SINGLE USER OR MULTI-TENANT MULTIPLE USES PERMITTED FRONTING I-95!
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1 IMPRESSIVE MIXED USE INDUSTRIAL/OFFICE SHOWROOM PROPERTY FOR SALE $7,500,000 SINGLE USER OR MULTI-TENANT MULTIPLE USES PERMITTED FRONTING I-95! SUBJECT: 3301 N 29 AVENUE HOLLYWOOD FL FULLY AIR CONDITIONED +/- 60,000 SQ. FT Anna's Linens Regal Theaters The Home Depot BJ's Wholesale Club Big Lots Kmart Marshalls OfficeMax Party City Ross Dress for Less Home Goods Oakwood Plaza BrandsMart USA Starbucks Outback Steakhouse Padrino s Men s Firehouse Subs TOO Jay s Ulta Beauty Show Carnival TJ Maxx Hobby Lobby Dania Pointe Exclusively Listed By: Infinity Commercial Real Estate Ted Konigsberg, SIOR ted@infinitycommercial.net Office: Fax:
2 112 Striped Parking Spots: 6 Handicapped Wheelchair Access to All Parts of Building 1200 Amps, 240v, 3-Phase Power 7 Electric Meters Beautiful Office/Showroom Areas 8 Dock High Doors, 1 With Street Ramp Up to 24 Clear in Roof Under Warranty The information contained herein is believed accurate, and has been obtained from sources deemed to be reliable. However, all information should be verified independently. Infinity Commercial Real Estate shall not be responsible for misstatement of facts, errors, omissions, price change, prior sale or withdrawal without notice. Exclusively Listed By: Infinity Commercial Real Estate Ted Konigsberg, SIOR ted@infinitycommercial.net Office: Fax:
3 ABOUT THE AREA: The city of Hollywood is in the heart of South Florida, between Miami and Ft. Lauderdale, along the Atlantic Ocean. Founded by Joseph Young in 1925, it s approximately 30 square miles in size and is Broward County s third-largest municipality with a population of roughly 145,000 residents. The average annual high is 83 degrees and the low is 68 degrees. The region is the 6 th largest metropolitan statistical area in the U.S., offering superior access to all major South Florida markets and the world-class amenities of Hollywood Beach, Fort Lauderdale-Hollywood International Airport and the Port Everglades seaport. The City Offers: A low-tax, low -cost, high quality business friendly environment A diverse and well-educated workforce, ranked by CNBC as one of the top 3 in the nation One of the top ten (by dollar volume) seaports in the U.S. Ranked first for US trade with South America Superior healthcare through the award winning Memorial Regional Healthcare System, 5 th largest in the nation A world class international airport, handling over 12,000 passengers per year and generating over $13 billion in economic activity Unparalleled quality of life with sandy beaches, a nationally accredited park system and year-round family friendly festivals and events Stirling Rd N 29th Ave Greene St Drive Times 5 mins to I mins to I mins to I mins to Downtown Ft. Lauderdale 36 mins to Miami International Airport 30 mins to Port of Miami 12 mins to Fort Lauderdale International Airport 14 mins to Port Everglades 8 mins to Dania Beach 15 mins to Hollywood Beach DOWNTOWN FT. LAUDERDALE 281,000 CARS PASS THIS SITE DAILY SUBJECT PROPERTY DANIA POINTE/ OAKWOOD PLAZA Sheridan St ABOUT THE BUILDING LOCATION: This great building fronts the West side of I-95 at the corner of North 29th Avenue and Green Street. 29th Avenue provides a direct connection to the Stirling Road/I-95 Interchange to the North, and the Sheridan Street/I-95 Interchange to the South. I-75 and the Florida Turnpike are just minutes away, The Turnpike and I-95 are the major North-South statewide corridors and I-75 provides fast access to the Florida west coast. Directly across I-95, Oakwood Plaza and the mixed-use Dania Pointe development provide near immediate access to great shopping, multiple restaurants, hotels and even new residential units. Fort Lauderdale, Hollywood and Dania beaches are a short drive, and there is nearby workforce to executive level housing. The economic drivers of Port Everglades Seaport, Ft. Lauderdale-Hollywood International Seaport and the Broward County Convention Center have attracted many multi-national companies to the area. Building visibility from I-95 is exemplary, with average daily exposure to over 280,000 vehicles.
4 ABOUT THE BUILDING: Per the Broward County Property Tax Appraiser, the tax card number is , the site address is 3301 NORTH 29TH AVENUE, HOLLYWOOD FL and the abbreviated legal description is SOUTH FLORIDA INDUSTRIAL PARK B PORTION OF PARCEL G DESC AS COMM AT NW COR COR PAR G,S TO POB,S ,E 89.52,S 42.92,E 40,S 58.50,E 210,N 10.34,E 0.33, N 27.40,E ,NE ,NWLY ARC DIST 42.62,W ,SWLY ARC DIST TO POB. Built in 1968, this +/- 60,000 square foot building is located upon a well improved, 2.63 acre site. Extensive renovations were undertaken in 2005, 2015 and It is fully fire sprinklered and air conditioned, with abundant parking and unusually large electric capacity with 7 individual meters and 240v, 3 phase service. Walls are concrete block system. The roof is built up bitumen over bar joists and lightweight concrete decking and is under warranty. In 2015, a 40 year recertification, asbestos survey and environmental report were completed satisfactorily. The IM-1 zoning district in which it is located accommodates heavy commercial, office, light manufacturing, hotel and entertainment uses, amongst others. The building has been demised for multi-tenant use, but could easily and cost effectively be modified to serve a single occupant. It contains a beautifully improved office/showroom area to the West, functional and well configured dock high industrial/warehouse areas in the center accompanied by second floor elevator served offices, and open showroom and office space fronting I-95 to the East. Well lit, asphalt paved parking along the East and West sides and functional and efficient loading docks on the North side assure easy access to parking and loading from all areas of the building, which is surrounded by extensive and mature landscaping. There are 3 wheelchair ramps serving the East, West and North demised tenant entrances. ABOUT THE NUMBERS, ABOUT THE MARKET: 2017 property tax was $111, Flex rental rates in the vicinity West of I-95 average about $12.50 NNN, and I-95 frontage leases for about $15 NNN per foot. Rents at Dania Pointe and Oakwood Plaza, directly East of the Property lease in the mid $30 NNN range for retail and just under $20 per foot NNN for office. Office rents at the nearby Design Center of the Americas are in the $30.00 modified gross range. Credit tenants are common in the area, due to proximity to the port, airport, Ft. Lauderdale CBD and major South Florida highways. Vacancy percentages in the area are in the low, single digit range, and lease up of the property could occur very quickly. Prior tenants were not renewed, as the current owner contemplated using the building for their own business purposes, which have changed. This is a rare opportunity for both owner/users and investors, as the improvements could not be constructed anywhere close to the asking price, and initial annual NNN rents for the property would easily be $800,000 to $850,000. As may be seen from the table below, the Population growth and income demographics of the property submarket are exceptionally robust, and the multi-million square foot mixed use 2022 Projection Dania Pointe development will certainly be a significant driver for continued growth and investment. Further, both the port and airport 2017 Estimate are undergoing significant expansion and improvements, and both are already U.S. leaders in international trade Census Exclusively Listed By: Infinity Commercial Real Estate Ted Konigsberg, SIOR ted@infinitycommercial.net Office: Fax: Growth Growth Annual Consumer Spending 2017 Total 2017 Per Household $14,562
5 BUILDING FIRST FLOOR Suite 100, Rentable Sq. Ft. Office & Showroom: 9,593 : 15,771 Mezzanine: 3,087 Total: 28,451 Suite 200 (A) Ground Floor Only, Rentable Sq. Ft. Office: 609 : 10,594 Total: 11,203 Suite 300 (A) Ground Floor Only, Rentable Sq. Ft. Office & Showroom: 12,631 Suite 300 (B) Ground & 2nd Floor Rentable Sq. Ft. 1st Floor Office & Showroom: 13,212 2nd Floor Office: 6,562 Total: 19,774 Suite 200 (B) Ground & 2nd Floor Rentable Sq. Ft. 1st Floor Office: 1,190 2nd Floor Office & Showroom: 6,562 : 10,594 Total: 18,346
6 Suite 100 Mezzanine BUILDING SECOND FLOOR OPEN WAREHOUSE Suite 200(B) or 300 (B) Second Floor Office & Showroom
7 Suite 100, Rentable Sq. Ft. Office & Showroom: 9,593 : 15,771 Mezzanine: 3,087 Total: 28,451 2nd Floor Mezzanine Office/Showroom
8 Suite 200, Rentable Sq. Ft. Option A Ground Floor Only Office: 609 : 10,594 Total: 11,203 Whse Loading Area 1st Floor OFC Elevator/Lobby
9 Suite 200, Rentable Sq. Ft. Option B Ground & 2nd Floor 1st Floor Office: 1,190 2nd Floor Office & Showroom: 6,562 : 10,594 Total: 18,346 Whse Loading Area 1st Floor OFC Elevator/Lobby 2nd Floor Office & Showroom
10 Suite 300, Rentable Sq. Ft. Option A Ground Floor Only Office & Showroom: 12,631 Offices Showroom
11 Suite 300, Rentable Sq. Ft. Option B Ground & 2nd Floor 1st Floor Office & Showroom: 13,212 2nd Floor Office & Showroom: 6,562 Total: 19,774 Offices Showroom 2nd Floor Office & Showroom
12 SKETCH OF SURVEY
13 Suite 200 Suite 200 North Side Loading Doors Suite 100: West Side Conference Room Suite 100: West Side Office/Showroom Suites : Common Elevator Lobby to 2nd Floor
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