2055 Lee St Hollywood – Triple Leased Office Building

  • $2M
2055 Lee St, Hollywood, FL 33020, USA

2055 Lee St Hollywood – Triple Leased Office Building

2055 Lee St, Hollywood, FL 33020, USA
  • $2M

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Title Property Type Price Beds Baths Property Size Availability Date
sqft

Description

Marketing Description
A true triple net leased freestanding office building located in desirable Hollywood Florida. The physical building is 20,000 square feet of usable space positioned on a large 32,000 SF lot. This property was fully renovated in 2009 by CWSFL was used as their corporate headquarters building for the South Florida region. The entire building is ADA compliant, has ample parking, full fire sprinkler system, impact windows and doors, and in overall very good condition.
The entire property is currently leased to a single tenant “Three Hearts ADT”. They are a very qualified and well-positioned tenant specializing in adult education and job placement, which is a very growing industry. Enclosed in this package is the tenant’s bio. They maintain the entire property excluding the main roof and are on a new triple net lease. Tenant is responsible for paying Landlord’s insurance and taxes and other CAM charges.
This property is currently grossing $15,570 per month, netting $12,000 per month or $144,000 per year. This NOI provides a strong cap rate of 7.2% at a full asking price of $1,999,000.
South of Sheridan St on the corner of Dixie Hwy and Lee St.

Investment Highlights
Actual 7.2% Cap Rate at Full Asking Price.
3% Annual Increases.
Solid credit Tenant well capitalized and positioned.
New 5 year lease.
20,000 sf built out the office, only $99 a foot, see enclosed comparable sales averaging over $200 a foot.
Building fully renovated in 2009

Details

Updated on July 11, 2019 at 9:52 pm
  • Property ID: 15618
  • Price: $2M
  • Property Size: 20000 sqft
  • Year Built: 1966
  • Property Type: Office
  • Property Status: For Sale
  • Price Per/Sf: 99.95
  • Lot Size (acres): 0.75
  • Last Remodel Year: 2009
  • Number of Buildings: 1
  • Number of Stories: 2
  • Tenancy: Single
  • Cap Rate: 7.20%
  • Net Operating Income: 144,000

Additional details

  • Lease Type: NNN
  • Rent Commencement: 11/30/2016
  • Lease Expiration: 11/30/2021
  • Remaining Term: 2.4 years
  • Permitted Zoning: IM-1
  • APN: 51-42-03-10-1000
  • Address 2055 Lee St, Hollywood, FL 33020, USA
  • City Hollywood
  • State/county Florida
  • Zip/Postal Code 33020
  • Area Royal Poinciana

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What's Nearby?

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Contact Information

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John DeMarco
  • John DeMarco
  • 954.453.1000

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John DeMarco
  • John DeMarco