Self-Storage/Micro-Bay Industrial | 537-549 NE 34th St
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Self-Storage/Micro-Bay Industrial 537-549 NE 34th St
5,467 SF Industrial Building Oakland Park, FL 33334 $1,697,796 CAD ($311 CAD/SF)
Investment Highlights
- Unit Count: 20 Units
- Number of Current Tenants: 10
- Vacancies: 3 Units (300 SF each)
- Folio #: 494223055510
Executive Summary
537 - 549 NE 34 STREET is a self-storage/micro-bay industrial property featuring Twenty 300 SF units and two common area restrooms located on the north-end of the property. Most units are leased by local businesses, tradesmen, or used for self-storage.
Bay’s 11-13 totaling 600 SF leased for $30 PSF (modified gross). Bay 19 (300 SF) and Bay 20 (300 SF) leased for $31.65 PSF and $31.95 PSF respectively. These deals were in the Top range of Comparable Lease Rates for small self-storage/micro-bay industrial properties within Oakland Park. With 4,267 SF of the 5,467 SF building remaining under market rate, the property has proven upside to slowly re-tenant and bring rents up to $29-32 PSF.
The seller is also open to market-rate offers for the adjacent raw land, 551 NE 34 ST (Folio 494223055500), which is currently zoned residential (R-2). A preliminary review by a local land-use attorney suggests promising potential for a change of use (to I-1).
Bay’s 11-13 totaling 600 SF leased for $30 PSF (modified gross). Bay 19 (300 SF) and Bay 20 (300 SF) leased for $31.65 PSF and $31.95 PSF respectively. These deals were in the Top range of Comparable Lease Rates for small self-storage/micro-bay industrial properties within Oakland Park. With 4,267 SF of the 5,467 SF building remaining under market rate, the property has proven upside to slowly re-tenant and bring rents up to $29-32 PSF.
The seller is also open to market-rate offers for the adjacent raw land, 551 NE 34 ST (Folio 494223055500), which is currently zoned residential (R-2). A preliminary review by a local land-use attorney suggests promising potential for a change of use (to I-1).
Property Facts
| Price | $1,697,796 CAD | Rentable Building Area | 5,467 SF |
| Price Per SF | $311 CAD | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1967 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Distribution | Clear Ceiling Height | 10 ft |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.25 AC |
| Price | $1,697,796 CAD |
| Price Per SF | $311 CAD |
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | C |
| Lot Size | 0.25 AC |
| Rentable Building Area | 5,467 SF |
| No. Stories | 1 |
| Year Built | 1967 |
| Tenancy | Single |
| Clear Ceiling Height | 10 ft |
| Opportunity Zone |
Yes |
Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 49-42-23-05-5510 | Improvements Assessment | $560,021 CAD |
| Land Assessment | $139,512 CAD | Total Assessment | $769,487 CAD |
PROPERTY TAXES
Parcel Number
49-42-23-05-5510
Land Assessment
$139,512 CAD
Improvements Assessment
$560,021 CAD
Total Assessment
$769,487 CAD
zoning
| Zoning Code | I-1 (Light Industrial) |
| I-1 (Light Industrial) |
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Self-Storage/Micro-Bay Industrial | 537-549 NE 34th St
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