Available For Sale - Office

20,600 SF | Show Pricing $

Office Space in Oakland Park for sale

AVAILABILITY DETAILS

Size
20,600 SF
Price/SF
Show Pricing $
Listing ID
SA516111
Notes
SVN Commercial Partners, as exclusive agent, is pleased to present for sale, The Oakland Center (the "Property"), a +/-20,600 rentable square foot, two-story office building in Oakland Park, Florida (Fort Lauderdale MSA). The Property is situated just off NE intersection of W Oakland Park Blvd and NW 31st Ave, two high-traffic corridors in Broward County with a combined traffic count of over 90,000 vehicles a day.



The Oakland Center is comprised of a diverse mix of service oriented tenants serving the NW Broward community. The Property is 68% occupied with a majority of tenants paying rents that are 25%+ below the most recent rents achieved at the Property. With many tenants nearing their lease term expiration, immediate upside can be realized by raising current rents to market. A majority of the tenants have NNN leases and are responsible for their full pro-rata share of the Property's operating expenses, sheltering the an investor from rising operational costs.



The Property was recently renovated including the exterior façade, common area, lobby and unit upgrades and underwent a 40-year certification in 2019. The Property is situated on a +/- 1.59-acre parcel with a robust parking field of 88 dedicated parking spots, a 4.27/1,000 SF ratio, allowing for various tenant uses. The Oakland Center offers an ingress/egress access point along NW 31st Ave and a dedicated curb cut along W Oakland Park Blvd providing premier accessibility to all directions of traffic.



Roughly 183,000 people live within a 3-mile radius of the Property which is expected to grow by 2.2% within the next five years. The Oakland Center is located 1.2 miles east of N State Rd 7 (US-441), 2-miles east of the Florida Turnpike, 2.5-miles west of Interstate-95, 8-miles from downtown Fort Lauderdale, and 10 Miles from Fort Lauderdale International Airport. The Property directly faces Cassia Commons, a newly constructed and gated Pulte townhome community with homes starting at $406,000.
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Elon Gerberg, SVN | Commercial Partners