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Gelfand Realty Miami Properties for Sale - Other Land for Sale

5050 PETERS RD, FORT LAUDERDALE, FL 33317

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  • $2,590Taxes
  • Property Type:

    Land

Asking Price$1,950,000

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Description

$1,950,000

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.

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