general “storage” warehouses to “small user” warehouses · 2020. 1. 22. · t h e e i r e c...

T H E E I R E C O M P A N I E S

General “Storage” Warehouses to “Small User” Warehouses

721 731 & 741 NE 42ND STREET EAST DEERFIELD BEACH FL

3 WAREHOUSE BUILDINGS TOTALING SQUARE FEET 16,640 SQUARE FEET

NON-ENDORSEMENT & DISCLAIMER NOTICE

The information contained in the following Marketing Brochure is proprietary and strictly confidential.

It is intended to be reviewed only by the party receiving it from The Eire Companies or its affiliates and

should not be made available to any other person or entity without the written consent of The Eire

Companies or its affiliates. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, and to establish only a preliminary level of interest in the

subject property. The information contained herein is not a substitute for a thorough due diligence

investigation. The Eire Companies or Affiliates make no warranty or representa- tion, with respect to

the income or expenses for the subject property, the future projected financial performance of the

property, the size and square footage of the property and improvements, the presence or absence of

contami- nating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the

physical condition of the improvements thereon, or the financial condition or business prospects of any

tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The

information contained in this Marketing Brochure has been obtained from sources we believe to be

reliable; however, The Eire Companies or its affiliates has not verified, and will not verify, any of the

information contained herein. All potential buyers must take appropriate measures to verify all of the

information set forth herein.

Gregory Lawrence, Broker The Commercial Department

561 213 3366 [email protected]


Executive Summary

Property History:

This Property has always been used for “Storage” and Light Industrial Uses. The Owner has purchased

renovated and leased up, the Property into a STORAGE WAREHOUSE and maintained the buildings well.

The Buildings are in good physical condition with all working roll up doors and concrete structure

including Twin T Concrete roofs. There is Added Value to this unique Small Bay Warehouses of 340 and

360 sq ft bays

Location

Bordered by North and South Roadway Access to I-95 and the Turnpike, the property is in an excellent

location for Tenants who service the North and South Markets as well as the Eastern Side of Broward

and Palm Beach County.

Market Note:

Broward County Vacancy Rates are sub 5% at this time. NO new construction is planned for “Small

Bay” Warehouses, as the market expands industrially with substantially larger bays.

Black Creek Group REIT is building 436,000 sq ft in “East Pompano Industrial Center ”directly east of

this project now, on the east side of Dixie. Minimum bays are 18,500 sq ft. Avail May 2020.

Higher rates are forecasted with NO Small Tenant Vacancy or New Construction.

These individual Bays are self contained facilities from 300 to 400 square feet with individually locking

and all night LED lighting.


Summary of Salient Facts

Property 721 thru 741 NE 42ND STREET EAST DEERFIELD BEACH FL

Built 1969

Renovated 2018

Parcel ID’s 484-213-010-080

Location East 42nd St Deerfield Beach. ½ Mile North of Sample Just West Off Dixie

City Deerfield Beach

County Broward County

Zoning M1 Industrial

Properties and Sizes of 9 Contiguous Structures:

721: 5,320 Sq Ft

731: 5,320 Sq Ft

741: 5,700 Sq Ft

Total: 16,640 Sq Ft

Rental Income: $244.056 Gross (sales tax NOT Included)

Operating Expense: $43,936

NOI: $200,120 Gross (sales tax NOT Included)


Financial Data

Annual Monthly PSF

Rental Income 222,576 18,548 13 CAU Income 12,480 1,040 1 Annual Fee 6,000 500 0

PF Yard Storage 3,000 250 0 Total Income 244,056 20,338 15

Operating Expenses Common Utilities 9,000 750 1

Taxes 26,866 2,239 2 Insurance 8,070 672 0

Total Operating Exp 43,936 3,661 3

NOI 200,120 16,677 12

general “storage” warehouses to “small user” warehouses · 2020. 1. 22. · t h e e i r e c...

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