Fort Lauderdale Property Sells for $3.15 Million at $889 per Square Foot

A commercial property located at 10622 SW 53rd St in Fort Lauderdale, Florida, USA has been sold for 3.15 million at a price of 889 per square foot. The property spans 3,540 square feet and was sold on November 18, 2021.

The buyer and seller have not been disclosed, but the deal was brokered by an unnamed real estate firm. The property is located in a prime location in Fort Lauderdale, which is known for its thriving commercial real estate market.

The property is a single-story building that was built in 1980. It is situated on a 0.34-acre lot and features ample parking for tenants and customers. The property is currently leased to a single tenant, who operates a successful retail business.

The buyer of the property is likely to benefit from the strong demand for commercial real estate in Fort Lauderdale. The city has a growing population and a strong economy, which has led to a surge in demand for commercial properties in recent years.

The seller of the property is likely to have benefited from the strong market conditions in Fort Lauderdale. The city has seen a significant increase in property values in recent years, driven by a combination of population growth, job creation, and a favorable business environment.

Overall, the sale of this property is a testament to the strength of the commercial real estate market in Fort Lauderdale. With its prime location, strong tenant, and favorable market conditions, the property is likely to continue to generate strong returns for its new owner.