Courthouse Tower
FOR SALE: Courthouse Tower | Value-Add Office Building | Downtown Fort Lauderdale
Marketing description
Marcus & Millichap is pleased to present Courthouse Tower, a ±37,000 square foot office building located in Downtown Fort Lauderdale. The property presents a clear value-add opportunity, currently operating at approximately 35–40% occupancy, allowing an investor to drive significant upside through lease-up and repositioning.
The asset is ideally situated along Andrews Avenue within Fort Lauderdale’s courthouse district and benefits from proximity to both the Broward County Courthouse and a federal courthouse currently under construction with expected delivery in 2026. This location consistently attracts legal and professional tenants and remains one of the most demand-driven pockets of the downtown office market.
With meaningful vacancy and below-market in-place rents, the property offers a straightforward path to increasing cash flow through leasing activity and mark-to-market rent growth. Upon stabilization, the asset is projected to generate NOI in the mid-$600K range, representing a substantial increase from current performance.
Investment highlights
- CLEAR VALUE-ADD OPPORTUNITY: Low in-place occupancy (~35–40%) provides immediate upside through lease-up.
- PREMIER DOWNTOWN LOCATION: Located in the courthouse district of Downtown Fort Lauderdale, one of the most active and tenant-driven office submarkets.
- COURTHOUSE-DRIVEN DEMAND: Direct proximity to the Broward County Courthouse and a federal courthouse under construction (expected 2026) supports long-term tenant demand.
- MARK-TO-MARKET RENT POTENTIAL: Existing rents are below market, allowing for revenue growth as leases roll and new tenants are signed.
- PARKING ADVANTAGE: Dedicated parking plus nearby structured parking, a key differentiator for downtown office assets.
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