Tarpon Village - Medical/Office
Medical/Office - 6.35% Cap | Redevelopment Potential | Fort Lauderdale, FL
Marketing description
Tarpon Village presents a rare opportunity to acquire a multi-parcel medical and professional office investment with significant covered land and future redevelopment potential in the heart of Fort Lauderdale. Located along Andrews Avenue, the property consists of seven parcels totaling approximately 1.19 acres with five buildings totaling 17,489 RSF.
The asset offers strong in-place cash flow with additional upside through lease rollover and mark-to-market rental growth, as several tenants are currently operating on short-term gross leases at below-market rents. The tenancy is anchored by Holy Cross, occupying approximately 3,200 SF, alongside Sharpe Project Developments, which has successfully operated out of the property for over 20 years and occupies 4,989 SF.
In addition to the current income stream, the property offers long-term redevelopment potential with a proposed 107-unit residential concept already studied across the site. While not currently entitled, substantial preliminary redevelopment work has been completed, positioning the asset as a strong future Live Local Act candidate.
Strategically located near Downtown Fort Lauderdale, Las Olas, and Flagler Village, Tarpon Village offers investors the rare ability to acquire a stabilized urban infill asset with immediate cash flow, below-market rents, and long-term redevelopment optionality in one of South Florida's strongest growth markets.
Investment highlights
TRONG IN-PLACE CASH FLOW WITH UPSIDE
- Immediate cash flow from established tenancy
- Average in-place rents approximately 10% below market
- Opportunity to increase NOI through expense recoveries and lease administration
- Additional upside through future lease rollover
ESTABLISHED TENANCY
- 17,489 SF multi-tenant medical/office property
- Holy Cross anchors approximately 3,200 SF
- Sharpe Project Developments has operated on-site for over 20 years
- Long history of stable occupancy
PRIME INFILL LOCATION
- Signalized hard corner at Andrews Avenue & Davie Boulevard
- Minutes to Broward Health, Downtown Fort Lauderdale, Las Olas, Flagler Village, and Brightline
- Easy access to I-95, SR-84, US-1, FLL Airport, and Port Everglades
- Surrounded by continued residential and mixed-use development
WELL-MAINTAINED PROPERTY
- Professionally maintained by current ownership for over 20 years
- No significant deferred maintenance
- Operational upside without major capital investment
- Pride of ownership throughout
FLEXIBLE INVESTMENT OPPORTUNITY
- Attractive opportunity for investors, family offices, and developers
- Multiple value-add and long-term hold strategies
- Strong current cash flow with long-term appreciation potential
LONG-TERM REDEVELOPMENT POTENTIAL
- 1.19-acre assemblage across seven parcels
- Conceptual land use and feasibility study illustrates potential for approximately 107 residential units
- Potential future redevelopment under the Live Local Act (subject to approvals)
- Significant long-term land value beyond today's cash flow
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