837 NW 8th Ave

DWNTWN Realty Advisors is pleased to exclusively present 837 NW 8th Avenue (the "Property" or the "Offering"), a 7,950 square foot, single-tenant industrial warehouse in Fort Lauderdale's Sistrunk District. Built in 1958 and zoned I-General Industrial, the Property is a freestanding, one-story building on a 10,019 square foot lot (0.23 acres) with dock high loading, drive-in access, and approximately 16 feet of clear height. It has recently undergone ownership-level investment including full warehouse air conditioning, a new TPO roof layer, epoxy-finished floors, and fresh interior and exterior paint, leaving an incoming owner minimal near-term capital expenditure. The Property is 100% leased to PAID Motorsports LLC, a Delaware limited liability company operating a custom car modification business, on a three-year Modified Gross lease commencing May 1, 2026 and expiring May 31, 2029. Base rent is $20.00 per square foot ($159,000 annually) with 4% annual escalations and one three-year renewal option at fair market value. The lease is personally guaranteed by the tenant's owner, Karl Overington, for the first two years and backed by a $26,500 security deposit. Under the base-year structure (2026 for real estate taxes, 2025 for insurance), the tenant reimburses expense increases above base, producing a Year 1 NOI of $124,737 and a 6.1% cap rate. At $2,050,000 or $258 per square foot, the Property offers stabilized, contractually growing income with no re-leasing exposure during the initial term. Fully air-conditioned, modern small-bay product at this size rarely comes available in the Sistrunk District, where limited developable land and more than 10,000 residential units delivered or underway nearby continue to tighten supply and support long-term rent growth. A newly executed guaranteed lease, recent capital improvements, embedded rent growth, owner-user optionality, and the tenant's right of first refusal make this a rare opportunity to acquire turnkey, income-produ