MIAMI—In a sale-leaseback disposition that’s sure to turn investor heads, the Quarterdeck Seafood Bar & Neighborhood Grill on Las Olas Boulevard in Fort Lauderdale has hit the market. The listing price is $4.3 million.
Scott Sandelin, a senior associate, and Edward Romo, an associate in Marcus & Millichap‘s Miami office, are representing the seller. The seller is a limited liability company from Fort Lauderdale.
“This is an exclusive sale-leaseback opportunity to own a South Florida institution that sits on irreplaceable real estate on Las Olas Boulevard and just steps from the beach,” says Sandelin. “The Las Olas Quarterdeck will sign a brand new 15-year, triple-net lease with absolutely no landlord responsibilities upon closing.”
Quarterdeck is located at 2933 East Las Olas Boulevard in Fort Lauderdale. The restaurant building spans 3,738 square feet.
“The building has been extensively renovated, including a new roof, in 2013,” Sandelin says. “The property has served a loyal local following and thousands of tourists from all over the world for more than16 years at this location.”