Sperry RJ Realty Announces Sale Of Fort Lauderdale Automotive Property Portfolio

Ron Osborne, Managing Director of Sperry-RJ Realty, is pleased to announce the sale of the NAPA store and adjoining automotive lots located at 201–205 W. State Road 84 in Fort Lauderdale.

Sperry-RJ Realty represented the seller in the transaction. Rick Bonvie, principal with Bonvie Realty & Development, represented the buyer.

The property was originally brought to market as a lease opportunity, with ownership having no initial plans to sell. However, within days of the property signage being installed, multiple prospective tenants expressed interest in purchasing the site rather than leasing it. Based on the strong market response, Sperry-RJ Realty approached ownership with the idea of selling the property.

Ownership ultimately established a “make me sell it” price of $4 million for the combined portfolio, which included a 3,000-square-foot NAPA store situated on approximately 12,000 square feet of land, along with two adjoining automotive lots totaling approximately 22,000 square feet.

“This transaction is a strong example of how market demand can shift the strategy for a property,” said Osborne. “What began as a leasing assignment quickly turned into a compelling sale opportunity once we saw the level of buyer interest in the site.”

Located along State Road 84 near major transportation corridors, the property offers strong long-term redevelopment potential for multiple single-tenant users or a possible short-term stay hotel serving Fort Lauderdale’s cruise and tourism market.

At approximately $120 per square foot of land value — compared with land values exceeding $200 per square foot along nearby U.S. 1 — the property represents a compelling investment opportunity for a buyer with long-term vision.