Listed by RE/MAX 5 Star Realty
$8,000,000
School K-12, Church, Live Local Eligible Redevelopment
Details
APN 484226210040 and 484226210010
Property Type Mixed Use, Special Purpose
Sub Type Religious/Church, School
Square Footage 26,808
Cap Rate 4.54%
NOI $362,891
Occupancy 100%
Tenancy Multi
Lease Type Gross
Rent Bumps Yes
Pro-Forma Cap Rate 7%
Pro-Forma NOI $560,000
Price per SqFt $298
Broker Co-Op Yes
Class B
Year Built 1984
Buildings 26,808
Stories 2
Lot Size (SqFt) 66,904
Zoning B-3
Parking Spaces 65 spaces
Parking Per SqFt 2.42
Investment Type Value Add
Tenant Credit Credit Rated
Ground Lease No
“Income-Producing Asset
Marketing description
Zoned for Church + Schools + Live Local Approved
Cash-flowing Live Local redevelopment opportunity on North Dixie Highway (SR-811) in Pompano Beach.
±1.54 acres improved with 26,808 SF of existing retail/office buildings generating $570,000+ in annual income, while supporting a future ±140-unit residential development by-right under Florida’s Live Local Act, subject to site plan approval.
In addition to redevelopment density, the asset offers near-term cap-rate compression through tenant upside. Current in-place rents average approximately $21/SF, materially below documented market leases in the $28–$32/SF range, providing a clear path to NOI growth through lease renewals and re-tenanting.
This is not a retail acquisition.
Developers are acquiring time, entitlement certainty, unit yield, and income growth. The property generates cash flow during the entitlement and planning phase, allowing the asset to pay for its own hold while value is enhanced on both the income and redevelopment fronts.
Investment highlights
Covered Land with Immediate Cash Flow + Development Upside
- Strong in-place income of ~$571K at $21,80 per sqft annually with upside to ~$752K $28 per sqft stabilized
- Allows investors to carry the asset while entitling or repositioning
- Rare opportunity to combine income + redevelopment in one deal
📍 Prime Dixie Highway Corridor Location
- Located on high-traffic N Dixie Hwy corridor
- Positioned within NW CRA (redevelopment zone)
- Strong surrounding growth, retail demand, and multifamily expansion
🏢 Flexible B-3 Zoning (One of the Most Powerful Zoning Categories)
- Allows:
- Mixed-use residential
- Retail, office, medical
- School, ALF, daycare, church, etc.
- Wide range of institutional and commercial uses permitted by-right
📏 By-Right Development Capacity (Low Risk)
- Up to 105 feet height
- Approx. 60–70 units by-right
- Mixed-use permitted
🚀 Live Local / Density Upside (High Reward)
- Potential to increase density to ~130+ units
- Prior city interpretation supported eligibility
- Path exists via:
- City Commission approval
- Legal / entitlement process
Listing Contacts
Listed by RE/MAX 5 Star Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$362,891.00
$30,240.92/mo
Valuation Metrics
0
DSCR
4.54%
Cap Rate
4.54%
ROI
Map
Zoning
B-3 CommercialGeneral CommercialGeneral Business
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View all 255 uses
View all 255 uses Last updated May 25, 2026 For deeper zoning details, reports are available at Zoneomics
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