Downtown Covered Land Assemblage
Development Site With Income | 1.63 Acres
Marketing description
STL Commercial and Lokation Real Estate Commercial Services have been exclusively retained for the sale of a prime covered land assemblage just outside of Downtown Fort Lauderdale. Totaling 1.63 acres and over 20,000 SF of building, the property was recently rezoned to NWRAC-MUne, allowing for 120 foot construction and a wide variety of uses including Apartments, Hotel, and/or Retail. There is in-place income on the site as well as the ability to increase it by leasing some of the vacant space, offering a cushion for a hold period before breaking ground. There are also planned developments leading all the way up to the subject site. The site is Live Local (SB102) eligible and located in a Qualified Opportunity Zone.
Lot Size: 71,249 SF (1.63 Acres)
Combined Building Size (Office & Multi-families): 20,900 SF
Zoning: NWRAC-MUne
Allowed Uses: Multi-Family, Hotel, Retail, Office, Restaurant, Etc.
Allowed Height: 120 FT (as of right)*
Density: Uncapped**
*Allowed height if using Live Local (SB102), can match tallest building within 1 mile, going beyond the 120 FT limit
**Subject to site design
Investment highlights
Development Site - Covered Land Opportunity
Property 1 - Office & Vacant Land
Addresses: 801 N Andrews Avenue, 804, 808, and 812 NW 1st Ave, Fort Lauderdale, FL 33311
Lot Size: 47,625 SF (1.09 Acres)
Building Size: 12,202 SF
Projected Income: $305,000 Net (based on $25/NNN estimated income)
Currently owner-occupied
Property 2 - 16-Unit Multifamily
Addresses: 816, 820, and 824 NW 1st Avenue Fort Lauderdale, FL 33311
Lot Size: 23,624 SF (0.54 Acres)
Building Size: 8,698 SF
Current Yearly In-Place Income: +/- $235,800 gross
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