Deep Water Redevelopment Opportunity
Multifamily | 4 Units | $650,000/unit
Marketing description
The Thomas Team of Marcus & Millichap is pleased to present 121 Hendricks Isle, a (4)-unit multifamily property and redevelopment opportunity located in Fort Lauderdale, Florida.
SUBJECT PROPERTY
121 Hendricks Isle is located off Las Olas Boulevard on the Las Olas Isles, offering a rare opportunity to acquire a waterfront site with deep water dockage in one of Fort Lauderdale’s most desirable coastal neighborhoods. The property was constructed in 1951 and comprises (1) two-story concrete block building with a painted stucco exterior and shingle roof. The property offers 3,022 square feet of living area and sits on a 7,500-square-foot lot (125ft x 60ft), according to the Broward County Property Appraiser. The unit mix includes (2) studio units, (1) one-bedroom/one-bathroom unit, and (1) four-bedroom/two-bathroom unit, with select units currently operating as AirBnB. The property is zoned RMM-25.
LOCATION
121 Hendricks Isle benefits from immediate proximity to Las Olas Boulevard’s dining, shopping, and entertainment corridor, while also providing quick access to Downtown Fort Lauderdale, the beach, and major transportation nodes. The surrounding area is supported by strong demographics, including an average household income of $153,174 within 1-mile and population growth of 9.23% since 2010.
Surrounding area retailers and points of interest include Kindred Hospital South Florida – Fort Lauderdale (0.8 miles), Rocco’s Tacos & Tequila Bar (0.8 miles), Louie Bossi’s (1.1 miles), Riverwalk (1.2 miles), Capital One Cafe (1.3 miles), Riverside Hotel (1.4 miles), Las Olas Beach (1.4 miles), Truist Bank (1.7 miles), Fresh Market (1.7 miles), Publix Super Market at Las Olas (2.0 miles), Holiday Park/Baptist IcePlex/Jimmy Evert Tennis Center (2.1 miles), Brightline Fort Lauderdale Station (2.1 miles), Broward Center for the Performing Arts (2.4 miles), Broward County Convention Center (3.7 miles), Port Everglades (5.5 miles), and Fort Lauderdale-Hollywood International Airport (5.6 miles).
Nearby educational facilities include Virginia S Young Elementary School (1.3 miles), St. Anthony Catholic School (1.5 miles), Bayview Elementary School (2.9 miles), and Fort Lauderdale High School (3.6 miles).
SUMMARY
121 Hendricks Isle is being offered for sale at $2,600,000.
Investment highlights
- 7,500 Square-Foot Lot, Deep Water Dockage, RMM-25 Zoning Allowing up to 25 Units per Acre
- 1951 Construction with 4 Units and 3 Boat Docks (2 Units Are Currently Operating as AirBNB)
- Unit Mix of (2) Studio’s, (1) One-Bedroom | One-Bath and (1) Four-Bedroom | Two-Bath
- Walking Distance to many Shops, Restaurants and Galleries Located along Las Olas Boulevard
- Avg Household Income within 1-Mile $153,174 (Experian), 9.23% Population Growth (since 2010)
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