Multi-Family
Walgreens, Fort Lauderdale, FL
700 W Broward Blvd, Fort Lauderdale, FL 33312
Listing Price: $12,800,000
Investment Overview
Marcus & Millichap has been exclusively retained to offer for sale a 1.93 acre development site located in downtown Fort Lauderdale, Florida. The offering includes four contiguous parcels comprised of a Walgreens Drug Store, a 4- unit apartment building, a retail store, and a vacant lot. The existing zoning is a combination of RMM-25, B-1, and RACWMU. The proposed redevelopment assumes a rezoning of the entire site to RAC-WMU, which is consistent with similar properties in the immediate area.
RAC-WMU (Regional Activity Center - West Mixed Use) zoning district in Fort Lauderdale is a specialized designation designed to create a vibrant, walkable, and transit-oriented community, particularly in areas surrounding the city's downtown core. It is often used to facilitate the redevelopment of older commercial areas into mixed-use environments that combine residential, commercial, and high-density, high-rise development. The zoning permits a mix of uses, including residential (often high-rise, up to 40 stories in some proposed cases), commercial, and office spaces. RACWMU allows for high-density residential development, sometimes with no formal limit on Floor Area Ratio (FAR) within specific, approved projects. The zone often works in conjunction with affordable housing incentives and transit-oriented development (TOD) bonuses, allowing for increased building heights if specific criteria are met.
Walgreens, Fort Lauderdale, FL
Investment Highlights
- Rare 1.9-acre development opportunity in Downtown Fort Lauderdale
- Strategic location along Broward Boulevard corridor
- Immediate access to I-95 and major transportation infrastructure, minutes from Brightline, Fort Lauderdale Airport, and Port Everglades
- Located within one of South Florida's fastest-growing urban cores, strong demographics and affluent residential growth.
- Exceptional corporate and employment base
- Walkable urban lifestyle environment
- Significant ongoing public and private investment throughout downtown
- Positioned to benefit from continued long-term growth and redevelopment momentum
Exclusively Listed By
Listing Price: $12,800,000
Investment Highlights
- Rare 1.9-acre development opportunity in Downtown Fort Lauderdale
- Strategic location along Broward Boulevard corridor
- Immediate access to I-95 and major transportation infrastructure, minutes from Brightline, Fort Lauderdale Airport, and Port Everglades
- Located within one of South Florida's fastest-growing urban cores, strong demographics and affluent residential growth.
- Exceptional corporate and employment base
- Walkable urban lifestyle environment
- Significant ongoing public and private investment throughout downtown
- Positioned to benefit from continued long-term growth and redevelopment momentum
Investment Overview
Marcus & Millichap has been exclusively retained to offer for sale a 1.93 acre development site located in downtown Fort Lauderdale, Florida. The offering includes four contiguous parcels comprised of a Walgreens Drug Store, a 4- unit apartment building, a retail store, and a vacant lot. The existing zoning is a combination of RMM-25, B-1, and RACWMU. The proposed redevelopment assumes a rezoning of the entire site to RAC-WMU, which is consistent with similar properties in the immediate area. RAC-WMU (Regional Activity Center - West Mixed Use) zoning district in Fort Lauderdale is a specialized designation designed to create a vibrant, walkable, and transit-oriented community, particularly in areas surrounding the city's downtown core. It is often used to facilitate the redevelopment of older commercial areas into mixed-use environments that combine residential, commercial, and high-density, high-rise development. The zoning permits a mix of uses, including residential (often high-rise, up to 40 stories in some proposed cases), commercial, and office spaces. RACWMU allows for high-density residential development, sometimes with no formal limit on Floor Area Ratio (FAR) within specific, approved projects. The zone often works in conjunction with affordable housing incentives and transit-oriented development (TOD) bonuses, allowing for increased building heights if specific criteria are met.
Exclusively Listed By
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