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Retail

LAND FT. LAUDERDALE

817 - 823 N Andrews Ave, Fort Lauderdale, FL 33311

Listing Price: $6,185,520

Lot Size
0.71 acres
Price/Acre
$8,711,887
Land Type
Land
Buildable Square Feet
30,927

Investment Overview

Marcus & Millichap is pleased to present for sale this mixed-use
redevelopment opportunity in Fort Lauderdale, Florida. The property
benefits from the 324,739 residents and an average household income
$83,290 within a five-mile radius with an expected four percent
population growth by 2025.
The subject property lies within the Northwest Regional Activity Center
Master Plan (NWRAC),a city redevelopment initiative with the goal of
creating a dynamic urban area with both daytime and evening activities.
The favorable zoning, NWRAC-MUne, permits a developer to build up to
a height of 120 feet.
The citys rezoning will revitalize the area from a relatively under-utilized
resource to a bicycle and pedestrian-friendly urban corridor that offers a
mix of uses to serve nearby neighborhoods and bring the corridor back to
the vibrant and thriving business, shopping, cultural and entertainment
area that it once was.
Within the Northwest Regional Activity Center there are 3,291 residential
units, 373,400 square feet of office, 132,332 square feet or restaurant/
retail space and 137 hotel rooms under construction as of May 2021. In
addition, the city has approved another 5,058 residential units, 551,223
square feet of office space, 211,674 square feet of restaurant/retail
space and 297 hotel rooms with more projects currently in review for
approval.
The subject property consists of two adjoining parcels totaling 0.71-
acre. It is located one block south of Sunrise Boulevard, a main retail
corridor, generating a traffic count of 53,500 vehicles per day with
numerous National and Regional retailers including ALDI, Walgreens,
Dunkin, McDonalds, Home Depot, Circle K, among others. The property
is well positioned to provide its tenants with many local attractions and
amenities including ease of access to highways and public transportation,
easily walkable parks, and many restaurants.

Investment Highlights

  • Value-Add Development Opportunity Located in Designated Opportunity Zone
  • Zoning Permits New Development to a Height of 120 Feet
  • Expanding Population| Population Projected to Grow 4% by 2025 in a One-Mile Radius
  • Dense Infill Location | Population of 324,150 within Five-Mile Radius
  • Under One Mile from Brightline Station and 3.4 Miles from Tri-Rail Station
  • Florida is a No Income Tax State

Exclusively Listed By

Listing Price: $6,185,520

Lot Size
0.71 acres
Price/Acre
$8,711,887
Land Type
Land
Buildable Square Feet
30,927

Investment Highlights

  • Value-Add Development Opportunity Located in Designated Opportunity Zone
  • Zoning Permits New Development to a Height of 120 Feet
  • Expanding Population| Population Projected to Grow 4% by 2025 in a One-Mile Radius
  • Dense Infill Location | Population of 324,150 within Five-Mile Radius
  • Under One Mile from Brightline Station and 3.4 Miles from Tri-Rail Station
  • Florida is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this mixed-use
redevelopment opportunity in Fort Lauderdale, Florida. The property
benefits from the 324,739 residents and an average household income
$83,290 within a five-mile radius with an expected four percent
population growth by 2025.
The subject property lies within the Northwest Regional Activity Center
Master Plan (NWRAC),a city redevelopment initiative with the goal of
creating a dynamic urban area with both daytime and evening activities.
The favorable zoning, NWRAC-MUne, permits a developer to build up to
a height of 120 feet.
The citys rezoning will revitalize the area from a relatively under-utilized
resource to a bicycle and pedestrian-friendly urban corridor that offers a
mix of uses to serve nearby neighborhoods and bring the corridor back to
the vibrant and thriving business, shopping, cultural and entertainment
area that it once was.
Within the Northwest Regional Activity Center there are 3,291 residential
units, 373,400 square feet of office, 132,332 square feet or restaurant/
retail space and 137 hotel rooms under construction as of May 2021. In
addition, the city has approved another 5,058 residential units, 551,223
square feet of office space, 211,674 square feet of restaurant/retail
space and 297 hotel rooms with more projects currently in review for
approval.
The subject property consists of two adjoining parcels totaling 0.71-
acre. It is located one block south of Sunrise Boulevard, a main retail
corridor, generating a traffic count of 53,500 vehicles per day with
numerous National and Regional retailers including ALDI, Walgreens,
Dunkin, McDonalds, Home Depot, Circle K, among others. The property
is well positioned to provide its tenants with many local attractions and
amenities including ease of access to highways and public transportation,
easily walkable parks, and many restaurants.

Exclusively Listed By

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