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Retail

(Lunde) Land Ft. Lauderdale

837 N Andrews Ave, Fort Lauderdale, FL 33311

Listing Price: $8,215,674

Lot Size
0.94 acres
Price/Acre
$8,755,560
Land Type
Land
Buildable Square Feet
40,874

Investment Overview

Marcus & Millichap is pleased to present for sale the Flagler Village Land Assemblage, consisting of 152,998 SF or 3.51 contiguous acres with approximately 600 feet fronting North Andrews Avenue in Fort Lauderdale, Florida with mixed-use zoning that allows for a structure up to 120 feet in height. 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 development opportunity provides an investor to continue the current development trend North of Flagler Drive. The assemblage occupies an entire city block in Fort Lauderdale’s hip Flagler Village neighborhood, located just two blocks north of Las olas Boulevard in Downtown Fort Lauderdale. The neighborhood’s trendy restaurants, bars, shops, galleries and numerous newly developed apartment communities make Flagler Village one of Fort Lauderdale’s most sought-after areas for young professionals to call home. 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 entire, assemblage is located within Fort Lauderdale’s #12011041700 Opportunity Zone, providing potential investors a wealth of resources to redevelop the land. Within the Northwest Regional Activity Center there are 3,291 residential units, 373,400 square feet of office, 132,332 square feet of 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. 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’, McDonald’s, 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
  • Florida is a "No Income Tax State"

Exclusively Listed By

Listing Price: $8,215,674

Lot Size
0.94 acres
Price/Acre
$8,755,560
Land Type
Land
Buildable Square Feet
40,874

Investment Highlights

  • Value-Add Development Opportunity Located in Designated Opportunity Zone
  • Zoning Permits New Development to a Height of 120 Feet
  • Florida is a "No Income Tax State"

Investment Overview

Marcus & Millichap is pleased to present for sale the Flagler Village Land Assemblage, consisting of 152,998 SF or 3.51 contiguous acres with approximately 600 feet fronting North Andrews Avenue in Fort Lauderdale, Florida with mixed-use zoning that allows for a structure up to 120 feet in height. 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 development opportunity provides an investor to continue the current development trend North of Flagler Drive. The assemblage occupies an entire city block in Fort Lauderdale’s hip Flagler Village neighborhood, located just two blocks north of Las olas Boulevard in Downtown Fort Lauderdale. The neighborhood’s trendy restaurants, bars, shops, galleries and numerous newly developed apartment communities make Flagler Village one of Fort Lauderdale’s most sought-after areas for young professionals to call home. 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 entire, assemblage is located within Fort Lauderdale’s #12011041700 Opportunity Zone, providing potential investors a wealth of resources to redevelop the land. Within the Northwest Regional Activity Center there are 3,291 residential units, 373,400 square feet of office, 132,332 square feet of 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. 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’, McDonald’s, 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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