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Retail/Restaurant/Office 702-704 NE 1st Ave

8,864 SF Vacant Retail Building Fort Lauderdale, FL 33304 $4,750,000 ($536/SF)

Investment Highlights

  • Second Generation Restaurant
  • High barrier to entry for new restaurants and bars
  • Onsite + Street Parking

Executive Summary

Rare opportunity to purchase a 2nd generation Bar & Restaurant in Flagler Village Fort Lauderdale. The property is centrally located between two of the largest planned developments in Flagler Village, Hines FAT Village & AIMCO’s Searstown redevelopments. Combined the two projects plan on containing 1,647 residential units, 188 hotel units, 719,895 square feet of office, retail, and commercial units.
The property will be delivered vacant, making it suitable for both owner-users and investors. The neighborhood faces a very high barrier to entry for new restaurants and bars with very few remaining spaces suitable for the use, making this property especially attractive, and saving considerable time and money for the next owner.
The property is located just down the street from Las Olas Blvd, Downtown Central Business District, and is walking distance to over several thousand residential units. Additionally there are several more thousand residential units currently planned or already underway. The area has experienced tremendous growth in recent years and is frequently compared to Miami’s Wynwood neighborhood. With multiple $500+ million dollar developments occurring in the neighborhood simultaneously this represents one of the few freestanding options available for purchase and a rare opportunity to own a part of this growing market.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
8,864 SF
Building Class
C
Year Built/Renovated
1965/2019
Price
$4,750,000
Price Per SF
$536
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Loading Docks
3 Exterior
Building FAR
0.78
Lot Size
0.26 AC
Zoning
RAC-UV - Urban Village District
Parking
26 Spaces (2.93 Spaces per 1,000 SF Leased)
Frontage
90 FT on NE 1 Avenue

Amenities

  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • A1
  • 3,255 SF
  • Retail
  • -
  • Now
  • A2
  • 3,127 SF
  • Retail
  • -
  • Now

This second-generation bar/restaurant space in Flagler Village, Fort Lauderdale, presents a unique leasing opportunity in one of the city’s most rapidly developing neighborhoods. The space is fully built out, allowing a new operator to open quickly without the need for extensive renovations. This is a rare chance to step into a turnkey operation in a highly sought-after area. Located just a short distance from Las Olas Boulevard, this space benefits from its proximity to one of Fort Lauderdale’s most popular destinations. The area has seen a surge in recent developments, from luxury residential buildings to creative office spaces, which has attracted a diverse and dynamic community. This asset is ideally positioned amidst two major upcoming developments, Hines FAT Village and AIMCO’s Searstown redevelopments. These projects are set to bring over 1,600 new residential units, 188 hotel rooms, and nearly 720,000 square feet of office, retail, and commercial spaces. The vibrant mix of culture, nightlife, and innovation makes Flagler Village a hotspot for both locals and visitors. In addition to the bar/restaurant space, there is also a retail or creative office opportunity available upstairs. This space can be leased together with the restaurant or separately, offering flexibility for businesses looking to establish a presence in this dynamic neighborhood. Given the limited availability of quality retail and dining spaces in Flagler Village, this lease offers a significant opportunity in a neighborhood with considerable barriers to entry. The high demand for spaces in this area underscores the value of securing a location in this thriving community. For those looking to establish or expand their presence in one of South Florida's most desirable neighborhoods, these fully equipped spaces provide the ideal foundation for a successful venture.

  • Suite 2
  • 2,482 SF
  • Office
  • -
  • Now
Space Size Space Use Position Available
A1 3,255 SF Retail - Now
A2 3,127 SF Retail - Now
Suite 2 2,482 SF Office - Now

A1

Size
3,255 SF
Space Use
Retail
Position
-
Available
Now

A2

Size
3,127 SF
Space Use
Retail
Position
-
Available
Now

Suite 2

Size
2,482 SF
Space Use
Office
Position
-
Available
Now

A1

Size 3,255 SF
Space Use Retail
Position -
Available Now

A2

Size 3,127 SF
Space Use Retail
Position -
Available Now

This second-generation bar/restaurant space in Flagler Village, Fort Lauderdale, presents a unique leasing opportunity in one of the city’s most rapidly developing neighborhoods. The space is fully built out, allowing a new operator to open quickly without the need for extensive renovations. This is a rare chance to step into a turnkey operation in a highly sought-after area. Located just a short distance from Las Olas Boulevard, this space benefits from its proximity to one of Fort Lauderdale’s most popular destinations. The area has seen a surge in recent developments, from luxury residential buildings to creative office spaces, which has attracted a diverse and dynamic community. This asset is ideally positioned amidst two major upcoming developments, Hines FAT Village and AIMCO’s Searstown redevelopments. These projects are set to bring over 1,600 new residential units, 188 hotel rooms, and nearly 720,000 square feet of office, retail, and commercial spaces. The vibrant mix of culture, nightlife, and innovation makes Flagler Village a hotspot for both locals and visitors. In addition to the bar/restaurant space, there is also a retail or creative office opportunity available upstairs. This space can be leased together with the restaurant or separately, offering flexibility for businesses looking to establish a presence in this dynamic neighborhood. Given the limited availability of quality retail and dining spaces in Flagler Village, this lease offers a significant opportunity in a neighborhood with considerable barriers to entry. The high demand for spaces in this area underscores the value of securing a location in this thriving community. For those looking to establish or expand their presence in one of South Florida's most desirable neighborhoods, these fully equipped spaces provide the ideal foundation for a successful venture.

Suite 2

Size 2,482 SF
Space Use Office
Position -
Available Now

Walk Score ®
Walker's Paradise (95)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Seacoast Bank
North Italia
ALDI
Saladworks
HOTWORX
Checkers
Bank of America
Cyclebar
Miami Subs Grill
Winn-Dixie

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
49-42-34-07-1560
Land Assessment
$133,870
Improvements Assessment
$3,479,400
Total Assessment
$3,613,270
  • Listing ID: 33318266

  • Date on Market: 9/26/2024

  • Last Updated:

  • Address: 702-704 NE 1st Ave, Fort Lauderdale, FL 33304

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