Downtown Fort Lauderdale Investment
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Downtown Fort Lauderdale Investment
3 Retail Properties Online Auction Sale Fort Lauderdale, FL
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Investment Highlights
- Located near the future Federal Courthouse in an area with ongoing urban revitalization and increasing demand for commercial and residential spaces.
- Well-positioned to take advantage of the Florida Live Local Act, which offers incentives for affordable and workforce housing developments.
- With proximity to major highways, the property offers excellent connectivity and visibility, attracting interest as Fort Lauderdale’s downtown.
- Potential for high-rise or mid-size vertical development, perfectly suited for a mixed-use concept featuring retail, office, and residential spaces.
- Surrounded by a diverse array of retail options and popular restaurants, including Publix, IHOP, Walgreens, Fleming’s, Winn-Dixie, and Tommy Bahama’s.
Executive Summary
901, 905, and 917 S Andrews Avenue present the perfect portfolio opportunity for investors in Fort Lauderdale. The office/retail buildings are all vacant, on 0.88 acres of land on one parcel. The assets are in fair condition, needing only minor repairs. 901 is built-out as a restaurant and 490 square feet, 905 is also a restaurant, ringing in at 1,915 square feet, and 917 is freestanding retail, totaling 725 square feet. All properties are one-story and were built in 1958, making them staples of the community. Broad RAC-RPO zoning allows for many potential uses of this site. RAC-RPO zoning in Florida is a Regional Activity Center-Residential and Professional zoning district. It's a high-density, multi-use area that encourages a variety of activities, including living, working, shopping, education, and recreation. While the entitlement still needs approval, similar approvals have already been granted for nearby parcels, highlighting the area’s readiness for transformative projects. Buyers have a breadth of potential at this site.
The Downtown Fort Lauderdale retail submarket is an excellent place for owners/users and investors to enter. The Downtown Fort Lauderdale retail submarket has roughly 200,000 square feet of space listed as available for an availability rate of 3.7%. Rents have also increased by 1.9% over the past year. Office also performs well in this submarket. Developers have increased the area's apartment stock by 80% over the past decade and are on course to increase it by a further 10% over the next few years. Downtown Fort Lauderdale also received a significant facelift that has improved transportation and infrastructure and enhanced the locale's live/work/play experience, drawing many of Broward County's young professionals and high-earners to move to the area. Nova Southeastern University and Keiser University have a combined student population of close to 25,000 and are a short drive from Downtown Fort Lauderdale. The Brightline, a service that connects South Florida's three business districts via a fast-train service, has made Downtown Fort Lauderdale more accessible.
Directly across the street, a new courthouse spanning 255,000 square feet and valued at $245 million is currently under development, signaling robust investment and growth in the area. The area is well-connected within a quick drive to Route 1 and Interstate 95. There is a plethora of retail and conveniences surrounding the property.
This prime location offers an exceptional opportunity for a landmark development, leveraging the surrounding infrastructure and the significant public investment in the community.
Property tours are available by appointment only. Please contact the listing broker to schedule.
The Downtown Fort Lauderdale retail submarket is an excellent place for owners/users and investors to enter. The Downtown Fort Lauderdale retail submarket has roughly 200,000 square feet of space listed as available for an availability rate of 3.7%. Rents have also increased by 1.9% over the past year. Office also performs well in this submarket. Developers have increased the area's apartment stock by 80% over the past decade and are on course to increase it by a further 10% over the next few years. Downtown Fort Lauderdale also received a significant facelift that has improved transportation and infrastructure and enhanced the locale's live/work/play experience, drawing many of Broward County's young professionals and high-earners to move to the area. Nova Southeastern University and Keiser University have a combined student population of close to 25,000 and are a short drive from Downtown Fort Lauderdale. The Brightline, a service that connects South Florida's three business districts via a fast-train service, has made Downtown Fort Lauderdale more accessible.
Directly across the street, a new courthouse spanning 255,000 square feet and valued at $245 million is currently under development, signaling robust investment and growth in the area. The area is well-connected within a quick drive to Route 1 and Interstate 95. There is a plethora of retail and conveniences surrounding the property.
This prime location offers an exceptional opportunity for a landmark development, leveraging the surrounding infrastructure and the significant public investment in the community.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
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Market Analytics Click Here to Access
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Market Sale Price per SF
Fort Lauderdale - FL USA
Market Cap Rate
Fort Lauderdale - FL USA
Market Sale Price per SF by Star Rating
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4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
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4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
| Sale Conditions | Auction Sale | Number of Properties | 3 |
| Sale Type | Investment | Total Building Size | 3,130 SF |
| Status | Active | Total Land Area | 0.88 AC |
| Sale Conditions | Auction Sale |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Total Building Size | 3,130 SF |
| Total Land Area | 0.88 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
| 905 S Andrews Ave, Fort Lauderdale, FL 33316 | Retail | 1,915 SF | 1959 |
| 901 S Andrews Ave, Fort Lauderdale, FL 33316 | Retail | 490 SF | 1959 |
| 917 S Andrews Ave, Fort Lauderdale, FL 33316 | Retail | 725 SF | 1958 |
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Derek Rudd
Contact
Auctioneer License:
Ten-X Commercial, LLC Vibhav Kapila RE Brkr CQ1063389
-
Michelle Real -
AvenueWest Miami
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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