733-795 NW 27th Ave,Fort Lauderdale, FL 33311
Fort Lauderdale, FL 33311
Description
SIX FIGURES BELOW MARKET! One of the last corner lots on rapidly developing NW 27 Ave, buildable for 24 residential units. Active comps: $60k-$86k/unit for land; recently sold comps: $42k(disqualified)-$82.5k/unit for land. Subject site: approx $38k/unit. Construction cost: $3.5M+/-; total cost: Under $4.5M; projected value: $7M+: $2.5M+ INSTANT EQUITY. Nearby rents: 1 beds $1.6k-$2.1k: Potential 10%+/- cap rate. Opportunity zone: huge tax benefits. SELLER WILL FINANCE. Eligible for county grant of up to $300k towards construction. Drive 27th & nearby areas: see surge of construction. Minutes from new Walmart plaza, Starbucks, Downtown, I-95, 441, & Turnpike. Site plan for 24 large 1 bed/1 bath units includedcustomize or design your own. DND tenants. Can also be commercial or mixed-use.
Details
| MLS # | F10488707 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Year | 1948 |
| Days On Site | 121 |
| Listing Provided By | United Realty Group Inc. | Michael Sheer |
Features
| Zoning | B-3 |
|---|---|
| Acreage | 0.33 |
Market Activity 33311
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Learn More About This Property
| State | FL |
|---|---|
| County | Broward |
| City | Fort Lauderdale |
| Zip Code | 33311 |
| Area | 3560 |
| Subarea | Ft Ldale NW(3390 3400;3460;3540 3560;3720;3810) |
| Listing VS Median (in 33311) | |
Price: $918,750 low | high Med: $288,000 On site: 121 low | high Med: 359.000000 | |
