ICON 0706
For sale706 NW 1st Ave, Fort Lauderdale, FL 33311
Property type
Land
Price
$9,500,000
Lot size
1.09 acres
Property description
The property presents a rare opportunity to acquire a mixed-use development site with plans for a 189-unit residential community, offering investors and developers the ability to capitalize on an efficient, institutional-quality project. The proposed plans envision a contemporary mid-rise building that integrates residential and commercial uses while maximizing the site's development potential, with structured parking seamlessly incorporated into the design. The proposed development features a diversified unit mix designed to appeal to a broad renter demographic, supporting leasing flexibility and sustained marketability. A ground-floor commercial presence enhances the project's mixed-use character and contributes to an active pedestrian experience, while efficient circulation and contemporary architectural design create a cohesive community that balances resident appeal with operational efficiency. With plans already advancing through the development review process, the property offers an opportunity to accelerate project delivery while reducing many of the entitlement risks typically associated with urban development. The combination of 189 proposed multifamily residences, integrated commercial space, structured parking, and a thoughtfully conceived mixed-use design positions the property as an exceptional acquisition opportunity for developers seeking to deliver a transformative asset.
Property highlights
- Rare Opportunity To Acquire 1.085 Acre Lot In The Heart Of Progresso Village Neighborhood Near Downtown Fort Lauderdale
- Site Consists Of 7 Contiguous Parcels
- Approximate Dimensions: ±135’W x 350’D
- Extremely Attractive NWRAC-MUe Zoning Providing Favorable And Flexible Options For Development
- Proposed Plans For 12 Level, Mid-Rise Mixed-Use Multifamily Building With 189 Thoughtfully Designed Units And Total Gross Area Of 331,161 SF
- Attractive Proposed Unit Mix Consisting Of (41) Studios, (66) 1 Bedroom Units, (34) 1 Bed + Den Units, And (48) 2 Bedroom Units
- Total Rentable Residential Area 152,332 SF
- Abundant Parking With 198 Spaces (1.05 Spaces/Unit)
- Located East of I-95 And Just Off N Andrews Ave Close To Downtown Fort Lauderdale And Surrounded By Other New Developments
- Site Is Within Walking Distance To Numerous Retailers, Restaurants, Schools, Nightlife, Public Transportation, Etc.