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LAND FT. LAUDERDALE
Marcus & Millichap is pleased to present for sale this mixed-use redevelopment opportunity in Fort Lauderdale, Florida. 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 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 city's rezoning will revitalize the area from a relatively under-utilized resource to a bicycle and pedestrian-friendly urban corridor that offers a mix of uses to serve nearby neighborhoods and bring the corridor back to the vibrant and thriving business, shopping, cultural and entertainment area that it once was. Within the Northwest Regional Activity Center there are 3,291 residential units, 373,400 square feet of office, 132,332 square feet or 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. The subject property consists of two adjoining parcels totaling 0.71- acre. 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, McDonalds, 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.
Month | Payment | Principal | Interest | Total Interest | Balance |
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$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.
Total Population | 25,076 | 159,173 | 349,650 | |
Population Median Age | 37 | 41 | 41 | |
Population by Age | 0-9 Yrs | 3118 (12%) | 16221 (10%) | 37178 (10%) |
10-19 Yrs | 2372 (9%) | 15924 (10%) | 36519 (10%) | |
20-29 Yrs | 4257 (16%) | 21434 (13%) | 45499 (13%) | |
30-39 Yrs | 5135 (20%) | 23414 (14%) | 46940 (13%) | |
40-49 Yrs | 2697 (10%) | 20800 (13%) | 44939 (12%) | |
50-59 Yrs | 3274 (13%) | 24304 (15%) | 51639 (14%) | |
60-69 Yrs | 2682 (10%) | 20281 (12%) | 45420 (12%) | |
70+ Yrs | 1542 (6%) | 16794 (10%) | 41515 (11%) | |
Median HH Income | $47,005 | $55,631 | $53,653 | |
Total Household Income | < 24K | 2659 (25%) | 15036 (22%) | 31252 (22%) |
25-49K | 2839 (27%) | 15464 (23%) | 33861 (24%) | |
50-74K | 1659 (15%) | 10964 (16%) | 23757 (17%) | |
75-99K | 987 (9%) | 7252 (10%) | 14778 (10%) | |
100-199K | 1668 (15%) | 11766 (17%) | 23073 (16%) | |
200K+ | 664 (6%) | 6306 (9%) | 11314 (8%) | |
Highest Education Level | No Diploma | 2812 | 16031 | 36941 |
Diploma or GED | 4347 | 29266 | 70837 | |
Some College | 3433 | 21731 | 47795 | |
Assoc. Degree | 1704 | 9851 | 20685 | |
Bachelors Degree | 3588 | 26105 | 50175 | |
Higher Degree | 2483 | 16465 | 31526 | |
Total Housing Units | 12,423 | 85,592 | 179,538 | |
--Owner-Occupied | 2,619 | 32,181 | 74,844 | |
--Renter-Occupied | 7,857 | 34,608 | 63,191 | |
Owner-Occupied Values | < 100K | 147 | 2792 | 8792 |
100-199K | 683 | 6702 | 16948 | |
200-299K | 484 | 5718 | 14805 | |
300-399K | 516 | 4874 | 10802 | |
400-499K | 248 | 3089 | 6342 | |
500K+ | 542 | 9006 | 17153 | |
Total Working Age Population | 20,693 | 133,560 | 290,389 | |
In Work Force | 14,757 | 87,388 | 186,735 | |
Not In Work Force | 5,936 | 46,171 | 103,653 | |
Workforce Employed | 13,629 | 81,115 | 172,659 | |
Workforce Unemployed | 1,119 | 6,203 | 13,933 | |
Civlian Workforce | 14,748 | 87,317 | 186,593 | |
Military Workforce | 9 | 71 | 143 | |
Total Households | 10,476 | 66,788 | 138,035 | |
Family Households | 4,580 | 30,712 | 71,694 | |
Non-Family Households | 5,896 | 36,077 | 66,341 | |
Married Couple | 2,399 | 19,320 | 45,040 | |
Other Family | 2,181 | 11,391 | 26,654 | |
Married w/Child | 841 | 5,496 | 13,454 | |
Single Male w/Child | 137 | 1,119 | 2,648 | |
Single Female w/Child | 935 | 4,113 | 9,484 |
Population Change Last Two Decades - Plus Projection
2000 | % | 2010 | % | 2020 | % | 2030 | |
---|---|---|---|---|---|---|---|
Florida | 15,982,378 | +18 | 18,801,310 | +14 | 21,517,610 | +13 | 24,340,457 |
Broward County | 1,623,018 | +8 | 1,748,066 | +11 | 1,942,686 | +9 | 2,120,334 |