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425 3Rd AveFort Lauderdale, FL 33301

Prime 0.7-acre multifamily land

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 0.7-acre development site, located at 425 NE 3rd Ave in Fort Lauderdale's desirable Flagler Village, presents a unique opportunity. The property, with APN 5042-03-02-2090, is zoned RAC-CC and boasts fully approved plans for a 19-story, 208-unit multifamily project. The approved site plan, extending through December 2025, includes 146,250 leasable square feet of residential and commercial space. This development offers a realistic capitalization strategy, avoiding the complexities of workforce housing requirements and benefiting from allocated density at no extra cost. Situated on a prominent Flagler Village corridor, this project capitalizes on the current "flight to quality" market demand, presenting a chance to build a luxury rental community with limited new competition. The project's approved plans and prime location make this an exceptional investment opportunity in a thriving urban neighborhood. The Broward County location and 33301 zip code offer easy access to amenities and transportation.

Highlights

  • 208-unit, 19-story project approved by the Downtown Development Review Board (DRC) in Flagler Village.
  • Prime Flagler Village location on NE 3rd Avenue.
  • Feasible capitalization rate achievable with 208 units and 19-story height.
  • Density already allocated; no additional costs or workforce housing mandates.
  • Site plan approval extended to December 2025.

Property Details for 425 3Rd Ave

Property type
Land
Lot Size (sq. ft)
30,492 SF

Location Insight

City
Fort Lauderdale
County
Broward
State
Florida
Latitude
26.127223
Longitude
-80.14099
425 3Rd Ave, Fort Lauderdale, Florida

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Contacts

Michael Lewin
Michael Lewin
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425 3Rd Ave, Fort Lauderdale, Florida, 33301

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

425 3Rd Ave
  • Michael Lewin
    Michael Lewin
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(561) 236-5391

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