3 AveHallandale Beach, FL 33009

Property Details for 3 Ave

Year built

1979

Lot size

5.11 AC

Zone code

CENTRAL RAC

Property type

Retail properties

Property subtype

Parking lots & garages

APN

51-42-22-02-0090

APU

514222020090

Description

Exceptional investment opportunity in Hallandale Beach, Florida, presents two adjacent parcels totaling 7,500 square feet (50ft x 150ft), identified as folios 514222040400 and 0390. This combined land area is ideally suited for the construction of a mixed-use development, encompassing both multifamily residential units and commercial retail space, such as a convenience store. The property's strategic location offers convenient access to the city's vibrant amenities, including proximity to Gulfstream Park, Foster Road, diverse restaurants, and entertainment venues. The recent city code amendment significantly enhances the development potential, permitting the construction of a building up to 12 stories high, with a mixed-use designation allowing for both commercial and residential components. The zoning allows for a density of 120 dwelling units per acre. While parking is subject to specific restrictions, the property's prime location and the updated zoning regulations present a compelling opportunity for a high-return investment. The asking price for this exceptional development site is $175,000. This represents a significant opportunity to capitalize on the growth and development within this emergent area of Hallandale Beach.

• CAP approach

  CAP return

  Valuation

  6%

  $116,970,488

  6.5%

  $107,972,760

  7%

  $100,260,416

• Comparable approach

  Method

  Valuation

  Relative Method

  $240,376,832

  Geo Method

  $240,376,832

• Alternative Use

  Use

  Valuation

  Residential

  $91,079,064

  Hospitality

  $83,427,928

  Educational

  $69,411,056

  Medical

  $71,798,216

  Retail

  $107,972,760

Location Insight

City

Hallandale Beach

County

Broward

State

Florida

Latitude

25.992

Longitude

-80.1461

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].