1021 1St StFort Lauderdale, FL 33311

Property Details for 1021 1St St

Year built

1957

Construction

CONCRETE

Lot size

0.16 AC

Property size (Sq ft)

2,504 SF

Zone code

B-3

Property type

Office properties

Property subtype

Office buildings

APN

50-42-04-01-0370

APU

504204010370

Description

This exceptional two-story commercial building, located at 1021 NW 1st Street in Fort Lauderdale, Florida, presents a unique investment opportunity. Built in 1957, the property sits on a 7,000 square foot lot in the heart of downtown, just one block from Broward Boulevard. Its B-3 zoning allows for a diverse range of uses, making it ideal for tradespeople, startups, breweries, and other businesses. The building's strategic location offers easy access to major highways, the Fort Lauderdale-Hollywood International Airport, and vibrant areas like Flagler Village and FAT Village. This property hasn't been on the market since 1980, representing a rare chance to acquire a well-situated asset in a rapidly developing area. The asking price is $1,200,000. Importantly, this location is within a designated New Market Tax Credit (NMTC) program area and an Opportunity Zone, providing potential tax advantages for investors. Furthermore, the property is eligible for Community Redevelopment Agency (CRA) improvement funds, allowing buyers to customize the building to their specific needs, mirroring successful renovations in the surrounding downtown corridor. Detailed permissible uses are available upon request. This is a remarkable chance to own a piece of Fort Lauderdale's thriving commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $744,448

  6.5%

  $687,182

  7%

  $638,098

• Comparable approach

  Method

  Valuation

  Relative Method

  $739,732

  Geo Method

  $739,732

• Alternative Use

  Use

  Valuation

  Residential

  $852,106

  Hospitality

  $780,525

  Educational

  $649,387

  Medical

  $671,721

  Retail

  $1,010,158

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1232

Longitude

-80.1558

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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