702-704 NE 1st Ave - Restaurant FOR SALE


Fort Lauderdale, FL 33304
$4,750,000 USD
954-595-2999
702-704 NE 1st Ave, Fort Lauderdale, FL for Sale
$4,750,000 USD
Restaurant - FOR SALE
1/34
null | Request Cap Rate

702-704 NE 1st Ave
Fort Lauderdale, FL 33304


HIGHLIGHTS

  • Second Generation Restaurant
  • Onsite + Street Parking
  • High barrier to entry for new restaurants and bars

OVERVIEW

Rare opportunity to purchase a 2nd generation Bar & Restaurant in Flagler Village Fort Lauderdale. The property is centrally located between two of the largest planned developments in Flagler Village, Hines FAT Village & AIMCO’s Searstown redevelopments. Combined the two projects plan on containing 1,647 residential units, 188 hotel units, 719,895 square feet of office, retail, and commercial units. The property will be delivered vacant, making it suitable for both owner-users and investors. The neighborhood faces a very high barrier to entry for new restaurants and bars with very few remaining spaces suitable for the use, making this property especially attractive, and saving considerable time and money for the next owner. The property is located just down the street from Las Olas Blvd, Downtown Central Business District, and is walking distance to over several thousand residential units. Additionally there are several more thousand residential units currently planned or already underway. The area has experienced tremendous growth in recent years and is frequently compared to Miami’s Wynwood neighborhood. With multiple $500+ million dollar developments occurring in the neighborhood simultaneously this represents one of the few freestanding options available for purchase and a rare opportunity to own a part of this growing market.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$536 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Retail/Restaurant/Office

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

RAC-UV

APN/PARCEL ID

49-42-34-07-1560

ASK ABOUT THIS PROPERTY

Jaime SturgisNative Realty Co.More Info
954-595-2999

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jaime SturgisNative Realty Co.More Info
954-595-2999

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.