Commercial Land Development
For Sale
$8,464,701
724-746 Northeast 3rd Avenue, Fort Lauderdale, FL 33304
RAC-UV zoning supports high-density mixed-use development with residential, hospitality, office, or retail potential.
Property Size44,250 SF
Price / SF$191.29
Days on Market200
Property Features for 724-746 Northeast 3rd Avenue
General Information
Standard status
Active
Size
44,250 SF
Property subtype
Land & Docks
Taxes and HOA fees
Annual Taxes
$56,162
Amenities
No
Listing Agency:
Native Realty Co.
(310) 980-0644
Listed By:
Jeremiah Adler · License #3574408
(310) 980-0644
Source:
Compass
Added: Feb 13
Changed: Aug 31
Last Checked: Aug 31 at 12:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Native Realty Co.
Investment Insights
Based on property information with market context.
This 1.02-acre commercial land assemblage combines five contiguous parcels in Flagler Village, Fort Lauderdale. Existing retail and residential tenants occupy the property, creating interim income while future plans are considered. The site includes approximately 300 feet of frontage along NW 3rd Avenue and sits among recently developed multifamily, mixed-use, and creative office projects.
RAC-UV zoning provides for high-density mixed-use development and supports residential, hospitality, office, and retail uses. The property is positioned within an urban neighborhood characterized by a range of established and newly developed commercial and residential projects.
RAC-UV zoning provides for high-density mixed-use development and supports residential, hospitality, office, and retail uses. The property is positioned within an urban neighborhood characterized by a range of established and newly developed commercial and residential projects.
Key Highlights
- 1.02‑acre assemblage of five contiguous parcels
- Approximately 300 feet of frontage along NW 3rd Avenue
- RAC‑UV zoning supports high‑density mixed‑use development
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$679,016
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$13,580,320
$13.6M
Cap Rate 7%
$9,700,229
$9.7M
Cap Rate 9%
$7,544,622
$7.5M
Market Conditions
NOI Build-Up for 44,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.17M $26.40/SF
− Vacancy
−$81.8K −$1.85/SF
EGI
$1.09M $24.55/SF
− OpEx
−$407.4K −$9.21/SF
NOI
$679.0K $15.34/SF
Area
Fort Lauderdale, FL
Vacancy
7.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$13,580,320
Cap Rate 7%
$9,700,229
Cap Rate 9%
$7,544,622
Alternative Uses
Best Use
Mixed Use
$9.70M
$8.49M – $11.32M
NOI $679,016 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$29.74M
$26.02M – $34.69M
NOI $2,081,520 @ 7.0% cap · market cap 24.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,302
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - RAC-UV zoning supports high-density mixed-use development with residential, hospitality, office, or retail potential.
Where is this commercial land located?
The property is located at 724-746 Northeast 3rd Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $8,464,701.
What are key features of this property?
This property features: 1.02‑acre assemblage of five contiguous parcels; Approximately 300 feet of frontage along NW 3rd Avenue; RAC‑UV zoning supports high‑density mixed‑use development
