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    801 Andrews Ave Fort Lauderdale, FL 33311

    For Sale
    $15,900,000

    450-Unit Mid-Rise Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 101,998 square foot development site in Fort Lauderdale's vibrant Flagler Village is offered at $15,900,000. Recently rezoned NWRAC-MUne, it allows for the construction of a 120-foot-high building with an estimated 450 units. The highly efficient 2.34-acre lot (approximately 400 x 255 feet) presents a unique opportunity for high-density development. The site's prime location directly adjoins Flagler Village, Fort Lauderdale's most sought-after neighborhood, with surrounding new developments underway. The existing structures, including an office building (to be delivered vacant), a car dealership (to be delivered vacant), and fully occupied multifamily apartment buildings (totaling approximately 23,149 square feet), provide potential income during the pre-construction phase. A massing study is available. Permitted uses include multi-family, hotel, retail, office, and restaurant. Seller financing is available. This is an unparalleled opportunity to create a landmark project in Fort Lauderdale's downtown core. The estimated density is 450 units, with an asking price of approximately $35,000 per unit. The site's address encompasses 801, 816, and 823 N Andrews Ave, Fort Lauderdale, FL 33311, within Broward County.

    Property Features for 801 Andrews Ave

    General Information

    Property type
    Land

    HighLights

    • 2.34‑acre lot (101,998 SF).
    • 23,149 SF building.
    • NWRAC‑M zoning.
    • 120‑foot maximum building height.
    • Multi‑family, hotel, retail, office, and restaurant uses permitted.
    • 400 x 255 foot site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1444791
    Latitude
    26.1335264

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    FAQs

    What type of property is this?
    Land - 450-Unit Mid-Rise Opportunity
    Where is this land located?
    The property is located at 801 Andrews Ave Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $15,900,000.
    What are key features of this property?
    This property features: 2.34-acre lot (101,998 SF).; 23,149 SF building.; NWRAC-M zoning.
    Request Owner's contact information
    801 Andrews Ave Fort Lauderdale, FL 33311
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    801 Andrews Ave Fort Lauderdale, FL 33311
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