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    114 5Th St Fort Lauderdale, FL 33301

    For Sale
    $7,700,000

    Prime Development Site, Fat Village, FL

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional $7,700,000 office property at 114 NW 5th Street in Fort Lauderdale, Florida, presents a unique investment opportunity. Situated in the vibrant Fat Village, a rapidly developing area of Downtown Fort Lauderdale, this property benefits from its strategic location between West Sunrise Boulevard and West Broward Boulevard. Its proximity to Fort Lauderdale's Brightline Station (a 5-minute walk) enhances its appeal and accessibility. The site is designated as an Opportunity Zone, offering potential tax advantages for investors. This location allows for the development of a mixed-use or multifamily project, with zoning regulations permitting construction up to 30 stories high, with no setbacks. The absence of setbacks maximizes buildable space and design flexibility. This property is also eligible for the Live Local Act, potentially providing additional incentives. Note that an additional parcel of 0.37 acres is available for purchase separately (MLS F10468630) for $6.5 million. The current lot size is not specified. This property offers significant potential for substantial returns in a high-growth area. The property is currently classified as an office building, but its zoning allows for a wide range of development possibilities. This is a rare chance to acquire a prime development site in one of South Florida's most dynamic neighborhoods.

    Property Features for 114 5Th St

    General Information

    Property type
    Office Properties & Spaces

    HighLights

    • $7.7M office property at 114 NW 5th Street, Fort Lauderdale, FL.
    • Located in the rapidly developing Fat Village, Downtown Fort Lauderdale.
    • 5‑minute walk to Brightline Station.
    • Opportunity Zone designation offers potential tax advantages.
    • Zoned for up to 30‑story mixed‑use or multifamily development with no setbacks.
    • Eligible for the Live Local Act.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Asphalt Repair Service ... Paving Contractor

    Suggested Use

    Restaurant Spa & Massage Dental Office Realty agency Hair Salon Nail Salon Clothing Store Daycare Center 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
    -80.1452648
    Latitude
    26.1276428

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Development Site, Fat Village, FL
    Where is this office property / space located?
    The property is located at 114 5Th St Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $7,700,000.
    What are key features of this property?
    This property features: $7.7M office property at 114 NW 5th Street, Fort Lauderdale, FL.; Located in the rapidly developing Fat Village, Downtown Fort Lauderdale.; 5-minute walk to Brightline Station.
    Request Owner's contact information
    114 5Th St Fort Lauderdale, FL 33301
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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
    114 5Th St Fort Lauderdale, FL 33301
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