114 5Th St Fort Lauderdale, FL 33301

Property Details for 114 5Th St

Year built

1959

Construction

CONCRETE

Lot size

0.19 lot acres

Property size

5,623 SF

Zone code

RAC-UV

Property type

Warehouses

Property subtype

Self storage facilities

APN

50-42-03-02-1460

APU

504203021460

Description

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.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Longitude

-80.1453

Latitude

26.1276

CBSA code

33100

CBSA name

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

Property Tax & Assessments