Marcus & Millichap has been awarded the listing for Flagler Village Land Assemblage, a prime development opportunity comprised of fifteen-parcels totaling 152,998 square feet, along N. Andrews Avenue in Fort Lauderdale.
The listing price is $30,848,000.
Ronnie Issenberg and Gabriel Britti, senior managing directors, first vice president Ryan Shaw, and associate Kevin O’Hanlon in Marcus & Millichap’s Miami office, have the listing to market the Flagler Village properties on behalf of the five business and landowners.
“This is a once in a generation opportunity a mixed-use development project of this size, covering 3.5 contiguous acres,” said Issenberg. “We worked to get all five property owners on board to sell at the same time, giving an investor the opportunity to continue the current development trend north of North Flagler Drive.”
The fifteen-parcel assemblage occupies an entire city block in Fort Lauderdale’s hip Flagler Village neighborhood, located just two blocks north of Las Olas Boulevard in Downtown Fort Lauderdale.
“The neighborhood’s trendy restaurants, bars, shops, galleries, and numerous newly developed apartment communities make Flagler Village one of Fort Lauderdale’s most sought-after areas for young professionals to call home,” added Issenberg.
“We are expecting this unique opportunity to attract a tremendous amount of attention from local and national investors,” said Britti. “We believe the pricing is justified due to the size of the parcel and potential for the large unit mix; there’s nothing else like this available in Fort Lauderdale.”
“The assemblage provides for approximately 600 feet of frontage on North Andrews Avenue, with mixed-use zoning that allows for a structure up to 120 feet in height along Andrews in Downtown Ft. Lauderdale’s FAT Village,” added Shaw.
Currently, the properties’ tenants include a mix of small auto, retail and multifamily structures. The assemblage is located within Fort Lauderdale’s #12011041700 Opportunity Zone, providing potential investors a wealth of resources to redevelop the land.
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